On March 21, 2019, when the HLC public chain team successfully transferred P2P transmission based on DAG (Directed Acyclic Graph Technology) technology in Shanghai, China, the fans of the HLC International Community boiled. The news quickly spread to financial institutions and investment funds in the Gulf countries. Prior to February 28th, HLC also successfully completed the P2P transmission in Xi’an, China based on the BLOCKCHAIN bottom layer.
As a public chain supported by the new generation of DAG technology, HLC has been low-key stealth in the past year and is fully committed to the development of public chains, wallets, stable coins and exchanges.
From February 2019 to March 2019, in the fierce battle of the public chain, the HalalChain (HLC) team understated and ranching, from the predecessor of the food traceability project based on QRC2.0 and ERC2.0 technology to the DAG. (The directed acyclic graph technology) supports the transformation and development of the public chain. HLC’s R&D team, operation team and business team are all in a hurry. They completed the development of the four core functions of the Muslim World’s first public chain in less than one year. He also cooperated with five major international projects and was invited to give interviews and lectures to financial and regulatory agencies in Japan, Malaysia, and the six countries of the Gulf, and handed over a brilliant answer.
Low-key research and development of a new generation of DAG public chain
In October 2017, the project dedicated to the use of blockchain technology to serve Islamic halal food traceability was officially launched. The project DOME was launched in early 2018, but in the actual operation, the team found that the existing blockchain technology performance is difficult to meet. The demand for food traceability and the subsequent expansion, the Islamic economic system needs a public security chain that integrates security, performance, regulation and expandability. To this end, HLC is determined to transform and develop the public chain and establish a “first public chain” that can be applied to the entire Islamic economic system.
In order to solve this problem, the R&D team focused on front-end technology DAG and began systematic research and testing. It has been discussed with blockchain technical experts in the United States and Switzerland and has used DAG (directed acyclic). The source code of the public link project of the graph technology was compared, analyzed and summarized. The person in charge of the DAG technology and the publisher of the DAG technology theory were consulted and exchanged to verify the latest SPECTRE and PHANTOM protocols.
After nearly half a year of research and verification by the R&D team, HLC found that DAG can solve the balance between financial security and transaction expansion in the performance of the public chain, and finally chose to enable the DAG technology framework, and immediately invested in development.
Although the HLC official has not announced the news of public chain development, the public chain development of HLC has been revealed by four parts, including the development of blockchain core programs, the development of DAG algorithms, the application level of wallet and blockchain browsers and development of mining procedures and mining pools.
It is understood that these four parts contain dozens of subdivision functions, and the HLC R&D members in Jordan, Dubai, Egypt, Malaysia, Indonesia, Switzerland, Beijing, Shanghai, and other places respond quickly and efficiently. The blockchain core program part, in addition to the P2P network layer is still in development and debugging, the rest of the functions have been developed, and joint testing with peripheral applications; DAG algorithm part of the current development work has been completed, in the code optimization and integration testing The application level development of wallet and blockchain browser, the first phase of development has been completed, is already in the second phase of development; the mining program and the mining pool part have completed all development.
The development team releases the technical weekly report every week. As of December, the development completion rate of the core functions of the HLC public chain has reached 95%, and the project development is fast and efficient.
Actively Reserve Public Chain Commercial Projects in Dubai
The HLC public chain has been reporting progress to the relevant departments and partners in Dubai from planning to R&D. Their projects have received strong support from Islamic countries and regional financial institutions.
In March 2018, the Dubai government upgraded HalalChain to be a government project and was fully reported by the mainstream media. UAE Vice President and Dubai Chief Sheikh Mohammad bin Rashid Al Maktoum announced at the HalalChain project and the Blockchain Forum that HalalChain will be an important part of the plan to make Dubai the “Islamic Capital of Economy”. The two sides aim to diversify and promote the growth of the UAE economy and complement Dubai’s “Internet of Things (IoT) strategy”, which calls for all organizations and institutions to join the smart digital transformation process.
The emergence of HalalChain meets the needs of Islamic economic development. The integration of blockchain technology and Islamic finance will play a role in fueling the development of Islamic economy. By the support of the Dubai government and the active expansion of the operation team, HLC achieved cooperation with some international projects in 2018, which is reached cooperative consensus with relevant government agencies and a number of large enterprises. This series of contracts shows that HLC has begun to commercialize its commercial applications for its public chain so that it can fully serve the Islamic economy.
In March, HLC partnered with the United Nations Humanitarian Organization (IHC), which will provide IHC with supply chain solutions that enhance and address the transparency that IHC faces in managing and hosting community members of multinational organizations.
In the same month, Dubai-based Khaled Ahmad Foudeh General Trading Company L.L.C (KAF Group) reached strategic cooperation with HLC, and the KAF Group will fully adopt the HalalChain Islamic economy and blockchain docking solution.
