A leading player in the blockchain real estate space is joining forces with an Abu Dhabi based enterprise to introduce real estate tokenization in the property sector of Abu Dhabi. Meanwhile, XRP has increased in value by 43%.
HashCash’s real estate tokenization platform offers several advantages including the streamlining of processes involved in property management. The blockchain-based infrastructure of the organization could make property investment easy for locals and overseas investors.
XRP displaced Litecoin to become the fourth most valuable cryptoasset. This was made possible in-spite of a significant reduction in trading of XRP by exchanges following news of charges made against Ripple for violation of regulations under their purview.
The lawsuit led to a significant number of delistings by exchanges as well as panic selling which caused the price of XRP to reduce to $0.20 in December. Ripple was to be charged for raising $1.3 billion over seven years from retail investors through ts sales of XRP.
XRP is now worth over $15, 227, 144, 531 with a daily trading volume of over $14 billion. Some analysts believe that XRP could benefit from the recent decision by the U.S. Office of the Comptroller of the Currency’s (OCC) recent decision to allow U.S. banks to use public blockchains and dollar-basked stablecoins as settlement infrastructure in the financial sector.
The success of XRP may be largely dependant on the network of heavy-weight partners that Ripple Labs has. The organisation works with some of the world’s largest financial institutions.
The words of Jacob Harry in his book, ‘Bank Loans and Stock Exchange Speculation‘ ring loud at this pivotal moment in history:
“The capital requirements of industrial enterprise can only be ultimately satisfied by the response of the investing public. That is to say, those who have accumulated capital by saving or transfer become creditors of or participants in such enterprise.”