Leading blockchain company HalalChain had a successful meeting on Monday the 19th November 2018 with His Excellency Hon. Inuwa Abdul-Kadir. His Excellency is the Chairman of the Governing Council of the National Agency for Food and Drug Administration and Control (NAFDAC), and for the Federal Republic of Nigeria. The meeting was held at HalalChain’s headquarters in the Dubai Airport Free-zone Authority (DAFZA), United Arab Emirates (UAE).
Mr. Abdullah Han Co-Founder and Chairman of HalalChain explained that HalalChain is a public company, specializing in technologies such as blockchain, artificial intelligence, big data, cloud computing, etc.
HalalChain has issued their own token, HLC, and completed their ICO in 2017 in Singapore. The token is listed on over 14 exchanges and traded globally.
Prof. Abdussalam another HalalChain another HalalChain Co-Founder explained how HalalChain will enhance and improve the NAFDAC efficiency by creating more opportunity for the growth of the Nigerian economy. He also explained that HalalChain is embedded with Halal certifications which is essential for NAFDAC services.
During the discussions, His Excellency Mr. Inuwa expressed that NAFDAC as an agency is in need of a technology that will enhance NAFDAC’s performance and add value to its revenue.
Mr. Abdullah responded that HalalChain will provide NAFDAC a blockchain solution a traceability application called “NAFDAC Watch” for their NAFDAC services and operations. It will be part of the entire HalalChain solution for the development of a complete Islamic economy ecosystem.
In addition, this ecosystem in the later stage will also consist of HalalChain’s own token and other cryptocurrencies being issued for the payment for NAFDAC services.
Nigeria, often referred to as the ‘Giant of Africa’ has a population of over 186 million people, of which 50% is Muslim. Nigeria has already been noted as one of the African countries looking to utilize blockchain technology. Therefore making it the perfect market for HalalChain to enter.
HalalChain is the first public blockchain company that focuses on serving Muslim countries and regions. By implementing blockchain technology into the Halal supply chain and Islamic financial industry they will help to increase transparency and traceability in Islamic financial products and services, traceability of halal and healthy products, Zakat donations, heritage and property registration, cultural communication etc.
HalalChain is built on the new distributed ledger Directed Acyclic Graph (DAG). This underlying technology, guarantees security and decentralization by achieving “High Throughput”. By combining the advanced DAG technology with unique application scenarios we are able to build across the multi-layer payment system within the Islamic economy ecosystem.