Client at a glance
Empowering Sustainable Investments Through TREE Tokens
Emaar has been a pioneer of master-planned communities in Dubai since its inception in 1997. Emaar wanted to engage its customer base across the whole Emaar group of businesses in a fun and initiative way. We partnered with Lykke Business, a leading Swiss-based financial consulting company, to help Emaar build an appropriate tokenization model and platform to create an engaging experience through the group.
Challenge
Emaar faced several key challenges:
- Fragmented loyalty schemes across multiple business units, limiting cross-business integration and user benefits.
- Lack of interoperability between reward points and services across its portfolio, creating a disjointed customer experience.
- A need for a scalable, blockchain-based system to ensure seamless transactions and traceability of customer behavior.
- Desire to break through competing loyalty programs and achieve a global impact aligned with Emaar’s ambitious vision.
Emaar required a unified solution that incorporated loyalty and payment functionalities, allowing for the transfer of rewards across its ecosystem and integration with public blockchains for added flexibility.
Our Approach
We collaborated with Emaar and Lykke Business to design and implement an innovative blockchain-based referral and loyalty platform.
Key actions included:
- Tokenization Model: Designed the EMR token on JP Morgan’s Quorum (a private Ethereum fork) to enable real-time transactions, transferability, and exchangeability for other tokens or cash.
- Mobile Application Development: Built a cutting-edge app using Google’s Flutter framework, enabling users to earn, transfer, and utilize tokens seamlessly.
- Referral and Loyalty System: Developed a comprehensive system allowing users to:
- Refer people to Emaar services, such as hotels or real estate, and earn tokens for successful referrals.
- Use tokens for payments or exchange them on public blockchains after wallet ownership verification.
- Pay property installments with tokens.
- Seamless Integration: Achieved close integration with Emaar’s systems to ensure token usability across its ecosystem and real-time transaction settlement.
Impact delivered
- Established a state-of-the-art tokenized ecosystem for loyalty and referrals.
- Streamlined user experience across Emaar’s businesses, boosting engagement and retention.
- Increased cross-sales, driving revenue by incentivizing customer behavior across the group.
- Reduced operational costs and resolved overseas payment challenges with instant settlements.
- Enabled traceability of transactions and deeper insights into purchasing behavior.