The Product Digital Passport (PDP) is one of the EU's most transformative initiatives to improve the sustainability, transparency and traceability of products on the market. Although its regulation has been in force since 18 July 2024implementation will be progressive, with key dates starting from 2026 y 2027depending on the sector and type of product. All companies in the European Union will be obliged to implement the Product Digital Passport (PDP)The new regulation, a tool that promises to revolutionise the way in which product information is managed and shared throughout the value chain. While this new regulation may seem like a challenge for many business people, the truth is that, if well managed, it represents a opportunity to innovate, stand out from the competition and embrace digital transformation.
In this article, we will explain in a simple way what the Digital Product Passport is, how it relates to technologies such as the blockchain, tokenisation and the IoTand why you should see it as a strategic advantage for your business.
What is the Digital Product Passport and why is it important?
The Digital Product Passport is a mandatory digital system that will enable the collection, storage and sharing of all relevant information about a product during its life cycle. This includes data such as:
- Origin of materials.
- Environmental impact and sustainability.
- Instructions for recycling or reuse.
The main objective of this standard is to promote the transparency and sustainabilityhelping to build a more circular and efficient economy. For entrepreneurs, this means being prepared to provide accurate and accessible information about their products at all times.
How does blockchain, IoT and tokenisation make the process more efficient?
Blockchain: Transparency and security
The blockchain is the perfect technology to manage the Digital Product Passport. As it is a decentralised network, it ensures that the data stored on it are unalterable, secure and accessible in real time. This means that you can confidently demonstrate compliance with regulations, as well as the traceability of your product's materials or processes.
Practical example: If your company manufactures footwear, the blockchain allows you to trace from the origin of the leather to the point of sale, ensuring that your customers and regulators have verified and reliable information.
IoT (Internet of Things): Data Automation
The IoT adds value by enabling sensors and connected devices to automatically collect relevant information. From real-time tracking of logistics to temperature monitoring of perishable goods, IoT ensures that the Digital Product Passport is always up to date with accurate data.
Practical example: A food distribution company can install IoT sensors in its vehicles to automatically record and share data on transport conditions, ensuring product quality upon arrival at the destination.
Tokenisation: Simplifying management
The tokenisation is a key tool to fragment and manage Digital Product Passport information more efficiently. Each token can represent a specific unit of a product, facilitating its identification and traceability in digital transactions.
Practical example: A luxury brand can use tokens to track each unit of its exclusive collection, protecting itself against counterfeiting and guaranteeing authenticity to its customers.
Why should you be interested as an entrepreneur?
- Mandatory regulatory compliance. From 2025, failure to comply with this standard could mean legal sanctions and loss of access to international markets.
- Competitive advantage. Early adopters will be better positioned vis-à-vis their competitors.
- Operational efficiency. The use of blockchain, IoT and tokenisation not only facilitates compliance, but also optimises data management, reducing costs and errors.
- Consumer confidence. Showing a clear commitment to transparency and sustainability will strengthen your brand and attract an increasingly discerning audience.
The World Token Congress: Your chance to get prepared
If this information has raised questions or concerns for you, the World Token Congress 2024 which will be held on 27 and 28 November in Barcelona, at the headquarters of the co-organiser, the employers' organisation Foment del Treballis the ideal place to find answers. During this event, blockchain, IoT and tokenisation experts will share case studies, real solutions and strategies to implement the Digital Product Passport in your business.
Whether you are a business owner, entrepreneur or freelancer, this is your chance to lead the digital transformation in your sector.
The future is here - are you ready to seize it?
The Digital Product Passport is not only an obligation, but also an opportunity to modernise your company, differentiate yourself in the market and build a more sustainable future. With the right tools and a strategic approach, you can turn this challenge into the growth engine your business needs.
Book your place at the World Token Congress and get ready to lead the change, we are waiting for you in Barcelona!