IOTA, the distributed ledger technology (DLT) foundation, has unveiled a groundbreaking Digital Product Passport (DPP) specifically designed for electronics and ICT goods. This innovative solution leverages blockchain technology and smart contracts to track and audit the entire lifecycle of electronic products, from cradle to grave.
The DPP is essentially a digital record that encapsulates detailed information about a product, including its raw materials, manufacturing process, usage, disposal, and recycling. By creating an immutable and transparent record, IOTA aims to bolster the European Union’s circular economy initiatives and promote sustainability.
The foundation has developed two distinct DPP applications: one focused on data traceability and another on auditability. Both systems are built on blockchain technology, ensuring data integrity and security. This approach is already being put to use in a partnership with Eviden for battery DPPs, and now, IOTA is expanding its focus to electronic goods through a collaboration with the Technical University of Catalonia and eReuse.
The core of IOTA’s DPP for ICT lies in its ability to collect and analyze critical data throughout the product’s journey. By integrating IOTA smart contracts, the platform captures information from manufacturing to recycling, creating a comprehensive and verifiable history. The DLT ensures transparency, integrity, and accountability at every stage.
From the outset, product specifications are recorded on the IOTA Layer 2 Smart Contract Chain, establishing an immutable foundation for the product’s digital identity. As the product moves through the supply chain, proof of purchase and invoices are recorded on the IOTA Verifiable Data Registry, providing a clear audit trail of ownership and distribution.
Consumers benefit from increased product transparency through QR codes linked to the DPP platform. By scanning the code, consumers can access detailed product information, including warranties and manuals. This empowers consumers to make informed purchasing decisions and fosters trust in the product’s lifecycle.
For businesses, IOTA’s DPP offers a valuable tool for managing product lifecycles efficiently. Repair and maintenance providers, resellers, and recyclers can access crucial product information, enabling them to optimize their operations and contribute to a circular economy. Additionally, the platform facilitates compliance with environmental regulations by providing clear documentation of recycling and disposal processes.
IOTA’s Digital Product Passport represents a significant step forward in creating a more sustainable and transparent electronics industry. By leveraging blockchain technology and smart contracts, IOTA is empowering stakeholders throughout the product lifecycle to make informed decisions, reduce waste, and promote responsible consumption. As the world shifts towards a circular economy, IOTA’s DPP is poised to become a cornerstone of sustainable product management.
