Burj Khalifa developer, Emaar group is launching its own token on JPMorgan’s blockchain

Emaar Group, Dubai leading real estate developer best known for the development of the world’s tallest building ‘Burj Khalifa’ is launching its native token EMR on JP Morgan’s blockchain. Emaar will provide Android and iOS mobile applications which will help users to earn or redeem EMR token.

To be launched later this year, the token will be rewarded to customers for their loyalty and business referrals. Users can redeem tokens in Emaar’s ecosystem which includes real estate, malls, hospitality, entertainment, facilities management, and online shopping.

The blockchain issued loyalty tokens will not only provide the same benefits as offered in the current Emaar’s loyalty program ‘U By Emaar‘ but also can be traded in exchanges, thereby, providing monetary value to the tokens.

“We have an existing ecosystem and a large customer base, as well as millions of further potential users globally who have yet to discover Emaar,” Hadi Kabalan, Director of Tokenisation at Emaar, said. “Our blockchain token platform positions us to grow our user engagement with today’s digital-native, mobile-first generation who expect a fairer internet and want to be part of the conversation.”