Technology, Travel & Hospitality, UAE

Blockchain makes headway in Dubai’s hospitality industry

Lucid Pay, a smart settlement platform, has recently integrated blockchain technology into the systems of the iconic five-star resort Atlantis, The Palm, making 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, enabling stress-free and frictionless transactions.

“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,” said Liquid D founder Jawad Riachi.

“We have focused on ensuring the product is easy to use, with a convenient learning process. The users immediately feel at home when they use our solution,” added Riachi.

The cashless-based solution eliminates disputes and fraud, while providing automated loyalty programs and speedy executions, which hotels can take advantage of.

As a platform, Lucid Pay’s goal is to interconnect the hospitality industry and break physical boundaries, by providing guests with the opportunity to experience the city while charging back to the host and settling their bill at checkout.

Anthony Lynsdale, Vice President, Information Technology, Atlantis The Palm, Dubai, said, “We chose Lucid Pay as our partner to deliver a seamless integrated point of sale solution using a Blockchain platform. This marks a significant achievement in the hospitality industry and we are proud to be one of the first.”

The new venture is timely with the recent 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. As the region increasingly continues to move towards adopting blockchain technology in the digital era, it is also said to help the government prepare for future challenges.

“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,” added Helen Woodard, Director of Finance, Atlantis The Palm, Dubai.

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