Dubai Launches First Government-Led Real Estate Tokenization Project: A Landmark Development

Dubai has made history by launching the Middle East’s first government-backed real estate tokenization project, a move that signifies a significant leap in blockchain integration within public sector asset management. This initiative is spearheaded by the Dubai Land Department in collaboration with Ctrl Alt and Ripple. The project utilizes XRP Ledger as the chosen blockchain for on-chain tokenization of property title deeds, aiming to enhance transparency and liquidity in the real estate market.