Companies are trying to adopt new technological solutions to make product information available to consumers and align with new regulations. The requirement to adopt a digital product passport to track and display product information was also included in the European Green Deal. This helps to promote transparency and encourage the development of a circular economy. Label Insights research also shows that 94% of consumers are likely to buy products whose information is easily accessible.
QR codes used by companies and affixed to labels are often linked to clouds, apps, or other technological solutions that do not allow the authenticity of the information to be ascertained. This compromises the relationship with the consumer and makes verification by specialized auditors complex.
Digital product passport for the label and packaging industry
Traent’s digital product passport can be reached nimbly via QR code and is built on blockchain. This makes the access and verification process agile, considering the information reported is authentic and immutable. A simple QR code on the label allows unlimited amounts of information to be accessed, encrypted on blockchain. These are easily accessible from a browser. The company also chooses which data to show and which to keep safe, sharing all or some specific information. The information can be related to the product, its disposal, the materials used or the process adopted.
In the label world, it would also be possible to authorize access to information about the materials used in their production and printing, any required certifications, and the total energy footprint of the label. By scanning the QR code and/or an RFID tag, the quality control inspector can see all the information, such as when the label was printed, quality certificates, when it was billed to the customer, and what materials were used. With this user-friendly and easily accessible tool, even physical auditing of labeling equipment will become unnecessary.
An additional benefit to the label and packaging world is the ability to implement multiple blockchains specific to different packaging and labeling facilities. The intersection of the different blockchains makes it possible to track, control and manage the entire supply chain, the compartments of which can be shown to the outside world. This not only increases transparency but also enables a reduction in costs, waste, and time to market.
This is an entirely new offering for brand owners. This is no longer “just” a label, but the digital embodiment of the product. The digital passport to which it is linked will be able to show each asset’s past, present, and future.
Blockchain ready and easy to use
Traent’s hybrid blockchain makes the digital product passport even more unique. The best aspects of public and private blockchain were combined to create this particular infrastructure. The result is an accessible and ready-to-use technology that requires no technical departments or in-house specialists. One-click is all it takes to have a blockchain, and the data in it can be accessed from a simple web interface. All are built on a secure technology whose data is authentic and immutable.
The uniqueness of this technology also lies in the ability to disclose all or only selected information and determine who can see the data. This granular data system keeps organizations’ internal security high and allows specific individuals to access the necessary information.
It is also possible to connect IoT sensors to the blockchain, making data collection immediate and monitoring one’s sustainability parameters. This makes it possible to check and fix any flaws in the system, reduce risks, and improve one’s efforts in terms of reduced emissions, lower energy consumption, and in all identified parameters. The fact that this data is on blockchain and, therefore, immutable also allows outsiders to check the company’s successes in real time when it decides to publish it.
QR code becomes the key to accessing digital product passport
The digital product passport is accessible from the QR code on the label. IT can show all information about a product, from the raw materials used to the type of process adopted, including all consumption along the entire chain. This also provides information about the product’s disposal process. In fact, the waste product can be tracked, and there is visibility into the package’s recyclability. For example, the label can tell you how many times a bottle has been reused. It is a never-ending process.
It is also possible associates the QR code with the product in a digital version. Here we enter the metaverse and the owner can redeem that same product as an NFT. The consumer will then own the product and its digital copy that does not wear out. A revolution made possible by the digital passport and blockchain.
Reduce complexity and consolidate credibility with Traent
The tools available to companies may be limited or may not fully meet the needs. In some cases, they are complex because it is necessary to have an in-house IT department that knows how to program and create code. In other cases, existing technologies are not secure, and the data within them cannot be tracked or nimbly verified.
A hybrid and flexible blockchain allows companies to publish selected data. Consumers and certification bodies can verify authentic and immutable data from browsers. In fact, Traent‘s solution is ready-to-use, simple to use, has low costs, and is highly understandable. The design of the digital product passport can be customized according to the company’s brand identity and with the desired look & feel. This will allow users to easily access the “digital product” and interface directly with the brand they buy from. In addition, Traent’s digital product passport is accessible from the smartphone with one click. The brand owner and consumer will have a portable blockchain that can be accessed anywhere.
Contact us if you would like to learn more and understand how this product can be used for your industry.