IOTA recently introduced the Eviden Digital Passport Solution (EDPS) in collaboration with Eviden.Â
Transparency and traceability are improved from product creation to disposal with the help of this DLT-based Digital Product Passport (DPP), which provides extensive data on a product’s life cycle.
In an effort to guarantee accountability from a product’s introduction to its disposal, the passport will cover product sourcing and use cases. With IOTA’s technology, EDPS seeks to improve sustainability and simplify regulatory compliance.
The EU Battery Regulation and the Ecodesign for Sustainable Products Regulation, among other environmental standards and requirements, will be easier to comply with thanks to the passport solution. The EDPS strengthens supply networks and encourages a circular economy through effective data management and decreased data consumption.
Two EDPS Components
The Passport Distributor and the Passport Creator are the two halves of the solution. The Passport Creator, which has a blockchain node installed, first gathers necessary information.Â
Small and medium-sized businesses (SMEs) can use EDPS more easily with the help of the Passport Distributor’s web and app platforms. With an initial concentration on electric vehicle (EV) batteries, EDPS intends to diversify into other industries such as food, fashion, and manufacturing. Using data, tracking product life cycles, and supporting informed decision-making are just a few benefits of EDPS.
The DLT ensures traceability and cost-effectiveness by tracking a product’s whole life cycle. With the utilization of data gathered across a product’s life cycle, EDPS intends to expand its use cases. EDPS is based on IOTA’s Tangle technology, renowned for its efficiency and scalability.
This guarantees safe and unchangeable transaction logging. This partnership is anticipated to spur innovation and investigate new applications for IOTA’s technology in international digital trade and data monetization.Â
“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.”
