The challenge

Reusing materials for new manufacturing initiatives and sustainable products without decreasing their value and quality.

To establish the viability of circular economic models, we need to determine how much we can save energy inputs, labor, and emissions during the manufacturing of product materials. At Nexity, we’re focused on capturing all of the downgrading effects and loss of value through the reuse and recycling of materials.

Our digital technology and product passports facilitate the data collection and analysis of materials to calculate their value and reduce their environmental impact. A key outcome of these efforts will be the global promotion of environmentally, economically, and socially sustainable practices related to design, sourcing, manufacturing, and purchasing decisions.

Circular Product Passports

Tools that achieve transparency and traceability of products throughout their lifecycle, and incentivize sustainable decisions.

Advantages


Elements of powerful, impactful product passports

  • Standardized metrics and measurements for carbon footprint declarations
  • Guaranteed protection of intellectual property and confidential information
  • Accessibility of product lifecycle data for recyclers and consumers

Note: Leads to higher rates of recycling, also available to public and private stakeholders; helps enforce tariffs, taxes, and trade rules

  • Traceability of product life cycle

Note: Includes data on the extraction and production of raw materials used to make products; improves circular economy services such as remanufacturing and repairing

Blockchain technology can help policymakers, industries, and societies meet the world’s climate target and move towards a more efficient use and reuse of resources. A circular economy reduces carbon emissions, improving the environment globally.

Nexity Network uses digital tools for the identification, tracing, and co-creation of trustless, encrypted data to describe the products, components, materials, and substances needed to deploy sustainable business models — systems that make the most of the convergence of Web3 and World 3.0. Our information ecosystem is easy-to-use for both businesses and consumers to discover the requirements to participate in a circular economy.

Key Idea

Our circular product passports capture environmental and social sustainability data in a standardized, comparable format to enable all actors in the value and supply chain to work together, seamlessly. Our data structure is also digestible for informing consumer purchasing decisions, which helps brands build trust and increase their lifetime customer value.

Ultimately, the road to streamlining global trade interactions has tangible, pragmatic benefits along the way:

  • Lower operating costs for businesses worldwide
  • Quicker clearance of goods as a result of data-driven stakeholder alignment
  • Less environmental waste

Nexity’s Product Passports are an example of a digital, decentralized, and circular pathway to industries better serving consumers. This same pathway empowers organizations to avoid overproduction and manual errors resulting from a lack of transparency and visibility of supply chains. We’re reimaging how borderless and accessible high-speed value transfer can become.


Press Contact

Nexity Public Relations
pr@nexitynetwork.org