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Emaar UAE Will Launch a Blockchain Royalty System

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Emaar Group, a leading UAE property developer and the one who developed the world’s tallest building “Burj Khlaifa” in Dubai, revealed that it will be releasing a new blockchain-based referral and loyalty platform later this year.

Emaar new royalty token will be called EMR, Emaar customers Dwill earn EMR tokens for their loyalty and business referrals. EMR tokens will not only be redeemable in Emaar’s real estate, hotels, ecommerce operations and malls, but can also be traded with other users, the company said in a statement.

Emaar said this is the first product of its kind being launched in the world, which aims to provide customers with digital tokens using blockchain technology on a mobile application.

In the last couple of years, UAE business entities and the city of Dubai have shown interest in blockchain technologies.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

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BitOasis Partners With MBC Group

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BitOasis, the Middle East and North Africa’s (MENA) leading crypto-asset trading platform, has entered into a strategic partnership with MBC GROUP, the largest and leading media company in the MENA region. 

The tie-up will see MBC support BitOasis in rolling out crypto educational and awareness campaigns across the region through MBC GROUP’s full portfolio of digital platforms and TV channels. 

UAE-based BitOasis has grown to become the region’s largest crypto trading platform, having recorded over USD 4 Billion in trading volume to date.

According to “The Chainalysis 2021 Geography of Cryptocurrency Report”, the MENAT (Middle East, North Africa & Turkey) region’s cryptocurrency market grew by 1500% between July 2020 and June 2021. The recent surge in crypto activity makes the MENAT region one of the fastest growing markets in the world. A recent You Gov study shows that 21% of those surveyed in the UAE indicated that they intended to invest in crypto within the next 12 months – the third highest figure globally. The same survey shows that 18% of Saudi residents already trade in crypto. BitOasis plans to connect with this audience via its trusted regional brand and a new educational program distributed across the largest media network for MENA.

Commenting on the growth potential within the regional crypto space, Ola Doudin, CEO and co-founder of BitOasis said: “In countries like the UAE and Saudi Arabia crypto assets are steadily going mainstream due to early adoption by tech-savvy Millennial and Gen Z retail investors, but a massive majority across the region still do not have a good understanding of this emerging asset class. BitOasis has an obligation to address that. We are ramping up efforts to ensure consumers are aware and educated about investing in crypto across our region whilst offering the simplest and most accessible way to invest.”

Doudin continued: “Our collaboration with the MBC Group aligns with BitOasis’s long-term objective of building an efficient, secure and inclusive virtual asset ecosystem within the region. Crypto education is front and center of our strategy, and MBC’s trusted and high-visibility platforms will allow us to localize our approach towards educating regional audiences about virtual assets.”

Fadel Zahreddine, Group Director of Emerging Media at MBC GROUP added:  

“We’re witnessing the fast speed at which our region is embracing and adopting the blockchain and web3 technologies. Seeing as how crypto currencies are essential to this ecosystem, we see this partnership as a natural progression as we usher in this new era.”

Srinu Chowhan, VP of Marketing & Growth at BitOasis adds: “Our goal is to bridge the crypto knowledge gap, and our partnership with MBC will help us realize this goal. BitOasis’s crypto awareness initiatives will help demystify blockchain and crypto assets, and MBC’s media platforms will play a key role in ensuring this educational content reaches across the region.”

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UAE to issue its own Govcoin Cryptocurrency

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Dubai Airlines plans to acceptBitcoin as a payment service

The Central Bank of the United Arab Emirates (CBUAE) has unveiled its plan to launch a new digital currency as part of its 2023-2026 strategy plan to become one of the world’s top 10 central banks.

In its announcement, the CBUAE said that its strategy includes seven objectives, including the issuance of the digital currency – known as CBDCs or Govcoins – and driving digital transformation in the UAE’s financial services sector by utilising the latest artificial intelligence and big data solutions.

The strategy will also see technology used across inspection, monitoring and insurance systems, in addition to utilising the UAE’s digital ID infrastructure (UAE Pass) to bolster financial inclusion and easy access to financial services.

The UAE and some of the other Gulf economies have talked about introducing digital currencies at some stage. By making it part of its 2023-26 roadmap, the UAE regulator has set a clear timeline.

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Dubai Launches Blockchain-Enabled E-Marketplace For Trading Agricultural Commodities

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Dubai Airlines plans to acceptBitcoin as a payment service

Government of Dubai has launched the Blockchain-enabled Agriota E-Marketplace for sourcing and trading agricultural commodities. The new platform will connect Indian farmers with companies in the United Arab Emirates to trade cereals, pulses, oil seeds, fruits, vegetables, spices and condiments.

The ultimate goal of positioning our nation as a world leading hub in innovation-driven food security

Ahmed Bin Sulayem, the chief executive officer of the DMMC, which runs a free trade zone, said in a statement.

The launch was attended by His Excellency Pavan Kapoor, Ambassador of India to the UAE and focused on how the Agriota platform will positively impact the UAE’s food security and economy and the way in will also boost trade ties with India

This is a powerful example of transparency, digital efficiency and disintermediation, as Indian farmers connect directly with the UAE’s food industry (food processing companies, traders, and wholesalers). This reduces the role of intermediaries, and makes supply chain and traceability efforts more efficient. Other services on the platform include accounting, contract, and regulatory compliance services, which reduces bureaucracy for all involved.

Agriota platform was developed by CropData Technology, an Indian company whose mission is to help marginal and small farmers.

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