Byline by: Tony Er Jing Yang, Chief Operations Officer,
Today’s global markets are an interconnected web of business relationships, founded on digitalization and the technology that fuels commerce and connection. Without a foundation rooted in trust, authenticity and transparency, manufacturing concerns will emerge, and for the Halal market, religious and cultural concerns that surface can often impede trade opportunities. Addressing these challenges in advance especially in the areas of certification, traceability and compliance would remove barriers, and create advantages for both buyers and suppliers – especially for Halal products and services.
According to a report by Research and Markets, the global Halal food market is projected to reach 3.9 trillion USD by 2027, highlighting the sterling potential for future growth. For this segment to achieve this reality, various steps need to be taken to safeguard, develop and nurture this imminent opportunity. This means addressing challenges, creating solutions, and simplifying processes so trusted and successful practices can be easily replicated across demographics, regions, and countries.
Many Halal products only meet local regulations
The Challenges Of Halal Certification
To penetrate the Halal market, manufacturers need to comply with both Islamic dietary laws and principles as well as health and food safety regulations. Halal certifications are vital as it influences the purchasing decisions of the global Muslim consumer population. The challenge lies in the process of obtaining traditional certification – which is rife with bureaucracy, inconsistent standards, opaque and the inability to spot fraudulent applications.
Today, blockchain technology has enabled trust – revolutionizing the Halal supply chain and providing an immutable and transparent framework that helps businesses adhere to Islamic principles in their supply chain.
Blockchain has today, empowered Halal certification, supply chain authentication and real-time logistics
Blockchain Technology: A Game-Changer
Most people have heard of cryptocurrencies such as Bitcoin but not blockchain. Blockchain technology is a decentralised and distributed ledger that has proven real world use case in logistics, healthcare, real estate, finance, and supply chain. For the global Halal trade, this technology has enabled suppliers to properly audit their supply chain; proving the clarity that allow buyers to purchase in confidence.
Blockchain ledgers are tamper proof, transparent and an immutable ledger of data. Once information is recorded on the blockchain, it is cryptographically documented and can no longer be changed or deleted. As such, Halal certification on the blockchain brings integrity to the business and consumer, as any form of data manipulation is rendered impossible. Additionally, because the whole supply chain is audited, providing end-to-end traceability of the supply chain, stakeholders can look up the data anytime, anywhere, making it a single source of truth to verify the Halal status of a product. Any form of non-compliance can also be quickly identified, spotted, and resolved.
Blockchain has today, empowered Halal certification, supply chain authentication and real-time logistics
DagangHalal’s Application
DagangHalal.com is one of the world’s largest B2B Halal eMarketplace with over 5000 suppliers and over 14,000 buyers. As a global go-to hub for Halal products, DagangHalal has implemented two systems to enable business to apply for certification and audit their supply chains easily and quickly. The Halal Application Approval System (HAAS) enables businesses to manage their online certificate application process in an effective, efficient, and reliable manner while the Halal Internal Assurance System (HIAS) is an Integrated Management System (IMS) blockchain solution for multiple HAS and FSMS/QMS standards compliance designed for the Halal industry.
These twin solutions have enabled distributors, manufacturers, and suppliers to authentically showcase their halal certification and provide the verification needed by international buyers. Suppliers that successfully obtain their halal certification are permitted to list their unique offerings on our DagangHalal eMarketplace; attracting new business leads and opening up a new revenue stream.
DagangHalal has enabled businesses to operate in spite of disruption
Securing The Future Of The Global Halal Trade
The integration of blockchain technology into Halal supply chains marks a transformative shift in how the industry ensures compliance with Islamic principles with a robust framework that enhances trust and accountability throughout the supply chain.
As the global demand for Halal products continues to rise, the adoption of blockchain in Halal supply chains is not just a technological upgrade but a crucial step toward building a more accessible, trustworthy, and efficient ecosystem. By leveraging the benefits of blockchain, the Halal industry can meet the evolving expectations of consumers while reinforcing its commitment to integrity and authenticity.
For more information on DagangHalal and its services, visit https://bit.ly/DHBlockchain