The Dubai-based Emaar Group, which owns the world’s tallest building – Bourge Khalifa – plans to launch its own EMR token by the end of this year.
EMR will be an instrumental token on the JPMorgan Quorum blockchain. The company plans to use tokens in the referral program, as well as in the loyalty program to reward customers.
“EMR tokens can be used not only to pay for rent, hotel reservations, purchases on the Internet and shopping centers, but also for trading with other token holders,” said Emaar Group.
For the convenience of users, the company will also launch mobile applications for the Android and iOS operating systems. Applications are expected to appear on the Apple AppStore and Google Play by the end of this year.
Note that the company announced plans to create its own token and conduct an ICO back in March this year, however, it was originally planned that the token would be issued on the Ethereum blockchain.
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