Dubai Real Estate Investors can then buy and sell property with digital currency such as Bitcoin, who follows a new collaboration with Dubai Land Department (DLD) and Crypto.com
DLD, in collaboration with Crypto.com, develops a digital investment atmosphere for real estate properties and exploring blockchain and digital currency technologies within the sector.
Agreement followed the Government of Dubai in plans to use government fees using digital currencies, representing public services to public development services.
Omar Hamad Bushab, Director General in Dubai Land Department, and Mohamed Abdul Latif Al Hakim, is allowed to be published, signed the deals with many officials and CEOs in two organizations, the Dubai Media Office said to a statement.
Dubai partners with crypto.com to create digital currency currency transactions
The initiative of the Dubai Real Estate strategy 2033, seeking to build an intelligent, lasting, and operated the ecosystem of the property.
Through acceptance technologies, Dubai has strengthened beauty for investing and facilitating progress toward AED1 trillion trillions of trillion to AED1 targets at 2033.
Collaboration aims to develop digital-supporting mechanisms transided technologies and virtual properties of digital transactions in digital transactions in digital transactions in digital transactions. The initiative intends to improve market liquidity and align with smart investment trends.
The association is trying to build an integrated digital ecosystem that allows real estate trading, investment processing and settlement in a safe framework.
The collaboration aims to share the market in the land of Dubai land as a destination for investment aspirations in the internations and continue to develop real estate groundscape in the emirate.
Co-operation shows the Department of alignment of the vision of leadership to make Dubai the best city in the world to survive, heal.
It supports Dubai Economy’s Dubai economy purposes, which focuses on providing an investment environment that strengthens Dubai economy through prolonged growth.
Virtual real estate assets and frameswork in tokenisation
Under Collaboration, Dubai Land Department Explores the potential use of platforms and technology solutions suggested by crypto.com in areas such as retaining real estate properties.
The Department will provide administrative and logistical support to facilitate implementation of joint projects and evaluate suggestions based on regulatory frameworks.
DDD has begun to ensure the existence of all legal and legislative requirements to guarantee following Dubai regulations.
Crypto.com will propose technological solutions to facilitate the use of digital currency sector and report supporting projects that make decisions.
Up to agree with any proposed projects, the company will provide all required technical and legal documentation and obtain the necessary permissions from the relevant authorities of emirate regulations.
The signing of the memorandum marks a milestone in the efforts of the Dubai Land Department of arousing the change in the area of digital solutions to cities adopting digital real estate solutions.
