Blockchain startup loyyal is participating in the historic Dubai Future Accelerators program, backed by a $275 million fund. The announcement from the startup, which focuses on global loyalty and rewards, comes after it paired up with His Highness Sheikh Mohammed bin Rashid Al Maktoum, VP and prime minister of the UAE and ruler of Dubai, and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the crown prince of Dubai and the chairman of the Dubai Future Foundation.
“As we commence our inaugural program, we are excited to see how some of the world’s most innovative companies and entrepreneurs collaborate with our strategic partners to create solutions that will transform the future of Dubai, and possibly the world,” said His Excellency Saif Al Aleeli, CEO of Dubai Future Foundation.
Partnering top companies with innovative entrepreneurs in the technology space, the concept around the program is to identify emerging technologies that overlap with business to ultimately engender groundbreaking results.
As PYMNTS reported earlier this summer, loyyal been a member of the Dubai Global Blockchain Council, focusing on developing a tourism-focused Dubai Points program.
“This program is unique as the objective to hand-select 31 of the most cutting-edge technology providers from around the world, bring them together to find solutions to specific government challenges and rapidly deploy those solutions into society,” said Greg Simon, CEO and cofounder of loyyal.
Program leaders believe loyyal’s expertise in blockchain technology will help create a prototype for high-potential solutions to increase customer satisfaction throughout Dubai Holding’s businesses.