Switzerland-based technology company Hashgraph Group introduced a supply chain platform called TrackTrace to facilitate compliance with the European Union’s new digital product traceability and sustainability standards. This platform runs on the Hedera network and enables companies to transparently record data such as carbon emissions, product sources, durability and reparability.
Digital Response to Europe’s New Harmonization Era
TrackTrace has been developed specifically in compliance with the EU’s Ecodesign Sustainable Products Directive. This regulation entered into force in July 2024 and provides the infrastructure of the Digital Product Passport system, where product data is standardized across the EU and shared in the supply chain. The first major implementation of the regulation stands out with the battery passport requirement, which will be mandatory for electric vehicles and industrial batteries as of February 18, 2027.
Distributed Ledger Technology and Automation Solutions
The TrackTrace platform aims to create immutable audit trails with distributed ledger technology. In addition, it is emphasized that thanks to the artificial intelligence tools integrated into the platform, the processes of compliance reports that companies have to prepare manually are automated. Thus, significant operational convenience is provided in the process of compliance with increasingly complex regulatory obligations.
Authentication and Corporate Partnerships
Beyond supply chain traceability, Hashgraph Group’s authentication solution IDTrust is also integrated into the system via TrackTrace. This tool enables the creation of verifiable identity documents that transfer physical production and logistics processes to the digital environment in a secure and unalterable manner. The company also collaborates with PwC for Digital Product Passport applications at the corporate level.
Hashgraph Group is frequently mentioned in the field of crypto and distributed ledger technologies. The group had previously launched the corporate wallet solution called AssetGuard, which aims at the management and security of corporate digital assets, and has collaborated with various institutions for scalable digital asset management.
The Hedera network, which forms the basis of TrackTrace, stands out as a public distributed ledger technology with high energy efficiency. This network is managed by a council that includes major global companies such as Google, IBM, Dell and Deutsche Telekom.
New platform; It competes in the same market with blockchain-based traceability solutions such as IBM Sterling Transparent Supply and TrusTrace. In addition, other solutions focusing on the battery industry and circular economy applications continue to increase their effectiveness in the market.
It is emphasized that such digital adaptation and traceability tools will play a critical role in line with the European Green Deal and the climate targets envisaged for 2050. In the statement made by Hashgraph Group management, it was stated that thanks to the artificial intelligence-supported platform, companies will be able to move faster and more transparently in compliance with new EU regulations.
Hashgraph Group evaluated, “With TrackTrace, we advance the accuracy and transparency of supply chain data by automating companies’ compliance processes.”
