Emaar Group, one of the largest developers in the UAE and owning the tallest building in the world, has announced plans to launch its own token for loyalty programs, and intends to conduct an initial coin offering (ICO).
Towards the development of a private virtual currency launched the Swiss startup Lykke. Token is created on the basis of the Ethereum platform according to the most popular ERC-20 standard and should be launched by the end of 2019. Initially, the company develops a cryptocurrency for distribution directly between your clients and partners.
Token holders will be able to use it in shopping malls, entertainment venues, online stores and other facilities owned by Emaar. However, the developers expect that the cryptocurrency will go far beyond the internal community, planning to eventually attract 1 billion users around the world..
The company did not disclose the details of the initial public offering and the expected amount of fees. It is only known that the ICO is planned to be completed a year after the launch of the token, and will be held only in Europe..
With the help of virtual currency, Emaar wants to accelerate the digital transformation of the company, as well as further incentivize its customers and suppliers by rewarding them for loyalty and participation in referral programs..
Lykke says they have already developed a technology infrastructure for global use.
Tether Partner has also decided to expand its activities. She recently announced plans to release a new version of her stablecoin on the Tron blockchain in Q2 2019..
text: Ivan Malichenko, photo: staticflick, airinme
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