Loyyal, a New York-based blockchain-based loyalty and rewards platform, has snagged a contract with Dubai Holding, a multinational investment conglomerate. The partnership is a part of the Dubai Future Accelerators program, the government-supported accelerator program that has notably pinned blockchain technology front and center.
According to the announcement, the tie-up will see a blockchain pilot deployed toward loyalty programs in both business-to-customer (B2C) and corporate (B2B) propositions of Dubai Holding. Loyyal’s proprietary blockchain and smart contract solutions will be used and the startup sees partners like likes of IBM, Deloitte, the Hyperledger Project and now, the Dubai Future Foundation.
In statements, Ahmad bin Byat, managing director of 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.
The contract was formally signed on November 24th and is facilitated by the Dubai Future Accelerators (DFA) programme. The inaugural program brings together innovative solutions from entrepreneurs, startups and companies, with up to $2 million of venture capital, every month.