Owner of Burj Khalifa to launch Initial Coin Offering
Dubai: Owner of the tallest building, Burj Khalifa is set to launch Initial Coin Offering (ICO’s). Burj Khalifa the tallest building in the world, and the Emar Group, a billion dollar real estate development firm is planning to introduce its crypto-based token. The token will be based on Ethereum blockchain. The token is being referred to as ‘Emaar Community token’ and will available to the company’s partners and customers towards the end of the year.
A Switzerland-based blockchain startup Lykke AG is working along with Emaar Group on the technical details related to this Dubai based crypto to launch the ICO ( initial coin offering ). After the complete development of the ICO, the group intends to use it as part of the loyalty and referral program.
According to the press release as published by the Emar properties on 10th March 2019, the property’s customers will be able to transact with the token in Dubai based shopping malls, entertainment centers, online shopping stores, and various other retail outlets owned by the giant company.
Mohamed Albbar, the chairman at Emar properties, said, “We have embraced the digital world even as we continue to build the most advanced and innovative physical structures and we use both to delight and benefit our customers and stakeholders globally. The Emaar community token marks a significant leap in our digital transformation journey.”
Meanwhile, the CEO of Lykke Richard Olsen said that his company is focused on “cutting- edge technology infrastructure” and added, “We are thrilled to leverage our experience and expertise to support Emaar’s mission to bring value and utility to millions of users globally.”