Hashgraph Group launches EU digital product passport tool based on Hedera

According to market news, Swiss technology company Hashgraph Group has launched a EU Digital Product Passport tool based on Hedera, namely the supply chain tracking platform TrackTrace, aimed at helping businesses comply with the upcoming product compliance requirements in the EU.

The platform builds verifiable product information audit trails by recording the flow of goods and emissions-related data, and integrates AI agents to automate the compliance reporting process. This move is a response to the Sustainable Products Ecodesign Regulation, which will take effect in July 2024. The regulation establishes a framework for developing product-specific rules that include digital product passports, standardizing the recording and sharing of key product information across the supply chain.

The first significant milestone is the passport requirements for electric vehicles and industrial batteries in the EU Battery Regulation, which will come into effect in February 2027. Other priority categories such as textiles, clothing, and steel will be included in the DPP scope starting from July 2027.