Blockchain Powered Halal Chain Launched in Dubai will Revolutionize Halal Products’ Compliance
Dubai – May 15th, 2018 – HalalChain, a blockchain based platform specialized in the traceability of halal industry products, was launched at a demo event at the Dubai Airport Freezone (DAFZA) on May 14, 2018.
Attending the event were diplomats, government officials, blockchain experts, industry players, and business leaders. A demonstration was provided of how blockchain solves Halal compliance global challenges, including the lack of a globally recognized Halal certification system, inaccurate and unauthentic data on Halal products, poor regulation of raw materials for Halal products, and the difficulty of managing a centralized regulatory system for Halal food. HalalChain resolves these issues by offering a public permanent ledger for Halal related transactions across the value chain.
As a public blockchain that serves as an open, distributed ledger that can record transactions between two parties efficiently, in a verifiable and permanent method, HalalChain can track and verify Halal food, pharmaceuticals and cosmetics through all stages of production, processing and distribution across the entire supply chain. The system will revolutionize the integrity of Halal compliance through real-time monitoring, comprehensive Halal standards application, as well as in ensuring Halal certification integrity.
HalalChain also provides comprehensive solutions to instant e-payment, e-commerce and other industry applications powered by blockchain and Internet of things.
“HalalChain is a comprehensive ecosystem where the Islamic economy and the digital economy complement each other. However, the use of HalalChain is not only limited to the Halal industry, it can be used to bring transparency to food label claims such as organic, non-GMO, and gluten-free,” said Abdullah Han, Co-Founder and Managing Director of HLC.
“The launch of HalalChain is in line with Dubai’s vision related to the Islamic Economy and Blockchain technology. Last month His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai launched the UAE Blockchain Strategy 2021. We are honored to be among the first to launch Blockchain technology in Dubai,” said Dr. Sulaiman Liu, Co-Founder and Chief Executive Officer.
Three memorandums of Understanding (MOUs) were signed at the event between HalalChain and Halal Asia, a partner company of GulfTIC Certification, which is a UAE based market leader in conformity assessment services for Halal products for export to GCC countries; My Outlets, a Halal supply chain platform that facilitates the distribution of Halal products from manufacturers and exporters while bypassing distributors and agents; and Perwiratama Group, an Indonesia-based poultry production company.
About HLC Technologies FZCO
Registered at DAFZA, HLC Technologies is at the forefront of the Blockchain industry, providing comprehensive solutions to Halal industry traceability, the Islamic Economy including Islamic Finance, instant e-payment, e-commerce and other industry applications powered by blockchain, Internet of Things, big data, Artificial Intelligence, biometrics technologies etc.
HalalChain is a decentralized smart chain, based on blockchain and Internet of Things, which enables food traceability through all stages of production, processing, and distribution across the entire supply chain. Not only limited to the Halal food industry, Halal Chain enables the traceability of pharmaceuticals and cosmetics products, as well as all food products to ensure safety as well as compliance to all health claims.
HalalChain Champions the First Large Scale Blockchain Event in Indonesia
Indonesia is one of the largest economies in South East Asia with a population exceeding 260 million. It is one of the biggest potential markets for Blockchain technology, digital assets, and fintech in the world.
With aims to provide quality assurance and to trace end-to-end supply chain for halal goods and services, Halalchain – a technology company powered by IoT, Blockchain and smart contracts – received a warm welcome by the participants of the Blockchain INDO 2018. Taking place from 11-12 May 2018, the event is the first and largest Blockchain conference in Jakarta with 1500 participants and more than 40 global speakers attending to share insights on the current Blockchain updates, providing case analysis on the implementation of the technology.
Based in Dubai (UAE), HLC Technologies caters to several demands of halal products not only in the food sector, but also medicine and cosmetics. During the 2-day event, people were keen to learn more about HalalChain’s data acquisition, storage and analysis processes, and how data is being made accessible to end-consumers for better transparency and food safety awareness, presented as a solution to bring accurate quality measurement of halal products.
According to the State of the Global Islamic Economy Report 2016 – 2017 by Thomson Reuters, the global halal economy is estimated to be worth around USD 3.9 trillion, with Indonesia sitting at the top 15 existing markets. Today, the term Halal has become closer to the ummah, not just as spiritual ruling but also as a lifestyle. Lots of consumers nowadays, Muslims and non-muslims, are becoming aware and actively seeking more information on the measurements and benefits of Halal/Healthy products.
A leading Indonesian Halal food industry player, Perwiramata Group, had recently signed with HLC Technologies to implement the HalalChain solution as a pilot project in the country, and many more interested Halal manufacturers are keen to work with HLC Technologies to strengthen their premium branding and market position and to convey a strong confidence hence the better transparency to the end-consumer and the market.