In July, HLC reached in-depth cooperation with the DAD digital advertising chain. The two parties will cooperate in marketing and big data collection for a long time. HLC will connect the cross-border payment and capital production chain to the DAD platform, improve the various algorithm mechanisms of the DAD advertising platform, and further enhance the DAD ecological participants. income. The DAD digital advertising chain will analyze the global traffic accumulated by itself for many years, screen and accurately target the HLC global target users, and display the HLC project information and dynamics to the target users in time to accelerate the global ecological construction of HLC.
In November, HLC successfully cooperated with Nigerian NAFDAC, and HLC created a traceable application called “NAFDAC Watch” for NAFDAC services and operations. This will be part of the entire HalalChain solution to develop a complete Islamic economic ecosystem. In addition, the ecosystem will include HalalChain’s own pass and other cryptocurrencies in the later stages to cover NAFDAC services.
In the second half of 2018, in March-2019, the HLC Dubai Operations Center released a number of cooperation signals in the financial sector. These flashing signals were followed by HLC’s business applications in the commercial chain in advance for the public chain. What we can see are:
HLC worked with the assets of Nigerian Islamic Bank and a number of financial institutions.
HLC worked with Uganda’s international financial community.
HLC and the UK investment bank discussed the cooperation of the world’s first Islamic blockchain bond.
HLC discussed the technology and path cooperation of financial assets on the chain with the Islamic Development Bank of Saudi Arabia.
HLC participated in the 44th annual meeting of the Islamic Development Bank Group in Morocco and was invited to be the spokesperson for the blockchain solution, fully proclaiming the HLC public chain will provide a package solution for Islamic finance.
Gulf Six Countries Travel Gained Confidence in Islamic Financial Assets Board Chain
In 2018, HLC’s global promotion work was carried out in an active and orderly manner. It visited Japan, Malaysia, the Middle East, the Gulf, and other countries and regions throughout the year. The footprints are all over Asia and Africa. The biggest inspiration for this trip is that Islamic financial capital production. The chain will be the big gold mine of the future HLC.
HLC has been invited by the international conference several times to start a trip to Japan, a trip to the Middle East, a trip to Malay, a trip to the Gulf, and made a keynote speech at the conference, which has aroused widespread concern.
On February 6th, Halalchain co-founder and CEO Saad Mohib delivered a keynote speech at the Middle East Blockchain Forum at the Grosvenor Hotel in Dubai, United Arab Emirates. In an interview with CNBC Arabiyyah, HaldChain’s co-founder Abdullah Han introduced the DAG, which was defined as “BlockChain 3.0 Technology”, which was cited by many media and received much attention.
From March 24th to March 25th, the two-day Japanese Meetup was held in Osaka and Tokyo, Japan. HalalChain and Ink, ID Chain and AUTAAS exchange blockchain technology and future Islamic financial assets.
The most noteworthy is the Gulf 4 countries travel in October. HLC made its first-round trips and visits to the four countries of the Gulf, including Bahrain, the world’s most professional Islamic finance company, Kuwait, a global sovereign financial fund, and balanced development of oil and industry in the Middle East. The big country of Oman, the Middle East is the country with the strongest investment power in the blockchain. It has focused on the blockchain financial authorities of the Gulf countries and a number of Islamic banks, Islamic bond issuers, and a number of well-known bond investment banking departments in Europe and America. These institutions have expressed great interest in HLC and hope that HLC will immediately come up with a clear blockchain financial practice solution. It is understood that the HLC public chain will start from the Gulf countries and then expand to the Middle East and Southeast Asia markets.
In addition, Dr. Farrukh Habib and Dr. Sulaiman, co-founders of HalalChain, have been invited to attend international conferences and speak. Dr. Farrukh Habib talked about the compliance of cryptocurrencies in Islamic values, the compliance of HLC tokens with Islamic values, and introduced the HalalChain project plan at the Gulf Research Conference held at the Gulf Research Center of the University of Cambridge. Many participants in the workshop were impressed with Dr. Farrukh Habib’s findings on the application of blockchain technology in the Islamic financial and economic industries. Dr. Sulaiman Liu participated in the “Future Blockchain Summit” and delivered a keynote speech. He introduced the HLC project in depth and combined with practical applications to solve the problem of Islamic financial capital board chain, which was reported by the media.
At present, the HLC public chain financial projects that are being promoted intensively include stable currency and wallet projects.
It is worth mentioning that the Stabilization Coin project, from the current release of the news, will be issued with SUKUK (Islamic Bonds) to generate stable currency. Since SUKUK is a bond with 1:1 solid asset stabilization, the risk is small and the fluctuation is small, which is especially suitable for stable currency mortgage. HLC has signed a development agreement with its partners and is currently in the process of development.
In 2018, with the DAG technology-based public chain project moving from low-key to the community and investors’ perspective, HLC’s public chain development has received great attention, known as the 2019 global public star project. HLC’s technical team has come up with an excellent timetable: completed the BLOCKCHAIN-based transmission test in Xi’an, China in February, and completed the BLOCKDAG-based joint debugging test in Shanghai, China on March 21, the TOKEN test will be completed in April. mining test will be completed in May, the project will be open source to global technicians on June 31, and the public chain plan will be officially launched around October.