Urgent ‼️ The Dubai government has issued digital assets directly on the #XRP Ledger
In a significant step towards innovation in the public sector supported by blockchain technology, the Dubai government has issued digital assets directly on the XRP Ledger (XRPL) for the first time, representing a pivotal advancement in the field of real estate tokenization. This groundbreaking development was revealed by XRPL Commons through their official X accounts, leading to the increasing role of XRPL technology in supporting local use cases in the real world. This initiative, facilitated by a licensed fast issuer in Dubai, has enabled the transformation of government assets, specifically concerning real estate, into their tokens on-chain using the fundamental, secure, and cost-effective data of XRPL. Strict legal procedures and shareholder rights verification have not been approved, and operating costs have also been reviewed, with transaction fees discounted by 50%. This represents one of the first examples of a government entity adopting XRPL technology to issue assets on a large scale in the real world, resulting in Dubai's leadership in the global blockchain technology innovation movement.