The Machine Passport represents a transformative digital framework for managing industrial equipment data throughout the entire machine lifecycle. By consolidating data from diverse sources—ranging from design and manufacturing to use and repair/reuse/recycling—the platform addresses challenges of fragmented information and limited interoperability. Crucially, it aims to foster collaboration among lifecycle stakeholders by enabling secure and standardized data sharing within these networks. The platform not only ensures comprehensive information management but also facilitates advanced analytics through integrated Artificial Intelligence (AI) and Explainable AI (XAI) techniques. This paper presents the Machine Passport’s architecture, outlines its key components, and demonstrates how the system supports decision-making, operational optimization, collaboration, data sharing, and sustainability in industrial settings. We discuss the challenges of data integration and sharing across heterogeneous systems and collaborative networks, highlighting the benefits of a standardized, AI-enhanced approach and illustrating its potential impact through an industrial use case.