LONDON, Aug. 28, 2023 /PRNewswire/ -- As the world accelerates towards an Electric Vehicle (EV) future, concerns about the sustainability of EV batteries have grown. The EU has responded with a regulation, mandating digital product passports (DPPs) for EV batteries by 2027, and OriginTrail Knowledge Assets emerge as the perfect fit, providing discoverability and verifiability to each DPP. Trace Labs and their partners are leveraging OriginTrail to bring EV battery DPPs to life and build a trusted knowledge foundation for AI in the EV industry. This will provide manufacturers with exciting new ways to manage the sustainability of their supply chains and engage with their customers. And while EV batteries are the current focus, the horizon expands to a myriad of other products, signaling a sustainable future driven by OriginTrail-powered DPPs.
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The eco-drive: Understanding the need for EV battery passports
The world is witnessing a tremendous shift towards EVs, driven not just by technological advancements but also by increasing concerns regarding environmental sustainability. At the heart of this revolution lies the EV battery, an intricate assembly of rare metals and materials. However, the extraction and utilization of these metals have raised significant environmental, ethical, and sustainability concerns, including the use of forced and child labor. Recognizing the gravity of these issues, the EU has introduced a regulation stipulating that by 2027, every EV battery in the market must have a digital product passport, accessible via a QR code. This move underlines the commitment to not only promote green transportation but also ensure its ethical and sustainable production.
Setting the benchmark for EV Digital Product Passports with OriginTrail
In the evolving digital landscape of global supply chains, ensuring sustainability and ethical practices can be challenging. OriginTrail Knowledge Assets stand out when it comes to facilitating such digital transformations, and with a unique combination of characteristics setting them apart from other solutions, they provide a groundbreaking foundation for EV battery DPPs.
Ownership. In the complex world of EV batteries, it's vital to ascertain the origins and ensure the authenticity of the product. OriginTrail ensures that each EV battery passport's authenticity is directly verifiable, tying it unequivocally to the manufacturer. This not only ensures trust but establishes a clear line of accountability.
Discoverability. The journey of an EV battery involves numerous stakeholders - from raw material suppliers to end-of-life recyclers. OriginTrail allows for seamless connection of each EV product passport to other related Knowledge Assets. This means stakeholders can trace the entire lifecycle, from the source of the metals to the battery's end-of-life phase.
Verifiability. Transparency is only as good as its accuracy. With OriginTrail, every piece of data in the EV DPP, as well as its issuer, updates, and other changes can be verified on blockchain. It's not just about presenting knowledge but ensuring its integrity every step of the way.
Data privacy. Manufacturers often grapple with the challenge of balancing transparency with business sensitivity. OriginTrail allows them to decide what data is public and what remains restricted or only accessible to certain stakeholders (e.g. regulators), offering an optimal blend of transparency and confidentiality.
This nuanced approach tailored for the demands of EV DPPs sets OriginTrail apart as the gold standard in the digital landscape.
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An example of an EV DPP as connected Knowledge Assets on OriginTrail.
The example EV DPP shown in the screenshot above can be explored in the OriginTrail DKG Explorer.
Towards trusted AI: Revolutionizing the EV industry
Such an extensive web of interconnected EV DPPs and related Knowledge Assets serves as a trusted knowledge foundation for AI solutions in the EV sector. Leveraging this concept, Trace Labs and their partners have been working on a solution that can unlock countless possibilities for EV manufacturers.
Simplified, interactive queries. Manufacturers often struggle with vast amounts of data. Combining the web of trusted Knowledge Assets with AI tools, querying complex supply chain data can be done through simple chat-like interfaces. For example, imagine simply asking about the environmental impact of an EV battery batch or the ethical sourcing history and getting a verifiable answer in real-time.
Proactive insights. Moving from a reactive to a predictive way of operating can be a game-changer. AI coupled with EV battery DPPs and other Knowledge Assets enables manufacturers to foresee issues before they arise. Be it batteries nearing end-of-life or potential supply chain disruptions, trusted AI can offer insights into likely future outcomes.
Enhanced customer engagement. In an age where customer loyalty is gold, AI-driven insights from EV battery DPPs offer manufacturers a new playbook. For example, by preemptively identifying potential battery issues, manufacturers can proactively reach out to their customers, ensuring safety and building trust.
Holistic view of the supply chain. OriginTrail trusted knowledge foundation enables AI tools to provide actionable insights that make a difference. Manufacturers can gain a 360-degree view of their battery supply chain, from raw material sourcing to end-of-life recycling, allowing them to identify sustainability (and other) issues and address them effectively.
By converging OriginTrail-powered EV DPPs and related Knowledge Assets with AI, we're not just looking at the next step for the EV industry but more of a quantum leap. It's a future where trusted knowledge drives decisions, ensures sustainability, and shapes an exciting era of innovation and trust.
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AI-powered chat for EV DPPs based on OriginTrail trusted knowledge foundation.
The expanding horizon: Beyond the EV battery passports
EV batteries are merely the tip of the iceberg. The EU's vision for digital product passports extends far beyond, encompassing a range of product categories from textiles to consumer electronics. As these regulations take shape, they signify billions of products that could leverage the benefits of OriginTrail-powered product passports. With this, industries can establish a trusted AI foundation, opening doors to infinite possibilities and ensuring a sustainable and ethical future.
About Trace Labs
Trace Labs is the core developer of OriginTrail-the open source Decentralized Knowledge Graph. Its technology is being used by global enterprises (e.g. over 40% of US imports including Walmart, Costco, Home Depot are exchanging security audits with OriginTrail DKG) in multiple industries, such as pharmaceutical industry, international trade, decentralized applications, constructions and more.
Website: https://tracelabs.io/
Twitter: https://twitter.com/TraceLabsHQ
About OriginTrail
OriginTrail is an ecosystem dedicated to making the global economy work sustainably by enabling a universe of AI-ready Knowledge Assets, allowing anyone to take part in trusted knowledge sharing. It leverages the open source Decentralized Knowledge Graph that connects physical and digital worlds in a single connected reality driving transparency and trust. Advanced knowledge graph technology currently powers trillion-dollar companies like Google and Facebook. By reshaping it for Web3, the OriginTrail Decentralized Knowledge Graph provides a crucial fabric to link, verify, and value data on both physical and digital assets.
Website: https://origintrail.io/
Twitter: https://twitter.com/origin_trail
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