After incubation by Dubai Future Accelerators, Loyyal hits a new global milestone through IBM partnership

Journey continues for the company since graduating from Dubai Future Accelerators program, joining forces with tech heavyweight IBM for blockchain ecosystem

Dubai, UAE, 16 January 2017:  Leading universal loyalty platform Loyyal has marked another key milestone after joining IBM in its revolutionary blockchain ecosystem. IBM is harnessing blockchain to transform the way industries transact by creating an ecosystem where key industry players, such as Loyyal, are working together. 

The blockchain ecosystem aims to empower innovators which are looking to build real networks, including start-ups, venture capitalists, systems integrators, enterprise developers and independent software vendors. By providing these diverse organisations with an open environment where companies and organisations can collaborate, share tools and access development support, the IBM ecosystem allows them to benefit from blockchain’s network effect and accelerates the formation of new blockchain networks.

“We are very excited to be working with IBM on the Blockchain Ecosystem,” says Loyyal founder Gregory Simon. “As we continue to pioneer the application of blockchain in the Middle East, we look forward to sharing our knowledge and experiences with our peers in the industry and further develop our business and capabilities by accessing the skills and expertise from the blockchain community and best practice thought leadership from IBM.”

Loyyal’s new partnership with IBM marks the latest stage in the company’s expansion as it cements its position as the region’s leading blockchain innovator. Utilising blockchain technology is a key ambition for the Dubai government, and in October 2016, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Crown Prince of Dubai and chairman of Dubai Executive Council, launched the Dubai Blockchain Strategy. The new strategy aims to set the emirate apart as a world leader in developing and applying blockchain networks; to create more valued services and employment opportunities across a wide variety of sectors based on blockchain networks; and to improve efficiency levels in government departments, such as by shifting all government transactions to blockchain to go paper-free by 2020. 

As the region embraces the opportunities offered by blockchain, Loyyal has taken the lead as an industry influencer and innovator. The company has already taken part in the Dubai Future Accelerators program to help transform the future of the emirate, partnering with Dubai Holding to revolutionize the tourism and hospitality sector through the application of blockchain technology. Loyyal’s landmark agreement with Dubai Holding will see the companies work together to re-write the way the industry interacts with both residents and visitors. Alongside plans to increase levels of efficiency and consumer engagement, Loyyal will also be developing the ‘Dubai Points’ scheme, a smart, customer-focused program which aims to incentivize consumers to visit touristic and culturally-important sites across the city.