Loyyal signs with Dubai Holding to enhance commercial loyalty through blockchain
The agreement will aim to revolutionise commercial loyalty and Government incentivisation through Loyyal's blockchain capabilities
Loyyal, a founding member of the Dubai Global Blockchain, has signed an agreement with Dubai Holding to enhance and connect the consumer facing (B2C) loyalty propositions of the Jumeirah Group and new corporate (B2B) relationship value proposition with its sister company TECOM Group.
As part of the contract, Loyyal is deploying its proprietary and patent pending blockchain and smart contract infrastructure solution to re-map the way the Dubai Holding's businesses interact with consumers and each other.
The pilot will focus on The Jumeirah Group and TECOM Group, bringing together disparate loyalty schemes and separate businesses to unlock undiscovered relationship value and demonstrate the network effect opportunities of using the common ledger and distributed trust capabilities of blockchain.
Ahmad bin Byat, vice chairman and managing director, Dubai Holding, said: "Loyyal will be leading a pilot deployment to create innovative, feasible and cost-effective solutions for enhancing the interaction between the Group's businesses, ultimately enhancing our offerings to customers and business partners. We are thrilled to partner with game-changing companies such as Loyyal in driving forward the National Innovation Strategy."
Saif Al-Aleeli, CEO of the Dubai Future Foundation and founding member of the Global Blockchain Council, added: "We established the Global Blockchain Council here in Dubai less than a year ago, and are already seeing impressive advancements in the uptake of this technology. We are pleased by Loyyal's progress with Dubai Points, their partnerships with the private sector and look forward to working even closer with them as they bring the blockchain future to reality."
The partnership was facilitated by the Dubai Future Accelerators (DFA) programme, which is part of a 19 pilot project worth AED120m.