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Emaar to launch blockchain-based loyalty token platform

Dubai-based property giant Emaar Properties PJSC will launch a blockchain-based referral and loyalty platform by 2019-end, rewarding customers with digital tokens, Arabian Business reported.

Tokens from the EMR platform will be redeemable across Emaar's businesses, which include real estate, hotels, e-commerce operations and malls, and may be traded with other users.

The platform and tokens are built on JPMorgan's version of Ethereum called Quorum. Early sale of rights has been conducted by Bitcoin Suisse and will end in October, according to the publication.