They should just buy up a few billion Turtle, Raven or Grin, and claim it as their coin of choice. It would quadruple over night, and they would already be in control of the majority of the coins. Why is this so hard for companies to understand?
Look people, just because you have money, doesn't mean you know how to build a software product. This is why 95% of Y Combinator startups still fail even with the smartest, most experienced, most motivated founders. Y Combinator produced AirBnb, Dropbox, Stripe, and many unicorn Silicon Valley companies.
Building a software product that people actually want to use and find it useful is damn hard.
Emaar Properties is one of the largest Real Estate Developers in the UAE with a market cap of USD 9.7Billion at their prime, employing 6,600 people with an annual revenue of USD 5.6B. What kind of money grab do you see here? For god's sake people at least do some research, this is not a start-up, this is an existing, established eco-system that is used by millions of people.
If there's any place in the world that can be digitally transformed then it is Dubai. As they wrote: The token will be transferable across the entire global Emaar ecosystem, including real estate, malls, hospitality, entertainment, facilities management and online shopping.
Buildings they own:
>It is the second-largest mall in the world by total land area, and the 20th-largest shopping mall in the world by gross leasable area, tying with West Edmonton Mall and Fashion Island (Thailand) — both which are older than it. Located in Dubai, United Arab Emirates, it is part of the 20-billion-dollar Downtown complex (called Downtown Dubai), and includes over 1,200 shops. In 2011, it was the most visited building on the planet, attracting over 54 million visitors each year. Access to the mall is provided via Doha Street, rebuilt as a double-decker road in April 2009.
>Dubai Opera is a 2,000-seat, multi-format, performing arts centre, which is located within The Opera District in Downtown Dubai. It was developed by Emaar Properties to host a variety of performances and events including theatre, opera, ballet, concerts, conferences and exhibitions. Its plans were announced by Sheikh Mohammed bin Rashid Al Maktoum in March 2012 and it was completed in 2016. It opened on 31 August 2016 with a performance by Plácido Domingo. Dubai Opera have flat floor capacity of 1800 square meters.This floor can be hired for wedding, gala dinner, fashion shows and exhibition.
The Dubai Fountain
> The Dubai Fountain is the world's largest choreographed fountain system. It is set on the 30-acre manmade Burj Khalifa Lake, at the center of the Downtown Dubai development in Dubai, United Arab Emirates. It was designed by WET Design, the California-based company responsible for the fountains at the Bellagio Hotel Lake in Las Vegas. Illuminated by 6,600 lights and 50 colored projectors, it is 275 m (902 ft) long and shoots water up to 500 ft (152.4 m) into the air accompanied by a range of classical to contemporary Arabic and world music. It was built at a cost of AED 800 million (USD $218 million).
>The name of the fountain was chosen after a contest organized by the developer Emaar Properties, the result of which was announced on 26 October 2008. Testing of the fountain began in February 2009, and the fountain was officially inaugurated on 8 May 2009 along with the official opening ceremony of The Dubai Mall.
>The Burj Khalifa (Arabic: برج خليفة, Arabic for "Khalifa Tower"; pronounced English: /ˈbɜːrdʒ kəˈliːfə/), known as the Burj Dubai prior to its inauguration in 2010, is a skyscraper in Dubai, United Arab Emirates. With a total height of 829.8 m (2,722 ft) and a roof height (excluding antenna) of 828 m (2,717 ft), the Burj Khalifa has been the tallest structure and building in the world since its topping out in 2009.
>he massive building was visited by a record number of visitors last year – 1.87 million. This means that in 2013 an average of 156,000 people visited Burj Klalifa every month. That is about 13% more compared to 2012, when the tower welcomed 1.66 million tourists.
JohnCryptoRambohiding under the water, breathing through a reed, 3 months ago
How is any of that supposed to not make us think it is a money grab? If anything, it reinforces the idea.
Maybe because Emaar just issued a USD 270 Million dividend payment? Maybe because their net operating profit was USD 1.7B in 2017. Mabye because as a listed company they can simply issue corporate debt? Or go to the countless sheikhs that have too much money to invest? Maybe Maybe because the regional area is famous for showering estate companies with lavish budgets to build ridiculously expensive projects? The last problem real estate companies like Emaar Properties have is cash. However, when you deal with 54MM visitors each year in the 2nd biggest shopping mall of the world, with 1200 shops inside, DLT that drives a utility token can maybe introduce efficiencies.
ClockDoc6 - 7 years account age. 175 - 350 comment karma.3 months ago
Wouldn't they have a higher chance at crippling their own economy if they influenced their locals to make use of a crypto instead of dirhams ?