Globally, there are almost 2 billion of Muslims from the 7.6 billion people in the world. Due to religious reasons, this enormous market of Muslims consciously seeks trusted, halal certified sources for their food, cosmetics, home care, pharmaceuticals, daily products and Shariah complied products to invest in. According to statistics, the global Halal market value that is recorded at approximately 1.4 trillion USD in 2017 is expected to reach 2.6 trillion USD in 2023.
Blockchain – with its characteristic that is high in transparency and traceability will be a good solution in providing reliable data and increase trust in the halal supply chains; increase seamless and efficient halal process from source to point of consumer purchase; improve sustainability of halal supply chains; and increase consumer’s confidence in halal brands; and global recognition of halal products. Halal blockchains provide clear advantages for manufacturers, brand owners, retailers, logistics service providers, distributors, and halal certification bodies for better trust and authenticity.
Hosted by Penang International Halal Hub, the Global Blockchained Halal Industry Forum 2019 (GBHIF2019) is held in conjunction with 10th Penang International Halal Expo & Conference 2019; adopting the theme ‘Digitalisation and The Halal Industry’ is set to provide an interactive platform for the halal industry stakeholders to better understand the impact of Blockchain Revolution and its technological advances on their business models and operating processes.