Halal blockchain project announced

Halal blockchain project announced
ICIE and DAFZA held the first Halal blockchain forum.
Published: 8 March 2018 - 2:53 a.m.
By: Mark Sutton

The International Center of Islamic Economy (ICIE) in cooperation with the Dubai Airport Freezone Authority (DAFZA) has launched the Halal Digital Chain project, which will aim to use blockchain in the supply chain for halal products.

The Halal Digital Chain is a decentralized digital system supported by blockchain and IoT technologies. It verifies and tracks halal products by bringing together stakeholders in a single digital system, enabling consumers to see the product manufacturing and processing stages.

The project was announced at the first blockchain forum for the Halal sector, organised by ICIE and DAFZA. The event was attended by officials, investors and entrepreneurs from Australia, China, Malaysia, Nigeria, Pakistan and other others.

The halal blockchain project is part of initiatives announced by by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the ‘Capital of Islamic Economy'.

The project is based on a comprehensive study of Halal Digital Chain technology and how it can be applied on the ground to the blockchain processing of halal products and all aspects related to their manufacturing and production.

Commenting on the project, Amna Lootah, Assistant Director General - Finance, Commercial & Customer Relation division, Foster of DAFZA Innovation & Future Unit, said: "Through its collaboration with the International Center of Islamic Economy, DAFZA affirms its commitment to supporting all efforts to promote Dubai's leading position in all fields, especially as it has become a global model for economic diversification. This forum is part of endeavours to adopt the latest technologies that contribute to achieving the goals of Dubai Smart Plan 2021 which aims to make Dubai the smartest city in the world. It also supports the Islamic economy and the development of the UAE's Halal sector which ranked first in the Arab World and second globally in the Islamic Economy Index of 2016.

Lootah added: "The implementation of Blockchain systems in DAFZA by the first half of 2018 will make us the first smart freezone in the world, and because of the importance given to the Islamic economy as embodied by the ‘Dubai: The Capital of Islamic Economy' initiative, the Halal Digital Chain - Blockchain project provides a solid pillar for strengthening the Islamic economy and the Halal industry. It will help achieve the objectives of the ‘DAFZA Innovation Strategy' which in turn reinforces Dubai's status as a global innovation hub."

Sultan bin Mohammed Al Howymel, CEO, ICIE, said: "By collaborating with DAFZA in organizing this forum, the ICIE reaffirms its commitment to promoting Dubai's unparalleled achievements in becoming a leader of the global Islamic economy and supporting the ‘Dubai: The Capital of Islamic Economy' initiative. Through this event, we look forward to bringing together investors in the Halal industry and supporting them in expanding their contacts by meeting with businessmen and experts on the Islamic economy. This will enhance innovation and help them benefit from the leading experiences of our strategic partners in the project. This is so that we can establish a Halal Digital Chain that can raise the Halal industry to a new level by adopting smart solutions and Blockchain technology."

Click here to add your comment

Please add your comment below
Name
Country
Email
Your email address will not be published
Captcha