Merck and Hashgraph Group launch EU compliance product passport

This collaboration aims to provide a comprehensive system that verifies both the authenticity of a product and the integrity of its associated digital records. By combining physical authentication with blockchain-based traceability, the platform offers businesses a way to demonstrate compliance with regulations such as the Ecodesign for Sustainable Products Regulation (ESPR) and the EU Deforestation Regulation. The ESPR, which entered into force in July 2024, applies to most physical goods sold within the EU and is part of the broader European Green Deal initiative.

The technology has undergone a pilot demonstration in an undisclosed supply chain. Potential applications span various sectors, including food, pharmaceuticals, luxury goods, and electronics, where transparency regarding sourcing and product authenticity is increasingly critical. The development aligns with a growing global interest in blockchain for trade and supply-chain management, as seen in initiatives like Hong Kong's Project Ensemble exploring tokenized market infrastructure.