Snapshot The global halal products market has expanded at a promising pace in the past few years and is expected to embark upon a path of exponential growth in the next few years as well.
Through internet of things, blockchain technology and smart contracts, a global halal product ecosystem is established to regulate the Halal food industry certification system, which aims to trace the end-to-end supply chain for Halal food, medicine and cosmetics.
Ethis Ventures Launches GlobalSadaqah 1. Moreover, the intrinsic and supportive ecosystem is not established to relate Islamic economy in all its spheres, which should be in place to create a virtuous circle and to initiate a solid foundation for a prosperous, sharing, decentralized and dynamic industry.
In particular, from the perspective of halal food, an industry that matters to every Muslim consumer is long suffered with poor regulation for raw material, centralized monitoring system, inaccurate and non-authenticate halal products data, and lack of a globally reorganized Halal certification system, which limits the industry to realize its full potential.
SOLUTION Reliable data acquisition system There is no manual intervention during the automatic collection and uploading of product information in the supply chain that ensures accuracy of the data. Distributed halal food supply chain Based on the blockchain and smart contract technology, the product information data on the chain is unique and resistant to modification.
Decentralized product traceability platform The platform data is ensured safely and reliably through the optimization of the PBFT protocol and separate deployment of the central node and enterprise node.
Leading cross chain protocol The cross chain data exchange and transmission between blockchain and consortium chain is realized through the adoption of cross chain multi-chain protocol. HalalChain System Consensus data processing and storage system The blockchain platform based on fabric and HalalChain could realize classified storage of the data collected by the IOT devices, of which the consensus data would be stored in the blockchain, while the image data and product data would be stored in the IPFS distributed storage system via the adoption of Meckel tree technology from Ethereum.
HalalChain System As the part linked with end users, the Halal products traceability platform Could provide tracing and verifying services, as well as token exchange services. Han Guangyu as the overall project leader and CEO, developed project development plan.
The project entered a new stage.
Has 10 years of international business, investment and financing, and business entity operation experience. Abdu salam is expert in Islamic Economics and finance. He has great experience in both practical and Academic research in Islamic economics and finance.
Farrukh Habib is a Sharia Islamic jurisprudence and Islamic finance expert. He has multiple block chain project development experience. Ronald is an entrepreneur, started his own business in Singapore at the age of He set up a branch office in Makassar-Sulawesi, and in his first year not only surpassed set targets.
In he became co-founder of Ethiscrowd. Sulaiman is the Co-founder of Alsadiq Consulting Sdn. He is also a frequent invited speaker of various International forums and events.Halal food production and committment to excellence has established Midamar as the Halal source for thousands of retail outlets and tens of thousands of Muslim consumers in the USA and around the world.
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Although halal certification is considered a key enabler for the successful development of the global halal industry, the industry is still plagued by the issue of differing certification standards.
The lack of a single, unified global halal standard is a pressing issue within the halal industry. the Global Halal Industry: An Overview South America | % North America | % Introduction The global halal industry is estimated to be worth around USD trillion (excluding Islamic finance).
Growing at an estimated annual rate of 20%, the industry is valued at about USD billion a year. Thus, making it one of the.
Alerts: The Alert section also deals with food, non food items and any relevant news items. These alerts aware Muslim consumer’s about Halal & Not-Halal status of both food and non food items.
Open and Credible Distribution. Through internet of things, blockchain technology and smart contracts, a global halal product ecosystem is established to regulate the Halal food industry certification system.