Dubai Selects Blockchain Tech for Tourism Loyalty Points

The Dubai Future Foundation has turned to a Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term startup to develop a new repeated tourism incentivization program called Dubai Points. The system is developed by Loyyal, the blockchain and smart contracts platform for loyalty and rewards (formally known as Ribbit.me).

Dubai Points will be earned and redeemed at participating locations based on the tourist's lifestyle as well as time of day, past behavior, location, age and more. Confirmed participants in the program already include a local airline, Jumeirah, du, Flyin, Privity, Digitus, the International Culinary Centre for Culinary Arts Dubai, SquareCircle Tech, Dubai Future Foundation and others.

"This will be both the world's first tourism incentification program and the largest scale public/private sector collaboration using blockchain and Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term technology ever. We want Dubai to become the happiest city in the world by 2020. This program helps by giving Dubai a customizable and personal relationship with every visitor," said Greg Simon, CEO and co-founder of Loyyal.

Said Saif Al Aleeli, CEO of Dubai Future Foundation added: "This program is proof that blockchain is not limited to financial transactions but could be used in many ways, including promoting tourism. The Foundation established the Global Blockchain Council as part of its Future Agenda to explore emerging technologies, investigate their impact, and also come up with ways to regulate it."

Carlos Domingo, Senior Executive Officer of New Business and Innovation at du, a UAE Telecommunications company, commented: "As part of du's ongoing endeavor to contribute in positioning Dubai as one of the most rewarding and attractive tourist destinations in the world, we are proud to be part of the innovative Loyyal Dubai Points initiative as a world-first for any tourist destination to have this scheme.

Building on blockchain technology's capabilities in offering a superior means of powering loyalty-points programs, du will be facilitating communications and providing identity confirmation for this initiative, in a move to enable tourists to benefit from the industry-first loyalty program that is projected to boost business opportunities."

Sean Dennis, COO and co-founder of Loyyal, highlighted: "Many tourists visiting Dubai may miss out on experiencing its rich history and culture, as well as so many of the activities or facilities on offer. Dubai Points will incentivize tourists to visit other locations that may be suited to their preferences by rewarding them with points when they visit, and allowing for dynamic redemption based on their what they value."

Earlier this month it was revealed that accounting giant Deloitte is working with Loyyal and four other startups to provide new blockchain solutions to its clients.