Seeds of Wisdom RV and Economic Updates Thursday Morning 3-20-25
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DUBAI LAND DEPARTMENT BEGINS REAL ESTATE TOKENIZATION PROJECT
The Dubai government has started the pilot phase of a project that will convert real estate assets into digital tokens on the blockchain.
The Dubai Land Department (DLD), a government entity responsible for registering, organizing and promoting Dubai real estate, announced that it started the pilot phase of its real-estate tokenization project.
The project was launched in collaboration with the Dubai Future Foundation (DFF) and the Virtual Assets Regulatory Authority (VARA), Dubai’s crypto regulator.
The token launch makes the DLD the first real-estate registration entity in the UAE to implement tokenization on property title deeds.
DLD expects the sector to grow $60 billion by 2033
In the announcement, the DLD said the initiative is expected to drive growth in real estate tokenization. The government agency predicts that its market value could reach over $16 billion by 2033. According to the agency, this represents 7% of Dubai’s total real estate transactions.
DLD Director-General Marwan Ahmed Bin Ghalita said in the announcement that real estate tokenization drives a fundamental change in the sector.
“By converting real estate assets into digital tokens recorded on blockchain technology, tokenization simplifies and enhances buying, selling, and investment processes,” he said.
The official said this aligns with the DLD’s vision to become a global leader in real estate investment and use technology to develop innovative real estate products.
Tokenization to open up Dubai real estate to global investors
Tokinvest co-founder and CEO Scott Thiel said the initiative is a “transformative moment” for the sector. Thiel told Cointelegraph:
“The initiative not only reinforces Dubai’s leadership in blockchain adoption but also paves the way for a more inclusive, liquid, and efficient real estate market.”
The executive working in a VARA-regulated RWA platform told Cointelegraph that DLD’s new project would open Dubai’s real estate market to a global pool of investors.
“Tokenisation is no longer a concept. It’s a reality that will open up Dubai’s real estate market to a global pool of investors like never before,” Thiel told Cointelegraph.
In a previous interview, Thiel told Cointelegraph that the UAE’s proactive regulations paved the way for the country’s real-world asset (RWA) tokenization boom. The executive said there was a genuine desire from government agencies to develop clear guidelines for the sector.
@ Newshounds News™
Source: CoinTelegraph
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BRICS: ANALYST REVEALS IF THE US DOLLAR CAN MAINTAIN ITS DOMINANCE
The BRICS alliance is looking to uproot the US dollar from the world’s reserve currency position. The bloc wants to put local currencies in the top slot and reduce dependency on the greenback. The power struggle has ignited fresh debates about the use of the USD among developing nations. Eastern nations want to tilt power from the West and usher into a new financial era.
The move will shake the foundation of the US dollar and weaken its dominant position in the currency markets. Local currencies are getting stronger in 2025 as the USD is down against all leading currencies this year as the DXY index fell to the 103.2 mark.
BRICS: The US Dollar Will Maintain Its Dominance
Ashishkumar Chauhan, the Managing Director of the National Stock Exchange (NSE) spoke about the US dollar’s prospects. He spoke at a Singapore panel on capitalism and technology highlighting the importance of geopolitics and the global stock markets. He also touched on the subject of de-dollarization where BRICS aims to replace the US dollar with local currencies.
Chauhan stressed that BRICS cannot shake the foundation of the US dollar and it will remain the dominant currency. “After World War II, the US meticulously positioned itself to replace the British pound as the global reserve currency. Today, no other country is ready to take on that role,” he argued.
He explained that leading currencies like the euro and the pound are not strong enough to stand the whiplash of the markets. The Chinese yuan and the Japanese yen also fold under pressure and cannot challenge the USD. Therefore, no matter how hard BRICS tries its hand in de-dollarization, the US dollar will remain the dominant currency.
@ Newshounds News™
Source: Watcher Guru
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