South Korea’s largest telephone company, KT Corporation is planning to collaborate with Korea Muslim Federation and a blockchain firm, B-square Lab to work on a new project of Halal Authentication Trust Platform.
According to a report, there are 1.9 billion people consuming halal food, making the market worth of $3.64 trillion in 2020. As many halal consumers have repeatedly struggled to verify the halal authentication of food and beverage, the project would be a good initiative for them.
The Halal Authentication Trust Platform will help users to verify the process of halal and certificates issuing of foods via blockchain technology. Besides, consumers can easily check foods’ expiration and the origin of packaging.
Starting with a local venture, KT has a plan to spread its platform for its usage to benefit Muslims worldwide soon.