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HalalChain Coin (HLC) is a utility token developed on QTUM blockchain. HalalChain solves three major problems of the global halal industry i.e. lack of Halal certification system, unauthentic data for Halal products and poor regulations of raw materials for Halal products. Halal industry refers to the permissible food, pharmaceuticals or cosmetics that can be consumed by the individuals of Islamic and Jewish beliefs. HalalChain provides a product traceability platform and thus comprises anShow more [+] ecosystem of IoT data collection (data related to raw materials, processing procedures), Consensus-based data processing and storage (stores consensus data on blockchain and IoT data, images etc on InterPlanetary File System) and an end-user system (Application that verifies the halal products).
HalalChain Coins (HLC) are bonded to the data generated during the movement of items/products through the supply chain. HLC coins remain locked in the measurement smart contract until the batch completes its movement through the supply chain. When the product is in the market, HalaChain coins remain bonded until the product expiration date. The end gets the reward by claiming the token at end of the product cycle.
The governance of HalalChain is controlled under Halal-Chain foundation. The foundation consists of community congress ( comprises of every asset holder), foundation councils (manage and supervise core members) and the core team (technical developments, operations, quality and risk control). HalalChain was co-founded by Abdullah Han Guangyu, Saad Mohib, Sulaiman Liu, Farrukh Habib, and Abdussalam I. Onagun. The advisory board comprises of five members including Umar Munshi founder of Ethis Ventures