New halal blockchain traceability tool touted as a supply chain ‘gamechanger’
OneAgrix's B2B platform will not only be able to track and trace halal produce and ingrediens, it will verify the authenticity of a manufacturer's halal certificate before a potential buyer can make a purchase. The data will be vetted and secured through a blockchain ledger to help combat halal food fraud and counterfeiting.
Blockchain is essentially an immutable records system whereby each part of the supply chain registers details that cannot be changed except through the full agreement of every member of the chain. By creating records that cannot be changed, traceability can be ensured.
It is widely recognised that a spate of fake halal products and dodgy certification has brought a growing need for more transparency in the segment. With blockchain already being used in the mainstream food industry, OneAgrix's is taking it to the halal segment with a solution powered by the OriginTrail protocol developed by Hong Kong tech startup Trace Labs.
OneAgrix is now calling on halal certification bodies, laboratories, traceability providers, abattoirs, farms, manufacturers and distributors to become part of this decentralised data sharing. By incorporating all links of the supply chain, the service can safeguard a larger part of it.
“This partnership between OneAgrix and Trace Labs is a game-changer, potentially transforming the world of halal supply chains” said Diana Sabrain, founder of OneAgrix.
"With secure and immutable records of transactions and metadata, these will prove crucial to the safety of halal food, underpinning trust with Muslim consumers and global halal stakeholders.
“Blockchain-secured data from field to table serves as the basis for certification, whereby technology has been enabling additional trust,” said Žiga Drev, Founder of Trace Labs.
The new cross-border trading platform can ensure safe movement of genuine, non-counterfeit food ingredients, raw agricultural products and Halal end products into the global supply chain, its backers claim.
Sabrain does not see OneAgrix as a blockchain company, however, but a “halal ecosystem with tech enabling attributes”. It can reduce friction between suppliers and buyers, and also provides a safe Escrow payment solution between buyers and sellers through smart contracts. It also provides a service whereby users can book their logistics complete with live shipping quotes.
The OneAgrix B2B Halal Marketplace already has verified products listed from suppliers in countries in Europe, as well as Turkey, Jordan, India, Indonesia and China.
OneAgrix is currently raising seed funding, and claims it already has investment offers on the table.