The Hashgraph Group says it has launched a new service, TrackTrace, to support compliance within the European Union.

According to a release, TrackTrace is an enterprise solution for supply chain operations that delineates origin sourcing and carbon emissions. Within the EU, this type of data is particularly important.

TrackTrace is said to enable the linkage between physical events and digital records anchored on Hedera distributed ledger technology (DLT).

TrackTrace supports compliance with the EU’s Ecodesign for Sustainable Products Regulation (ESPR), which is mandated within the EU.

Under the ESPR framework, all products must have a digital record containing data on their origin, composition, sustainability credentials, and more.

Stefan Deiss, co-founder and CEO of The Hashgraph Group, says that TrackTrace can deliver the required trust data infrastructure to help companies comply with the rules.

The DPP regulation is set to go into effect in 2027 and will apply to various categories of products including textiles, construction materials, batteries and electronics.

The Hashgraph Group is a Swiss-based company operating within the Hedera ecosystem.