Loyyal, a leading blockchain start up focused on creating the future in global loyalty and rewards, today announced that it is participating in the inaugural Dubai Future Accelerators program.
Launched under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, The Crown Prince of Dubai and the Chairman of Dubai Future Foundation, the Dubai Future Accelerators is backed by a AED 1 billion (US$275M) fund and is a historic and unprecedented program. The program pairs top companies and cutting-edge entrepreneurs with strategic partners in Dubai to collaborate on and create breakthrough solutions.
The program is designed to identify emergent technologies and businesses with the potential to address the world's most pressing challenges and opportunities, and then to support them in developing solutions and prototypes for rapid deployment across Dubai, and across the region where applicable.
Loyyal will be working closely with Dubai Holding, who is focusing on digital solutions across the hospitality, food and beverage, and real estate sectors that reduce paperwork and the need for human intervention, while increasing transaction speeds and customer satisfaction.
Commenting on the milestone, Greg Simon, CEO and Co-Founder of Loyyal, said "Loyyal is humbled and honored to be one of only a handful of technology companies selected for this historic opportunity. 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. People will be surprised how quickly what now is considered to be far-off futuristic technology will be real, thanks to the vision of the leadership of Dubai and the Future Foundation".
His Excellency Saif Al Aleeli, CEO of Dubai Future Foundation, added, "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".
Yousuf Almulla, Chief Strategy Officer, Dubai Holding, commented: "We believe Loyyal's expertise in blockchain technology can support the development of a prototype for high-value solutions to significantly enhance operations and customer satisfaction across Dubai Holding's businesses. It is a pleasure to be hosting and collaborating with talented team such as Loyyal, and we look forward to contributing towards creating a truly advanced and happier Dubai."
Loyyal is already a member of the Dubai Global Blockchain Council, and has been focusing on developing a Dubai Points program for Tourists. Further to this, Loyyal's vision for the future, is a concept running on the Loyyal blockchain based platform, to incentivize residents' voluntary behavior contributing towards individual happiness and the greater good of civil society. Imagine gamifying and rewarding things like keeping the city clean, recycling, conserving energy, exercising, educating/learning, etc. The residents concept will transform how government interacts with people to create and conserve value with an entirely new economic and behavioral model for the social age.