Owner of Burj Khalifa,Dubai Mall, launching token on JPMorgan’s blockchain

[Arbitr13]

What do you think about the EMRtoken? It is the name behind Burj Khalifa (tallest building in the world) and Dubai Mall (second largest mall).

https://www.reddit.com/r/EMRtoken/

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[ansi]

The news is probably kind of new, can't find it in any decent or trusted crypto website ye, may be this was the best place i found it after searching google:
https://bitnewstoday.com/news/dubai-emaar-properties-to-develop-a-platform-and-issue-emr-token

No detailed informations about the project & how it works.

[ecnalubma]

I believe that JPMorgan is only offering their blockchain services to their corporate clients, no wonder that this giant company is under their fence. This company is really much more focus about their companies welfare and could bring crypto adoption to different institutions and large businesses.

[dothebeats]

Billionaires can vibe with billionaires and do whatever they like. I’m actually not against this nor supporting it but at this point, this is just another intent of the rich to get richer by introducing a new coin in the market. If it can be used within their malls and properties then good for them, at least their token is actually being put into good use. And this could also be the first time that a cryptocurrency would be used in something other than profits if what I stated above is true, at least for the obscure altcoin side of things.

[rosezionjohn]

It is a tokenized loyalty points with a referral system. Unlike the regular loyalty points, it can be traded to other users which are more likely customers of Emaar's real estates.

The news i probably kind of new, can't find it in any decent or trusted crypto website ye, may be this was the best place i found it after searching google:
https://bitnewstoday.com/news/dubai-emaar-properties-to-develop-a-platform-and-issue-emr-token

I have read this a couple of days ago https://cointelegraph.com/news/burj-khalifa-developer-emaar-to-launch-tradeable-reward-token-emr
Here is the source article https://www.arabianbusiness.com/news/430766-emaar-says-to-launch-loyalty-tokens-system-by-end-2019

No detailed informations about the project & how it works.

It's JP morgan blockchain, do not expect transparency or more details.

[Ferris419]

The Reddit source is not convincing me! Jpm and the Burj Khalifa owner both are Billionaire. So, if it really happens,  there should be a hype 9n every crypto media news. I think this is fake news. Because we all k ow about JOM coun and it's future use cases. Maybe the Burj Khalifa owner will have own native blockchain instead of having the jpm blockchain!

[SaShiRaJaVu]

What do you think about the EMRtoken? It is the name behind Burj Khalifa (tallest building in the world) and Dubai Mall (second largest mall).

Why would they want their own token, not sure what they are planning to do with the token. Burj Khalifa and Dubai Mall are near each other and it is owned by a real estate company and from what i guess they are releasing the token to advertise that they are advanced and following the technology and other than that i do not think it will of any use.

[o48o]

What do you think about the EMRtoken? It is the name behind Burj Khalifa (tallest building in the world) and Dubai Mall (second largest mall).

https://www.reddit.com/r/EMRtoken/

How can they use anything crypto-based currencies in there? Isn't there a cryptocurrency ban still in place in the United Arab Emirates or have they already lifted it?

[CjMapope]

i remember they declared BTC halal there last year or w.e so i guess it makes sense these guys would get in
theres alot of big news happening lately, 2020 1/2ing could be yuge bois
i just hope that since its on JPMorgan's chain it wont be fully private and unlisted like most of their shit : /

interesting times for BTC!

[bigcash2011]

It is indeed a superb news i would love to read more details about it especially if they will tokenize some of their real estate projects that would be epic, i would have liked more if they have issued their tokens on mainstream blockchains like eth.

[tabas]

I see that you are the one that also created that sub-reddit. Are you part of the project? well Emaar properties are known for that and if this is a real project, this is just going to like a points system.

How can they use anything crypto-based currencies in there? Isn't there a cryptocurrency ban still in place in the United Arab Emirates or have they already lifted it?

I didn't know about this, anyone who can confirm about crypto ban there?

[magneto]

What's interesting here is that they're not choosing to launch it on more established blockchains like ETH, EOS, etc., but rather going with JPMorgan's centralised blockchain that hasn't really even been proven or widely adopted yet apart from their internal activities.

Why is that? Is there a particular reason for that here?

Perhaps it's a ploy to hype up JPMorgan's blockchain and stablecoin? That's a wild speculation but it would explain the intentions behind such a move.

[Arbitr13]

https://medium.com/ethex-market/emr-whitepaper-1-0-b113f8457945

[rodel caling]

The news is probably kind of new, can't find it in any decent or trusted crypto website ye, may be this was the best place i found it after searching google:
https://bitnewstoday.com/news/dubai-emaar-properties-to-develop-a-platform-and-issue-emr-token

No detailed informations about the project & how it works.

That is true mate how it works if the projext are no details information to encourage people to buy or invest even if the devs is the rich how people trust the project if laxk of idetails information as guideline for their investment security.

[JeffBrad12]

I believe that JPMorgan is only offering their blockchain services to their corporate clients, no wonder that this giant company is under their fence. This company is really much more focus about their companies welfare and could bring crypto adoption to different institutions and large businesses.

That reminds me a lot when their CEO if i'm not mistaken saying cryptocurrency is a fault although there are no news about JP Morgan developing cryptos but a blockchain system when JPMorgan's name mentioned in any news relating to blockchain that thing just always cross my mind.
I'm pretty sure that company like JPMorgan just after the profit and not really trying to bring crypto adoption, people are just expecting too much from such company. It's always like that since ancient time and this token launching on their blockchain I guess is purely for profit.

[Kyraishi]

JP Morgan's standing in crypto has always confused me for the most part, and they went from disliking the currency and not really supporting it, to diving right into the belly of the beast.

They do seem on the fence here, not really fans of crypto-currencies, but they want to profit off the big companies that want banking services in the scene, it's a weird place.

For companies like them, they will always just chase the profit and do things that will make them the most money. Like this

[Arbitr13]

EMR tokens can be spent in the Dubai Mall, book an EMAAR hotel, buy any real estate that EMAAR sells, cars, rent, etc., and, of course, exchange for cash.
There has never been such a cryptocurrency, if the project is successful, it will be a cryptocurrency revolution for Dubai.
Therefore, banks want to profit from giant corporations and billions of dollars in turnover.

[Arbitr13]

This all suggests that banks have no where to go from digital money and will have to accept them. I’m sure when the giants use their cryptocurrency, then Bitcoin will jump to heaven.

[tabas]

EMR tokens can be spent in the Dubai Mall, book an EMAAR hotel, buy any real estate that EMAAR sells, cars, rent, etc., and, of course, exchange for cash.
There has never been such a cryptocurrency, if the project is successful, it will be a cryptocurrency revolution for Dubai.
Therefore, banks want to profit from giant corporations and billions of dollars in turnover.

It's just starting out and how could you define that as a successful token? yes those can be made with that token and it's very rare to see such token that is used to buy all of those stuffs. But they are in the beginning phase and don't assume too much.
It all covers the properties that Emaar has but it doesn't cover the huge coverage of cryptocurrencies same as bitcoin which can be huge worldwide and that's what we call successful.

[Patrix_1]

Greeat to hear that even such countries are joining the blockchain mass adoption. Especially very rich guys that can influence the whole industry simply by joining any project. I really hope that it would push the whole industry forward.