KT To Apply Blockchain For Halal Food Authentication

South Korean telco KT will develop a blockchain platform for use in authenticating halal food globally, the company has announced. Halal food is that which adheres to Islamic law, as defined in the Koran.

KT will work with the Korea Muslim Federation and blockchain company B-square Lab to develop the platform dubbed as the Halal Authentication Trust Platform.

The platform will process halal authentication and issue certificates for foods via blockchain. Products will get QR codes that verify their status. Customers will also be able to check expiration dates and where they were packaged.

See: Executive's guide to implementing blockchain technology

Most current halal certification is currently done with documentation or logos on packages that are vulnerable to fraud, but the new platform will overcome this, KT claimed.

According to the federation, there will be 1.9 billion people who consume halal food and the market will be worth $3.64 trillion worldwide in 2020. In South Korea, as of the first half of 2019, a total of 1,000 foodstuffs from 300 vendors have been approved as halal by the federation.

KT has plans to eventually collaborate with global halal authentication authorities to expand the platform.

The telco applied blockchain to its commercial networks in July last year and is looking to develop platforms that can be applied in various industries.

It is also working on a blockchain mobile authentication service with Samsung and South Korean telcos and banks.

Related Coverage

RECENT NEWS

Reassessing AI Investments: What The Correction In US Megacap Tech Stocks Signals

The recent correction in US megacap tech stocks, including giants like Nvidia, Tesla, Meta, and Alphabet, has sent rippl... Read more

AI Hype Meets Reality: Assessing The Impact Of Stock Declines On Future Tech Investments

Recent declines in the stock prices of major tech companies such as Nvidia, Tesla, Meta, and Alphabet have highlighted a... Read more

Technology Sector Fuels U.S. Economic Growth In Q2

The technology sector played a pivotal role in accelerating America's economic growth in the second quarter of 2024.The ... Read more

Tech Start-Ups Advised To Guard Against Foreign Investment Risks

The US National Counterintelligence and Security Center (NCSC) has advised American tech start-ups to be wary of foreign... Read more

Global IT Outage Threatens To Cost Insurers Billions

Largest disruption since 2017’s NotPetya malware attack highlights vulnerabilities.A recent global IT outage has cause... Read more

Global IT Outage Disrupts Airlines, Financial Services, And Media Groups

On Friday morning, a major IT outage caused widespread disruption across various sectors, including airlines, financial ... Read more