|Monday, 12 December 2016, 20:00 HKT/SGT|
|- Leading universal loyalty platform to revolutionize commercial loyalty and Government incentivisation in Dubai through its blockchain capabilities|
- In line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of UAE, Prime Minister of UAE and Ruler of Dubai, to bring an innovative future forward to become a reality
DUBAI, UAE, Dec 12, 2016 - (ACN Newswire) - Loyyal, the blockchain innovator building a global loyalty operator network, has signed a contract with Dubai Holding for a pilot deployment, both enhancing and connecting the consumer facing (B2C) loyalty propositions of the Jumeirah Group and new corporate (B2B) relationship value proposition with its sister company TECOM Group.
"Dubai Holding has always been at the forefront of innovation with landmark projects and several industry first initiatives including the support to Dubai Future Foundation," says Ahmad bin Byat, Vice Chairman and Managing Director, Dubai Holding. "Loyyal will be leading a pilot deployment to create innovative, feasible and cost-effective solutions for enhancing the interaction between the Group's businesses, ultimately enhancing our offerings to customers and business partners. We are thrilled to partner with game-changing companies such as Loyyal in driving forward the National Innovation Strategy," bin Byat explained.
The partnership was facilitated by the Dubai Future Accelerators (DFA) programme, between Loyyal and Dubai Holding, formally signed on Thursday 24 November 2016, with the landmark agreement aiming to realize the DFA's vision for technology innovation within Dubai's commercial and government sectors.
"We established the Global Blockchain Council here in Dubai less than a year ago, and are already seeing impressive advancements in the uptake of this technology. We are pleased by Loyyal's progress with Dubai Points, their partnerships with the private sector and look forward to working even closer with them as they bring the Blockchain future to reality," said Saif Al-Aleeli, CEO of the Dubai Future Foundation and Founding Member of the Global Blockchain Council.
As part of the contract, Loyyal is deploying its proprietary and patent pending blockchain and smart contract infrastructure solution to re-map the way the Dubai Holding's businesses interact with consumers and each other. The Pilot will focus on The Jumeirah Group and TECOM Group, bringing together disparate loyalty schemes and separate businesses to unlock undiscovered relationship value and demonstrate the network effect opportunities of using the common ledger and distributed trust capabilities of blockchain.
"We are honored to have been hosted by Dubai Holding to be part of the inaugural Dubai Future Accelerator," said Sean Dennis, Co-Founder and Chief Happiness Officer, Loyyal. "As a city, Dubai isn't just looking towards the future, it is harnessing innovation, knowledge and technology to ensure that future becomes a reality."
Loyyal is reinventing how loyalty is created and rewarded. Using blockchain and smart contract technology, Loyyal has built an interoperable loyalty and rewards platform to address a highly fragmented industry, and offer multiple sectors an innovative way to incentivize customer behavior.
Loyyal, a founding member of the Dubai Global Blockchain Council and the blockchain industry's Hyperledger Project, joined the very first cohort in the Dubai Future Accelerators program in October 2016. Looking to bring the future forward faster, the program has united the best organisations, entrepreneurs and government entities to test solutions for seven key civic challenges and to tackle the most complex opportunities of the 21st century. It then invests in breakthrough technologies to make innovative ideas become a reality - for Dubai, the region, and the rest of the world.
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About Dubai Holding
Dubai Holding is an investment conglomerate with operations in 24 countries employing over 22,000 people. Established in 2004, Dubai Holding today manages an AED 130 billion portfolio of assets, which supports the strong development of Dubai's non-oil economy across sectors including; tourism, hospitality, real estate, media, ICT, education, design and trade. Its portfolio includes TECOM Group, which manages 11 of Dubai's most successful business communities; Jumeirah Group, the hospitality arm which owns and operates 22 hotel developments in 11 destinations in 9 countries; Dubai Properties Group, one of the largest fully integrated and community development business in Dubai; Family Entertainment and New Media, which implements a strategic plan to develop new family destinations and further grow digital media business lines.
Dubai Holding's current project pipeline will add significantly to the Emirate's portfolio of landmarks. This includes Mall of the World, all-season city district comprising the world's largest retail network; and Dubai Creek Harbour, a joint venture with Emaar Properties to build a futuristic waterfront city at The Lagoons. Dubai Holding plays an influential role in delivering on Dubai's economic diversification strategy and initiatives such as Tourism Vision 2020, Dubai Smart City, Dubai Innovation Strategy, Dubai Industrial Strategy and Capital of Islamic Economy.
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About the Dubai Future Accelerators
The Dubai Future Accelerators, the largest government-supported accelerator globally, launched by Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, in line with the directives of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, will develop and support innovative solutions for seven key government entities: Dubai Roads and Transport Authority, Dubai Electricity and Water Authority, Dubai Police, Dubai Municipality, Dubai Health Authority, Dubai Holding, and Dubai Knowledge and Human Development Authority.
For information about Dubai Future Accelerators, please visit www.dubaifutureaccelerators.com.
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Topic: Contract Awarded
Sectors: Cards & Payments, Retail & eCommerce, Daily Finance, Daily News, Crypto, Exchange, Blockchain Technology, PE, VC & Alternatives
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