• Sun, 24 Mar 2019, 06:44 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) $4,023.19 (-0.46%)
  • Ethereum (ETH) $137.45 (-0.70%)
  • XRP (XRP) $0.311100 (-0.55%)
  • Litecoin (LTC) $60.70 (-0.54%)
  • EOS (EOS) $3.65 (-1.12%)
  • Bitcoin (BTC) $4,023.19 (-0.46%)
Mar 22, 2019 (Friday)
10:46
SBI Group partners with U.S.-based semiconductor firm to manufacture crypto mining hardware
10:03
Square seeks engineers for new crypto-related initiatives
09:02
Cardano Foundation joins European Commission’s blockchain initiative INATBA as founding member
07:09
Blockchain smartphone maker Sirin Labs partners with MyEtherWallet
06:21
Alibaba, Aerospace Information partner to foster blockchain development
05:30
UPS partners with blockchain startup Inxeption for B2B e-commerce platform
04:36
Financial market veteran Rob Catalanello to lead crypto liquidity provider B2C2’s US expansions
03:44
Numerai secures $11M from Paradigm and Placeholder via token sale
Mar 21, 2019 (Thursday)
11:49
Former Prime Minister of Denmark joins blockchain firm Concordium as strategic advisor
11:00
North Korean dissident group CCD to issue blockchain-based post-liberation visas
10:03
Switzerland inches closer to cryptocurrency regulation
09:07
Huobi Global to launch token sale platform “Huobi Prime”
07:21
Asia Pacific Leaders Malaria Alliance’s M2030 partners with Dragonchain for blockchain-based services
06:10
CoinMarketCap launches of crypto indices on Nasdaq, Bloomberg, Reuters
05:09
seriesOne, Polymath partner to simplify security token issuance
04:13
Binance launches cash-to-crypto brokerage service in Australia
03:45
IoT startup Filament joins Enterprise Ethereum Alliance
Mar 20, 2019 (Wednesday)
11:43
Wirex launches crypto-friendly business accounts
10:43
Ground X to launch public testnet of blockchain platform 'Klaytn’ on March 29
10:08
Seoul Medical Center, Korean Ministry of Science and ICT collaborate on blockchain project
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft