IOTA Partners with Eviden to Launch Digital Product Passport Solution

IOTA has partnered with Eviden to launch the Eviden Digital Passport Solution (EDPS). This DLT-based Digital Product Passport (DPP) provides detailed information about a product’s life cycle, enhancing transparency and traceability from production to disposal. The passport will cover product sourcing and use cases, ensuring accountability from a product’s creation to its disposal. Powered by IOTA’s technology, EDPS aims to streamline regulatory compliance and promote sustainability.

The passport solution simplifies compliance with EU environmental standards and regulations, such as the EU Battery Regulation and the Ecodesign for Sustainable Products Regulation. EDPS also promotes a circular economy and strengthens supply chains by managing data efficiently and reducing data consumption.

Two EDPS Components

The solution consists of two components: the Passport Creator and the Passport Distributor. The Passport Creator, equipped with a blockchain node, captures essential data at the outset. The Passport Distributor facilitates access to EDPS for small and medium-sized enterprises (SMEs) via web and app platforms.

Initially focusing on electric vehicle (EV) batteries, EDPS plans to expand into other sectors, including manufacturing, fashion, and food.

Benefits of EDPS

EDPS offers several advantages, including aiding in well-informed decision-making, tracking product life cycles, and leveraging data. The DLT monitors a product’s entire life cycle, ensuring cost-effectiveness and traceability. By utilizing data generated throughout a product’s life cycle, EDPS aims to add more use cases.

IOTA’s Tangle technology, known for its scalability and efficiency, underpins EDPS, ensuring secure and immutable transaction recording.

This collaboration is expected to drive innovation and explore additional uses of IOTA’s technology in global digital trade and data monetization.

“This partnership leverages our unique joint benefits and creates a strong combination of capabilities,” said Dominik Schiener, Co-Founder and Chair of the IOTA Foundation. Udo Littke, Head of Eviden Central Europe, Atos Group, added, “This decentralized and incorruptible technology creates an open, fair, and secure infrastructure that builds trust and promotes informed choices.”

Stay updated with more news and insights on Global Crypto News.