Dubai – May 10th, 2018 – HalalChain, a blockchain based platform specialized in traceability of halal industry products, will be launched at the Dubai Airport Freezone (DAFZA) on May 14, 2018.
The invitation-only event is being hosted at DAFZA’s conference hall. Attending the event will be diplomats, government officials, blockchain experts, industry players, and business leaders. Representatives from the Dubai Islamic Economy Development Center (DIEDC) as well as the International Halal Accreditation Forum (IHAF) will also be attending.
The welcome addresses will be given by Abdullah Han, Co-Founder and Managing Director of HLC, along with Abdur Rahim Ghulam Nabi, Senior Advisor to the Assistant Director General at DAFZA. This will be followed by a demonstration of how blockchain solves Halal compliance global challenges.
HalalChain is a public blockchain that can serve as an open, distributed ledger that can record transactions between two parties efficiently, in a verifiable and permanent method. It also provides comprehensive solutions to instant E-payment, E-commerce and other industry applications powered by blockchain and Internet of things.
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 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.
“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.
A whitepaper on Halal Blockchain that will be released on the day of the event, discusses the challenges in the global Halal industry 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.
