A whole new level of NFT use-case has been unlocked by SouqNFT following announcements that the marketplace is hosting the world’s first NFT-based halal compliance certifications. The halal certificates are being minted and issued by Shariah Experts Ltd., and proudly powered by MRHB.Network, an ethical Islamic DeFi platform.
These NFTs are the first entirely immutable halal compliance certificates to be stored on a blockchain, giving the halal certification sector a new level of transparency. The NFTs will let organizations publicly prove that their company procedures and products have been certified halal, which indicates they follow Islamic law principles. This is unarguably a great feat for the MRHB ecosystem and the entire NFT sector that has been exploding in recent times.
SouqNFT marketplace was MRHB DeFi's initial debut offering, coupled with its $MRHB token, which was released in December 2021. SouqNFT is also the only NFT marketplace in the world to feature NFTs screened for halal compliance, ensuring that users will never come across any objectionable content on its platform. All NFTs issued on the marketplace are reviewed by the Shariah Governance Board (SGB), which is assisted by NSFW and NLP machine learning algorithms.
A leap forward in the certification issuance process, certificates recorded on the blockchain in the form of NFTs can help eliminate cumbersome authentication methods and slow verification processes, and can ultimately remove multiple points of failure along the way, such as loss or destruction of a paper or digital certificate.
More information here! https://bitmediabuzz.medium.com/shariah-experts-ltd-has-issued-the-worlds-first-nft-based-halal-certification-on-souqnft-421fbfa06306
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