Dubai-based real estate developer Emaar Properties says that it plans to launch this year a blockchain-based referral and loyalty platform called EMR that is being built on Quorum, JPMorgan Chase's enterprise-focused fork of Ethereum.
Emmar Properties is one of the world's leading real estate development companies. Its best-known project is Burj Khalifa, which is the world's tallest building. This is a skyscraper in Dubai, United Arab Emirates (UAE) that has a roof height (i.e. total height - the height of the antenna) of 828 m (2,716 ft ).
According to a report published on October 17 by local media outlet ArabianBusiness.com, the EMR platform rewards Emmar's customers with EMR tokens. Emmar says that these tokens "will not only be redeemable in Emaar’s real estate, hotels, ecommerce operations and malls, but can also be traded with other users."
Emmar Chairman Mohamed Alabbar had this to say:
We didn’t become Emaar by standing still, or by thinking small. By launching the EMR utility token ecosystem, Emaar is expanding the concept of connection. We aren’t just looking into the future — we are building it.
It will be possible for customers to use a mobile app (available for iOS and Android) to "access the referral and loyalty system and earn or redeem EMR tokens."
Hadi Kabalan, director of tokenisation at Emaar, stated:
We have an existing ecosystem and a large customer base, as well as millions of further potential users globally who have yet to discover Emaar. Our blockchain token platform positions us to grow our user engagement with today’s digital-native, mobile-first generation who expect a fairer internet and want to be part of the conversation.
For those of you who have not come across Quorum before, here is how a member of the Quorum team described the project in a reply to a Reddit post in November 2018:
"Quorum is a fork of the go-ethereum (geth) client with a few updates that add enterprise level features such as supporting private txns, node permissioning, fast consensus algorithms, block finality, and some others. It was originally created through a joint effort by JPMorgan and core engineers from the Ethereum Foundation. Beyond that, it has advanced to keep up with geth releases and has a full time team dedicated to it and its sub projects... Quorum does not have a mainnet, and the expectation is that users of it set up their own network, be it private or otherwise (we are aware of several that are public)."