Emaar Group, one of the largest developers in the UAE, which owns the highest world building, announced plans to launch their own tokens for loyalty programs, and intends to conduct primary placing coins (ICO).
Swiss startup Lykke started to develop a private virtual currency. The token is created on the basis of the Ethereum platform according to the most popular ERC-20 standard and must be launched until the end of 2019. Initially, the company is developing cryptocurrency for distribution directly between its customers and partners.
Tocken owners will be able to take advantage of them in shopping centers, entertainment establishments, online stores and other EMAAR facilities. However, developers expect cryptocurrency to be found beyond the framework of the domestic community, planning as a result to attract 1 billion users around the world.
The company did not disclose the details of the primary placement and the expected amount of fees. It is only known that ICO is planning to complete a year after the launch of the tokeny, and will only hold on the territory of Europe.
With the help of virtual currency, Emaar wants to speed up the company’s digital transformation, as well as additionally stimulate its customers and suppliers, reward them for loyalty and participation in referral programs.
Lykke representatives report that they have already developed a technological infrastructure for global use.
Tether Partner also decided to expand its activities. She recently announced the plans of the release