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first_img PwC, Merck, and Hashgraph Group pilot cocoa traceability system

The Hashgraph Group, in collaboration with Merck and with consulting and implementation support from PwC Germany, is piloting a cocoa traceability solution. This solution combines Merck's M-Trust physical authentication technology with the TrackTrace digital product passport platform based on the Hedera network, aiming to verify the origin, authenticity, quality, recall requirements, and compliance data of cocoa from farm to consumer.Cocoa is one of the seven commodities covered by the EU Deforestation Regulation (EUDR). According to the rescheduled arrangement reached in December 2025, large operators and traders must fulfill their obligations starting from December 30, 2026, while micro and small operators will be subject to this from June 30, 2027. The solution also aligns with the direction of promoting digital product passports under the EU Ecodesign for Sustainable Products Regulation (ESPR); however, food and feed are currently explicitly excluded from the scope of the ESPR, and for cocoa, EUDR due diligence remains a recent binding requirement.Partners indicate that this framework is not limited to cocoa and can be expanded to areas such as pharmaceuticals, luxury goods, and industrial components in the future. Husen Kapasi, head of PwC Germany's enterprise blockchain business, pointed out that this solution has verifiability and can play a key role in food recalls or compliance investigations.

The Ethereum block space futures market ETHGas has completed a $12 million seed round financing, led by Polychain Capital

According to The Block, the Ethereum block space futures market ETHGas has announced the completion of a $12 million token round financing, led by Polychain Capital, with participation from Stake Capital, BlueYard Capital, Lafayette Macro Advisors, SIG DT, and Amber Group. The project previously completed an undisclosed pre-seed financing round of approximately $5 million in mid-2024.This round of financing started in July and was completed last month, conducted entirely in the form of a token round, using the SAFT (Simple Agreement for Future Tokens) structure, consistent with the pre-seed round. In addition to the financing, ETHGas also announced that Ethereum validators, block builders, and relayers have committed approximately $800 million in support for its market and product development. Lepsoe emphasized that these are not cash investments, but rather liquidity in the form of Ethereum block space, with participants supplying block space to the ETHGas market in exchange for higher and more predictable returns.ETHGas has built a futures market for Ethereum block space, allowing for the advance buying and selling of block space, rather than just bidding in real-time when blocks are generated. Block space is the capacity within an Ethereum block that determines whether transactions are included, their order, and their cost. ETHGas operates upstream of the existing Ethereum block production process (i.e., proposer-builder separation) and does not replace the current system, but rather interfaces with it.
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