The UAE company, Emaar, launches a new token based on blockchain technology
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Answer The UAE company, Emaar, launches a new token based on blockchain technology
Emaar Properties is a real estate development company headquartered in the United Arab Emirates.
The company operates in six sectors through 60 active companies, and has a strong presence in 36 global markets distributed in the Middle East, North Africa, Asia, Europe and North America.
Yesterday, Thursday, Emaar announced the launch of a new referral and loyalty platform based on blockchain technology.
The new system, called EMR, aims to reward Emaar customers with special codes for loyalty referrals.
EMR codes will not only be redeemable at Emaar properties, but also available for exchange with other users.
The new product aims to provide Emaar customers with digital tokens that use blockchain technology.
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The Loyalty Points Code provides users with all the benefits offered by existing loyalty schemes but also provides real cash value through external trading platforms.
stated Mr. Mohamed Alabbar, President of Emaar, said:
Emaar did not become what it is by standing still or thinking about the little things.
By launching the EMR utility token ecosystem, Emaar is expanding the concept of connectivity.
As we are not only looking to the future, we are building it.
Consumers will be able to use the dedicated EMR mobile apps on Android and iOS to access the referral and loyalty system and earn or redeem EMR codes.
The platform and tokens are built on Quorum, one of the platforms built on Ethereum
The new tokens are expected to be issued before the end of the year with an early rights sale being conducted by Bitcoin Suisse AG and the process ending in October.
The interaction of Mr. Hadi Kabalan, director of Emaar Token, stated:
We have an existing ecosystem and a large customer base, as well as millions of other potential users globally who haven’t discovered Emaar yet.
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Our Blockchain Token system makes us develop user engagement with the current generation of digital phones, which is expected to make the internet more fair and we want to be part of the equation too.
Read also:
Dubai Chamber collaborates with Emirates NBD to finance trade using blockchain
The United Arab Emirates unveils a “Blockchain Hackathon” in Dubai
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