MRHB represented blockchain technology and halal crypto at the World Halal Summit held on 24-26 November 2022. As the official Web3 partner, MRHB minted Soulbound Tokens (SBTs) via Souq NFT for the summit participants as proof of attendance. This was also an opportunity to introduce the MRHB ethical DeFi ecosystem to the 1.7 billion faith-based communities that tend to be excluded in the primarily interest-based DeFi space.
What Is The World Halal Summit?
The World Halal Summit is the largest annual halal event showcasing the latest developments in the global halal sector. International academicians and Islamic scholars congregate and discuss current topics at the conference. The topics include but are not limited to finance, tourism, food, medicine, pharmacy, cosmetics, textile, and modest fashion. The summit also hosts the Halal Expo whereby vendors from various industries exhibit their products and services.
This year, MRHB (pronounced ‘Marhaba’) had the opportunity to attend the summit representing Web3 and the blockchain industry.
The MRHB Team in attendance included Founder and CEO Naquib Mohammed, Chairman Khalid Howladar, Chief Commercial Officer Firas Singer, Chief Technological Officer Deniz Dalkilic, Head of Marketing Ahmed Jawa, and Head of Turkish Community Aslan Resit.
At MRHB’s booth (watch this short video on Twitter), the team interacted with the attendees and presented the currently available halal DeFi products namely Sahal, Souq NFT, and TijarX.
What Is A Soulbound Token?
A Soulbound Token (SBT) is a non-transferable and publicly verifiable digital token. It could be thought of as a non-fungible token (NFT) but it actually expands the use cases of NFTs.
Where NFTs are transferable, an SBT cannot be transferred. Because of this unique feature, it can serve as a verifiable proof of attendance as well as for immutable records such as employment history, work experience, and academic credentials.
In the case of the World Halal Summit, MRHB’s SBTs served as an immutable digital event ticket that undeniably proved the ownership of the ticket holder and verified their attendance.
Companies can now mint their own SBTs on Web3 via Souq NFT. By doing so, they will not only be participating in blockchain technology but also supporting halal crypto.
Bringing Halal DeFi to Istanbul
While Web3 concepts like Soulbound Tokens may be new to the mainstream or non-crypto natives, attendees at the World Halal Summit were excited to see a project working towards solving the issue of financial inclusion within the decentralized finance (DeFi) space where 1.7 billion faith-based communities are often excluded.
Even though they may not completely understand crypto, they now know that MRHB exists as a halal crypto solution. When they need our services, we will be available and ready to provide them.
The SBTs were probably the first interaction that the attendees had with Web3. Despite the rather difficult learning curve, the SBTs piqued their interest and they were open to learning more. Suffice it to say, it was an honor and a delight to show the potential of MRHB DeFi to the halal community.
This is why MRHB’s presence was important. The more exposure and impression a Web3 project has on people, the higher the chance for widespread adoption of blockchain technology.
MRHB The Halal DeFi Solution
Besides Souq NFT where you can mint NFTs and SBTs, MRHB also has a self-custodial multichain digital wallet app where you can see a list of halal crypto tokens, buy and sell cryptocurrencies, and access the rest of the MRHB DeFi ecosystem. With its simple interface, you will find it easy to navigate Sahal Wallet.
What’s more, you can save your friends’ wallet addresses in ‘My Contacts’ for ease of fund transfer. Sahal Wallet does not collect your personal information, private keys, and IP addresses so you can be sure that your funds are always safe in Sahal.