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- NDS Launches Joint Blockchain-Based Halal Food Solution Project
Halal means “permissible” in Arabic. Meanwhile, halal foods refer to products that Muslims are allowed to consume under Islamic law.
The halal market is growing rapidly around the world with high growth potential as Muslim populations are expected to increase to 24.9% of the world population in 2020 at 1.9 billion and 26.4% in 2030 at 2.2 billion.
Approximately two billion Muslim consumers are interested in knowing if halal food on the market has been properly processed in a manner permitted by Islamic law. As such, this food traceability is one of the fields where blockchain can be best utilized.
Halal food undergoes several stages, from farm to store shelves, and each stage needs to be checked for halal compliance. If halal compliance is not followed at any stage, the product is prohibited from becoming a halal food.
IVSB and TE-FOOD have been preparing to establish a blockchain-based halal supply chain ecosystem in Malaysia since April of this year. With this agreement, NDS, which has a blockchain-based food history tracking technology expertise, will exert more efforts to establish an ecosystem for halal food traceability based on Korean blockchain and explore related markets.
As a strategic partner of Malaysia International Halal Academy (MIHA) under the Malaysia Halal Council (JAKIM), IVSB is providing training programs and coaching services related to halal certification.
TE-FOOD is a German food safety solution company that has carried out traceability projects for livestock and agricultural products using blockchain technology in Vietnam, the United States, and South Africa.
As part of the KISA’s blockchain pilot project, NDS has carried out the “KAPE Livestock Product Traceability Management System (2018)” and the “MFDS Food Safety Management Certification Service Platform Construction Project (2019),” through which it has secured a blockchain platform and business capabilities.
NDS CEO Kim Joong-won said, “With this agreement, we will explore halal food solution business opportunities and build a blockchain-based halal supply chain ecosystem using NDS’s food manufacturing domain knowledge and blockchain technology capabilities.”