IOTA just partnered with Eviden to introduce the Eviden Digital Passport Solution (EDPS).
This DLT-based Digital Product Passport (DPP) offers comprehensive data on a product’s life cycle, enhancing transparency and traceability from production to disposal.
The passport will cover product sourcing and use cases, hoping to ensure accountability from a product’s advent stage to disposal. EDPS, powered by IOTA’s technology, aims to streamline regulatory compliance and promote sustainability.
The passport solution will simplify the process of compliance with EU environmental standards and regulations, such as the EU Battery Regulation and the Ecodesign for Sustainable Products Regulation.
The EDPS promotes a circular economy and strengthens supply chains by managing data efficiently and reducing data consumption.
Two EDPS components
The solution comprises two components: the Passport Creator and the Passport Distributor. The Passport Creator, which is 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
EDPS offers several advantages, such as aiding in making well-informed decisions, tracking product life cycles, and leveraging data. The DLT monitors a product’s complete life cycle, guaranteeing cost-effectiveness and traceability. By using the data generated throughout a product’s life cycle, EDPS hopes to add on 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.”