Benzinga - GoMeat, the first-ever blockchain-based delivery app, has entered a significant partnership with the HAQQ, a novel Sharia-compliant blockchain ecosystem based on Islamic principles. This marks a significant step for the US halal/kosher meat market, as GoMeat and HAQQ are helping local specialty food businesses to achieve digitization through blockchain.
According to the latest data, the global blockchain-based agriculture and food supply chain industry is currently valued at around $150 million, and it’s projected to grow at a CAGR of 48.1% by 2025, reaching nearly $948 million. This partnership between GoMeat and HAQQ aims to onboard more local stores into this growing market using blockchain’s advanced capabilities.
Image Credit: Supplied by HAQQ
Key Features and Benefits of the Partnership
Although the US halal food and meat market is rapidly growing, it’s still significantly fragmented. There’s a real challenge for consumers living in non-Muslim communities to find halal food options regularly, and their options are often very limited. At the same time, local halal stores face scalability issues – they often cannot attract consumers outside their local communities. This partnership will try to solve these specific challenges and create a convenient way to access halal options.As a part of the collaboration, the GoMeat app will implement new features and functionalities possible thanks to the advanced solutions of the HAQQ network. The application’s UI will go through a complete overhaul, introducing more interactive, intuitive, and user-friendly elements. The ultimate goal of the revamped GoMeat app will be to streamline the entire halal purchasing process, from selecting the product to making the final payment.
The app will also integrate the HAQQ’s Web3 wallet, providing wider crypto payment options to the consumers. Previously, only GoMeat’s native token $GOMT was available for payments – now, they can use HAQQ’s native token, Islamic Coin ($ISLM), which is listed on several crypto exchanges, including KuCoin.
A New Milestone in Islamic Digital Finance
Over the past few years, the Islamic digital finance market has consistently grown: various projects have introduced fresh advancements to the global Muslim population. HAQQ and GoMeat are two such projects focused on bridging the gap between traditional Islamic Finance and digital asset technologies. While GoMeat is the first-ever blockchain-based delivery platform, HAQQ is one of the first Islamic blockchain ecosystems to introduce a Sharia-compliant cryptocurrency, Islamic coin.HAQQ brings a unique ethics-first risk-sharing model to the digital assets space, eliminating the traditional interest-based finance model. Its native token, Islamic Coin, with a market cap of over $11 million, brings a novel tokenomics structure to the market called ‘Century Coinomics.’ With this model, the HAQQ network secures a gradual and controlled new token minting, bringing more stability to the digital assets market.
GoMeat has effectively worked to reduce the gap between US consumers and halal retail stores since 2019. The app helps local stores digitalize their presence and cater to a wide community of halal/kosher consumers, granting easy access to various halal food options. So, the union between two of these emerging and yet very diverse blockchain projects signifies a major milestone for Islamic digital finance.
On the Technological Side
Through HAQQ’s blockchain framework, the GoMeat app will launch a new halal meat and food authentication system. Consumers will be able to verify and trace the halal certification process of the suppliers. This verification is critical for the Muslim community – halal authenticity is one of the core aspects of their purchase decision.The app will also have several new AI-driven features. The HAQQ network recently integrated SingularityNET, an industry-leading decentralized AI platform. This integration sets up ethical and regulatory compliance in transactions, and these capabilities will now be extended to the GoMeat app.
The collaboration between HAQQ and GoMeat represents a major community-driven initiative with the potential to set new milestones in the global Islamic digital finance market. It offers a sustainable and convenient pathway for local halal suppliers and stores to embrace modern digital finance through blockchain technology.
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