• Sun, 26 May 2019, 12:57 AM
  • All times are UTC
  • Edition:
    International
Link copied

Burj Khalifa owner Emaar Group to develop Ethereum-based loyalty token

Tue, 12 Mar 2019, 09:15 am UTC

UAE-based real estate giant Emaar Group has announced that is developing a blockchain-based token with plans to launch an initial coin offering (ICO).

Best known for its iconic Burj Khalifa, Emaar grew revenues by 37 percent in 2018 to US$7 billion and its brand value by 39 percent to US$2.7 billion, placing it among the highest tier brands in the world.

In a press release dated March 10, Emaar said that it has collaborated with Switzerland-based Lykke to build the Emaar community token. The referral and loyalty token will be based on the Ethereum blockchain and the ERC20 token framework.

Emaar added that the token will be transferable across its entire global ecosystem, including real estate, malls, hospitality, entertainment, facilities management and online shopping.

“The Emaar community token will allow Emaar’s customers and stakeholders to reap the value of a full referral and loyalty system across the entire group, cementing the global brand and opening the Emaar experience potentially to billions of internet users,” it said.

The company plans to offer the Emaar community token for customers and partners by the end of this year. It said that it will consider launching an ICO in Europe within 12 months of the internal operational launch of the platform.

“We have embraced the digital world even as we continue to build the most advanced and innovative physical structures and we use both to delight and benefit our customers and stakeholders globally. The Emaar community token marks a significant leap in our digital transformation journey,” Mohamed Alabbar, Chairman of Emaar Properties, said.

<Copyright © TokenPost. All Rights Reserved. >

The commenting service is available only after having logged in.
More
  • Bitcoin (BTC) $8,061.28 (+0.60%)
  • Ethereum (ETH) $252.33 (+0.85%)
  • XRP (XRP) $0.386500 (+0.23%)
  • Bitcoin Cash (BCH) $407.44 (-0.57%)
  • Litecoin (LTC) $103.67 (+3.69%)
  • Bitcoin (BTC) $8,061.28 (+0.60%)
May 24, 2019 (Friday)
12:18
Crypto Technicals: ETH/USD retraces above 1H 200-SMA, 'Hammer' on daily charts signals further gains
10:50
German engineering giant Bosch trials Ethereum blockchain
10:39
Crypto Technicals: BTG/USD grinds higher along 21-EMA, breakout at 61.8% Fib (25.74) will accentuate gains
09:33
Bank of Russia to review proposal on gold-backed cryptocurrency
09:17
Blockchain software firm Unstoppable Domains raises $4M from Draper Associates, Boost VC
08:45
Crypto Technicals: LTC/USD bounces off 21-EMA support, next bull target $109
08:45
Robinhood Crypto is now in New York
07:27
Facebook to launch its cryptocurrency 'GlobalCoin' in Q1 2020: Report
07:25
California resident sued for alleged $26M crypto Ponzi scheme
06:33
AT&T teams up with BitPay to become the first telecom to accept cryptocurrency payments
06:16
Rep. Swalwell accepting bitcoin donations in bid for US presidency
06:10
Grayscale receives FINRA approval to open Ethereum Trust to individual investors
05:12
Indian telco Airtel selects IBM for blockchain-based pan India anti-spam call solution: Report
05:07
Binance CEO CZ seeks compensation for reputational damage from Sequoia
04:06
Overstock.com’s blockchain subsidiary signs MOU with Lusaka city to develop land governance platform
03:57
Toyota, University of Tokyo, TRENDE to start testing blockchain-based electricity trading solution
03:14
Russia's NSD to roll out security token blockchain in June
May 23, 2019 (Thursday)
12:15
Crypto Technicals: IOT/USD holds 21-EMA support, retrace till 0.3185 (200-DMA) likely on break below
12:11
Coinstar extends bitcoin buying service to 21 US states
11:38
Crypto Technicals: BTC/USD bounces off session lows with 'Hammer' formation, bias neutral
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft