Emaar Group is ready to launch an Emaar Community Token on Dubai-based real estate giant Ethereum [ETH] blockchain and ERC 20 token framework. The Emaar group was behind the development of the world’s tallest building, Burj Khalifa, Dubai Fountain, Dubai Mall and Dubai Opera House. The group has revenue of $ 5.38 billion.
Mohammad Alabar, chairman of Emaar Properties, Ethereum [ETH] is critical in attracting customers and stakeholders across the world by taking advantage of Blockchain and adopting the digital ecosystem to design advanced and innovative physical structures. he adds,
The Emaar community token marks a significant leap in our digital transformation journey.
The token will be manufactured by Swiss’s leading blockchain company TechLike AG. Richard Olsen, the founder and CEO of Like claimed that the token is “cutting edge technology”. He said that the fundamental goal was to enable mobile and internet users to participate in economic activities. he adds,
“We are thrilled to leverage our experience and expertise to support Emaar’s mission to bring value and utility to millions of users globally.”
According to a blog post by the Swiss firm, community tokens will be transferable. The post also mentions that token will be active in the ecosystem, providing access to real estate, mall, facility management, retail, hospitality and entertainment to customers and stakeholders.
When Ethereal Blockchain was not built, then Lykke AG Technologies had created an asset-based token on the first bitcoin blockchain. A statement issued by the firm said,
“Lykke is focused on bringing financial technology to the masses, with users of its mobile app and token exchange platform benefiting from decades of knowledge gained in servicing retail clients globally.”
According to Lykke AG’s post, community tokens will enable Emaar’s global customers and stakeholders to first reach full referrals and loyalty systems. In this post, a potential initial coin offer has been mentioned in Europe [ICO] within one year of the release of the token on ETH Blockchain.