Indonesia is one of the largest economies in South East Asia with a population exceeding 260 million. It is one of the biggest potential markets for Blockchain technology, digital assets, and fintech in the world.
With aims to provide quality assurance and to trace end-to-end supply chain for halal goods and services, Halalchain-a technology company powered by IoT, Blockchain and smart contracts-received a warm welcome by the participants of the Blockchain INDO 2018. Taking place from 11-12 May 2018, the event is the first and largest Blockchain conference in Jakarta with 1500 participants and more than 40 global speakers attending to share insights on the current Blockchain updates, providing case analysis on the implementation of the technology.
Based in Dubai (UAE), HLC Technologies caters to several demands of halal products not only in the food sector, but also medicine and cosmetics. During the 2-day event, people were keen to learn more about HalalChain's data acquisition, storage and analysis processes, and how data is being made accessible to end-consumers for better transparency and food safety awareness, presented as a solution to bring accurate quality measurement of halal products.
According to the State of the Global Islamic Economy Report 2016-2017 by Thomson Reuters, the global halal economy is estimated to be worth around USD 3.9 trillion, with Indonesia sitting at the top 15 existing markets. Today, the term Halal has become closer to the ummah, not just as spiritual ruling but also as a lifestyle. Lots of consumers nowadays, Muslims and non-muslims, are becoming aware and actively seeking more information on the measurements and benefits of Halal/Healthy products.
Co-Founder and CEO of HalalChain, Dr. Sulaiman Liu, and two other Co-Founders Mr. Saad Mohib and, Mr. Ronald Yusuf attended the event. HalalChain was interviewed by several local leading TV and news media to share on how HalalChain is bringing the future now to the global Halal industry. A leading Indonesian Halal food industry player, Perwiramata Group, had recently signed with HLC Technologies to implement the HalalChain solution as a pilot project in the country, and many more interested Halal manufacturers are keen to work with HLC Technologies to strengthen their premium branding and market position and to convey a strong confidence hence the better transparency to the end-consumer and the market.