Lucid Pay, a smart settlement platform, has integrated blockchain technology into the systems of the Atlantis, The Palm, claiming to make it the first for hotels worldwide.
The smart platform enables guests to pay for their activities and amenities in an efficient, secure and effortless manner. The platform also uses smart contracts that allow the hotel to pre-define guests’ terms and refund conditions,.
Liquid D founder Jawad Riachi said in a statement: "We’re proud to be able to integrate our blockchain-based smart settlement platform Lucid Pay into a world-class brand such as Atlantis, The Palm, Dubai. I’d like to thank the resorts’ IT team, finance, marketing and operation, who supported the initiative and worked hard to make the project a reality. We have focused on ensuring the product is easy to use, with a convenient learning process."
The cashless-based solution eliminates disputes and fraud, while providing automated loyalty programmes and speedy executions, which hotels can take advantage of.
Atlantis The Palm Dubai director of finance Helen Woodard added: "From an operator perspective, time is money and innovation as well as efficiency are key. Hence, the implementation of the cashless payment system increases the convenience for us as cash is no longer physically handled, audit time is spent more effectively, and greater security is guaranteed."
The new venture is timely with the announcement of the Emirates Blockchain Strategy 2021, where at least half of the country’s federal transactions would be powered by blockchain technology by 2021.