Creative Destruction of Halal Certification (Bodies) By Blockchain Technology?
The fast-growing global halal market is supported by strong economic fundamentals, new categories of halal certified products, more stringent requirements for ingredients, and more Muslim countries developing halal certification systems. This is resulting in a high demand for halal certification services. The number of halal certification bodies (HCBs) worldwide is estimated to stand at around 500, although the exact number is difficult to obtain because there is no international or Organization of Islamic Cooperation (OIC) registration database. Generally, HCBs do not recognise each other although some HCBs, such as the Indonesian Council Of Ulama (Majelis Ulama Indonesia, MUI) and Department of Islamic Development Malaysia (Jabatan Kemajuan Islam Malaysia, JAKIM), create lists of recognised HCBs for issues pertaining to (amongst other things) meat slaughtering and the production of flavourings and perfumes.