Korea Telecom to launch halal food traceability blockchain
【 Published by ledgerinsights | Editor: Miranda Wood 】
Today it was reported that KT (formerly Korea Telecom) plans to develop a global traceability blockchain for halal food. The firm claims that the system will streamline authenticating halal products, which must be produced following Islamic law.
The telecommunications firm will join forces with B-square Lab and the Korea Muslim Federation, with plans to involve international halal verification groups. Currently, halal food is certified with logos on packaging or documentation. But these methods are susceptible to fraud since it is often more expensive to produce food in line with Islamic principles.
With 1.9 billion halal food consumers globally and a market worth $3.64 trillion, according to the Federation, there is a call for more reliable ways to certify food origin.
The traceability blockchain hopes to bring consumers confidence that their product is halal, thanks to the technology’s immutability. KT and its partners will digitize certificates, so halal food producers add a QR code to the food which verifies their status. The code will additionally give consumers information about when and where the food was packaged, creating dependable expiration dates.
Today’s report does not mention KT’s own blockchain as a service (BaaS), GiGa Chain, which is being used in its other food traceability project. It is unknown whether the July project and this halal blockchain are related, but the two initiatives use QR codes and have a focus on food certification.
KT is also working on security for IoT devices using its 5G network, primarily to be used in the military. It has partnered with SK Telecom, Samsung, and LG for blockchain-powered self-sovereign identity.
■ Source: ledgerinsights
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