The representatives of one of the most famous investment company in UAE – Emaar Group which owns the highest building at the moment – Burj Khalifa, have announced plans to issue their own digital coin.
Recently the company issued a press release with plans to launch “the Emaar community token” for their customers and partners by the end of 2019. To implement their plans, the Emaar Group has entered into a contract with a startup Lykke AG, which should help with the release of the ERC-20 token.
After the release, the token will be used in the referral system and various loyalty programs of the company. It can also be used in offline and online stores, shopping and entertainment centers, which are a part of the Emaar company. Representatives of the largest developer in the Persian Gulf countries believe that in the future the client base of their token will reach the figure of 1 billion people. ICO will last a whole year, and not only Arab clients, but also investors from the European Union and the United States will be able to purchase a new cryptocurrency.
The release of the company’s own token suggests that the company’s intentions are to build “the most innovative and advanced physical constructions”. This is certainly “a significant leap in their digital transformation journey” according to the head of Emaar, Mohamed Alabbar.
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