Dubai has initiated a pioneering real estate tokenization program, selecting Ripple’s XRP Ledger as the underlying blockchain technology. This initiative, involving over 3,000 registered investors, allows for the tokenization of ownership deeds for government-owned properties. The program is currently limited to UAE residents holding Emirates ID cards. The Dubai Land Department has partnered with Prypco Mint and Ctrl Alt to facilitate this transformation, marking a significant step in integrating blockchain technology into the real estate sector.