Dubai pilots blockchain rewards platform

Loyyal, a New York-based blockchain-based loyalty rewards platform, has signed a contract with multinational investment group Dubai Holding. The partnership is part of the Dubai Future Accelerators (DFA) program, which is supported by the government, especially blockchain technology, which is at the forefront and center of technology.

Ahmad Bin Byat, Managing Director of Dubai Holding, said in a statement:

Loyyal will lead the deployment of a pilot to create innovative, viable and cost-effective solutions that enhance interactions between the Group’s businesses, ultimately delivering better products to our customers and business partners.

The contract was officially signed on November 24 and was facilitated by the Dubai Future Accelerators programme, which brings together innovative solutions from entrepreneurs, startups and corporates, with up to $2 million in venture capital each month.

The Dubai government has been known to be supportive of blockchain efforts, going so far as to promise that all government documents will be covered by blockchain by 2020.