Dubai – May 15th, 2018 – HalalChain, a blockchain based platform specialized in the traceability of halal industry products, was launched at a demo event 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. 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
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.
HLC Technologies FZCO