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…