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Ripple and Ctrl Alt Tokenize Real Estate in Dubai Using XRPL
In a landmark move, Ripple has partnered with Ctrl Alt to tokenize real estate assets in Dubai, marking the first time blockchain technology is integrated into government property registration systems in the Middle East.
Through this innovative initiative, people in Dubai will be able to buy small shares of homes by using token ownership through XRPL. This game-changing collaboration allows property ownership in Dubai to be recorded securely and transparently using Ripple’s institutional-grade custody infrastructure.
The XRP Ledger was chosen for its speed, scalability, and compliance-ready architecture, making it an ideal choice for this project. The Real Estate Evolution Space pilot aims to digitize AED 60 billion (USD 16 billion) in real estate assets by 2033.
This groundbreaking development has the potential to revolutionize the global real estate investment environment, offering unprecedented transparency, efficiency, and accessibility.
Source: cryptotale.org
