IOTA Foundation is leading the charge towards a more sustainable electronics industry with its blockchain-based Digital Product Passport (DPP). The innovative system aims to revolutionize how electronic devices are tracked, recycled, and managed throughout their lifecycle.
By creating a detailed digital record of a product, from its inception to its end-of-life, the DPP enhances transparency and accountability within the electronics supply chain. This is crucial in addressing the growing global e-waste crisis.
According to the Global e-Waste Monitor 2024, the world produced a staggering 62 million tonnes of electronic waste in 2022, a figure projected to skyrocket to 82 million tonnes by 2030. This alarming increase highlights the urgent need for sustainable solutions.
IOTA’s DPP, built on the Tangle distributed ledger technology, provides a secure and immutable platform for storing product information. This includes details about components, manufacturing processes, and end-of-life options. By leveraging the EBSI Trust Framework, the system ensures data integrity and authenticity.
One of the most significant benefits of the DPP is its potential to boost recycling rates. By tracking the components of a device, manufacturers can develop products that are easier to dismantle and recycle. Moreover, the DPP can help prevent illegal dumping and ensure that valuable materials are recovered and reused.
The European Union has recognized the importance of the DPP and has made it mandatory for several product categories, including electric vehicle batteries, textiles, and consumer electronics. IOTA’s collaboration with the EU demonstrates the technology’s potential to drive positive change on a global scale.
As the world grapples with the growing e-waste crisis, IOTA‘s Digital Product Passport offers a promising solution. By enhancing transparency, traceability, and sustainability, the DPP has the potential to reshape the electronics industry and protect our planet.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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