Massive Dubai Resort Rolls out Blockchain-based Staff Solution

John Moore

The large Dubai Caesars Bluewaters hotel has turned to the Lucid Pay digital wallet for a blockchain-driven solution to managing its staff discounts and allowances provision. Created by Liquid-D, the Lucid Pay system will be used to afford staff with a digital payment option when using their perks and allowances around the hotel’s facilities.  

The massive Caesar’s palace Bluewater 'island' development in the city will use the smart contracts and wallets to automatically credit and debit the discounts and allowances to its staff according to contractual conditions of employment, as well as manage their useage. In order to do this, the system will integrate into existing Hotel POS systems from Oracle and Opera. The wallets will be available via staff’s Android and iOS mobile devices.   

Jejin Joseph, the Caesars Bluewater head of IT Infrastructure, was quoted in reports as saying that this ease of integration made Lucid Pay “the right choice”, and that the system “is very easy to setup and use and requires minimal training for the existing staff.”

“Being a Blockchain-based solution,” he added, “we are provided with a transparent, tamper free, immutable ledger for our employees' allowance and discount program.” 

Not the First

Interestingly, Caesars Bluewaters is not the first to turn to Lucid Pay and blockchain technology for such a facility, which presumably aims to cut down on fraud and misuse of staff incentives as well as streamline the back-end processes for increased efficieny. The Dubai-based Atlantis resort has also recently announced it is using it, only in its case that will be a customer-facing facility for guest payments.

Jawad Riachi, of the Dubai-based Liquid-D says its is happy clients are beginning to “value the platform and realize its potential in terms of functionality, speed, effectiveness and ROI.” 

In a view that has been echoed by many blockchain advocates over the last year, he appears to believe that the blockchain technology Lucid Pay uses needs to be as inconspicuous as possible, and that his company must focus on making a product that is easy to use and implement, offering a “convenient learning curve and minimal intrusion.” 

It echoes the views of EOS creator and company founder Daniel Larimer, who in a recent interview  a London’s Blockchain Live event, told me that “Blockchain will be heavily adopted when people no longer talk about blockchain,” but that “to get from where we are today to there [is] a matter of getting the existing businesses and existing proven business models to upgrade their software to use blockchain give users greater security.”

OKEx Announces OKChain Hackathon to Boost Development of Decentralized Applications

Popular bitcoin exchange OKEx has announced the launch of an OKChain Hackathon in a bid to promote the creation of decentralization applications in the blockchain network’s community.

According to a post published on OKEx’s website, OKChain’s code has already been uploaded to GitHub in April, making it open-source while the first exchange to launch a public blockchain hasn’t done so yet, the post adds.

Participation in the OKChain Hackathon is open until July 20 of this year, and the event’s winners could receive up to $5,000 in OKB as a reward. The hackathon will see developers from across the world develop products and services on OKChain, including Software Development Kits (SKDs), market computing plugins, delegator service products, and staking service products.

The announcement details OKChain launched its 0.1 version in May, disclosing validator selection and its dividend mechanism at the time, and becoming the first blockchain developed by a cryptocurrency exchange supporting the access of third-party institutions.

Commenting on OKChain’s development, OKEx CEO Jay Hao said:

Adhering to the original spirit of blockchain, OKChain won’t become an extension of the exchange, but an independent ecology. We are looking forward to co-constructing an open, decentralized, practical, and diverse ecosystem with our global users.

Hao added that users can now use the blockchain’s voting mechanism, develop their own decentralized exchange or decentralized applications, and more using OKChain’s testnet. OKChain’s mainnet, according to the announcement, is expected to soon launch.

Ahead of the launch OKEx gave OKChain network participants more autonomy and changed the source code so that no entity, including OKEx, is able to control or manipulate the blockchain. Users running decentralized applications can, per the post, add and remove trading pairs without any type of permission from the exchange or any other entity.

Holders of OKChain’s native OKT token can stake their token to become a so-called “Ordinary voter,” allowing them to vote for validators on the network, or delegate their voting power to another account. A total of 21 validators are set to be elected.

OKChain’s OKT is an inflationary token as according to OKEx, a deflationary model – the one used on other blockchains developed by exchanges – “exacerbates the conflict of interest between users and hodlers.” This, as hodlers want the token’s price to increase, which could also lead to a rise in fee, which in turn see users move to other cheaper platforms.

Node operators on the blockchain, OKEx concludes, stand to receive various benefits, including rewards from block generation, voting rewards, and more without having to pay for servers and technology.

Featured image via Pixabay.