The name Loyyal may not ring a bell for most blockchain enthusiasts right now. Even though the company is focusing on global loyalty reward schemes, they have been flying under the radar. That was until earlier this week when the company announced they would participate in the Dubai Future Accelerators program. A big step for this blockchain startup, that much is certain.
What is so interesting about this announcement is how Dubai Future Accelerators came to be. This initiative is launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum and several other higher-ups. With US$275m in backing for this accelerator, Dubai wants to position itself as a leader in the innovative technology race.
A Big Step Forward For Loyyal
As one would expect, the primary purpose of this accelerator is to identify emerging technologies. Blockchain can address the world’s challenges and hurdles, and provide a much better ecosystem for all. Participants of the Dubai accelerator will receive support to develop prototypes. Assuming these developments are fruitful, deployment of the service across Dubai is on the agenda as well.
For Loyyal, participating in the Dubai Future Accelerators program is invaluable. The blockchain startup will work with Dubai Holding,