|Friday, 7 October 2016, 21:00 HKT/SGT|
|Loyyal is one of only 31 companies, out of 2,274 worldwide that applied, to be selected by the Dubai Future Foundation team to participate in Dubai Future Accelerators|
NEW YORK, NY, Oct 7, 2016 - (ACN Newswire) - Loyyal, a leading blockchain start up focused on creating the future in global loyalty and rewards, today announced that it is participating in the inaugural Dubai Future Accelerators program.
Launched under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, The Crown Prince of Dubai and the Chairman of Dubai Future Foundation, the Dubai Future Accelerators is backed by a AED 1 billion (US$275M) fund and is a historic and unprecedented program. The program pairs top companies and cutting-edge entrepreneurs with strategic partners in Dubai to collaborate on and create breakthrough solutions.
The program is designed to identify emergent technologies and businesses with the potential to address the world's most pressing challenges and opportunities, and then to support them in developing solutions and prototypes for rapid deployment across Dubai, and across the region where applicable.
Loyyal will be working closely with Dubai Holding, who is focusing on digital solutions across the hospitality, food and beverage, and real estate sectors that reduce paperwork and the need for human intervention, while increasing transaction speeds and customer satisfaction.
Commenting on the milestone, Greg Simon, CEO and Co-Founder of Loyyal, said "Loyyal is humbled and honored to be one of only a handful of technology companies selected for this historic opportunity. This program is unique as the objective to hand-select 31 of the most cutting-edge technology providers from around the world, bring them together to find solutions to specific government challenges, and rapidly deploy those solutions into society. People will be surprised how quickly what now is considered to be far-off futuristic technology will be real, thanks to the vision of the leadership of Dubai and the Future Foundation".
His Excellency Saif Al Aleeli, CEO of Dubai Future Foundation, added, "As we commence our inaugural program, we are excited to see how some of the world's most innovative companies and entrepreneurs collaborate with our strategic partners to create solutions that will transform the future of Dubai, and possibly the world".
Yousuf Almulla, Chief Strategy Officer, Dubai Holding, commented: "We believe Loyyal's expertise in blockchain technology can support the development of a prototype for high-value solutions to significantly enhance operations and customer satisfaction across Dubai Holding's businesses. It is a pleasure to be hosting and collaborating with talented team such as Loyyal, and we look forward to contributing towards creating a truly advanced and happier Dubai."
Loyyal is already a member of the Dubai Global Blockchain Council, and has been focusing on developing a Dubai Points program for Tourists. Further to this, Loyyal's vision for the future, is a concept running on the Loyyal blockchain based platform, to incentivize residents' voluntary behavior contributing towards individual happiness and the greater good of civil society. Imagine gamifying and rewarding things like keeping the city clean, recycling, conserving energy, exercising, educating/learning, etc. The residents concept will transform how government interacts with people to create and conserve value with an entirely new economic and behavioral model for the social age.
Loyyal is reinventing how loyalty is created and rewarded. Using blockchain and smart contract technology, Loyyal has built an interoperable loyalty and rewards platform to address a highly fragmented industry, and offer multiple industries an innovative way to incentivize customer behavior.
For information about Loyyal, please visit www.loyyal.com or email to [email protected].
Media inquiries may be directed by email to [email protected]
About the Dubai Future Accelerators
The Dubai Future Accelerators, the largest government-supported accelerator globally, launched by Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, in line with the directives of His Highness Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, will develop and support innovative solutions for seven key government entities: Dubai Roads and Transport Authority, Dubai Electricity and Water Authority, Dubai Police, Dubai Municipality, Dubai Health Authority, Dubai Holding, and Dubai Knowledge and Human Development Authority.
For information about Dubai Future Accelerators, please visit www.dubaifutureaccelerators.com.
Media inquiries may be directed by email to [email protected].
About Dubai Holding
Dubai Holding is an investment conglomerate with operations in 24 countries employing over 22,000 people. Established in 2004, Dubai Holding today manages an AED 130 billion portfolio of assets, which supports the strong development of Dubai's non-oil economy across sectors including; tourism, hospitality, real estate, media, ICT, education, design and trade. Its portfolio includes TECOM Group, which manages 11 of Dubai's most successful business communities; Jumeirah Group, the hospitality arm which owns and operates 22 hotel developments in 11 destinations in 9 countries; Dubai Properties Group, one of the largest fully integrated and community development business in Dubai; Family Entertainment and New Media, which implements a strategic plan to develop new family destinations and further grow digital media business lines.
Dubai Holding's current project pipeline will add significantly to the Emirate's portfolio of landmarks. This includes Mall of the World, all-season city district comprising the world's largest retail network; and Dubai Creek Harbour, a joint venture with Emaar Properties to build a futuristic waterfront city at The Lagoons. Dubai Holding plays an influential role in delivering on Dubai's economic diversification strategy and initiatives such as Tourism Vision 2020, Dubai Smart City, Dubai Innovation Strategy, Dubai Industrial Strategy and Capital of Islamic Economy.
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Oct 7, 2016 21:00 HKT/SGT
Topic: General Announcement
Sectors: Cards/Payments, Retail/eCommerce, E-commerce, Mobility/Wireless, Currencies
From the Asia Corporate News Network
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