Efficient product tracking with blockchain in supply chains
Many sectors face significant challenges in maintaining transparent and sustainable product tracking. Traced Systems, a blockchain-powered solution from ChromaWay, is improving product traceability across industries as part of the Trace4Value+SwePass project. By leveraging Digital Product Passports, Traced Systems fosters greater transparency and sustainability throughout the entire product lifecycle across sectors.
Traced Systems originated from ChromaWay‘s collaboration with the European Blockchain Services Infrastructure (EBSI). Today, it serves as a robust solution for tracing a product’s lifecycle, from production to recycling. By leveraging the Digital Product Passport, Traced Systems securely captures and stores this data, enabling businesses to comply with EU sustainability regulations while seamlessly fostering customer trust.
– Our solution goes beyond compliance, enabling businesses to streamline operations while ensuring product information is accessible, verifiable, and trustworthy. By fostering transparency and efficiency, we create an ecosystem where organizations can operate with confidence, reduce inefficiencies, and strengthen relationships with customers and stakeholders, says Farhad Rasouli, Executive Lead & Co-Founder at Traced Systems.
Using blockchain for a greener future
Traced Systems combines blockchain technology with relational databases to improve product tracking. It allows manufacturers, recyclers, and resellers to share data transparently, supporting sustainable practices like upcycling and responsible sourcing.
With a secure and immutable data platform, businesses can effectively verify materials, make informed recycling decisions, and comply with emerging environmental laws. This capability is especially valuable in industries like textiles, batteries, and luxury goods, where trust and authenticity are essential.
What’s Next for Traced Systems?
As Traced Systems looks to its collaboration with Trace4Value+SwePass and beyond, the company is looking to expand its reach into new industries, including furniture and electronics. Building on its expertise in textiles and batteries, Traced Systems is set to bring innovative solutions to these sectors. Additionally, its Digital Product Passport will support the EU’s new deforestation and responsible sourcing regulation, helping businesses maintain transparency and compliance in their supply chains.
– The fusion of blockchain, AI, and IoT transforms supply chains, creating a more interconnected, transparent, and resilient ecosystem. This technological synergy offers a powerful chance to boost transparency, accountability, and operational efficiency across industries, enabling companies to respond more effectively to changing market conditions and customer needs, notes Farhad Rasouli.
Traced Systems demonstrates how technology can simplify and enhance traceability, transforming it from a compliance requirement into a strategic advantage that fuels sustainable growth and future success.
