UAE based MintLayer, a layer 2 blockchain that utilizes Dynamic Slot Allocation (DSA) consensus merging Proof-Of-Stake and Bitcoin technologies to make decentralized financial markets attack-proof, will be launching its mainnet on January 29th 2024 and is planning tokenize real-estate assets starting from Dubai UAE.
Already MintLayer has received investments from a substantial number of venture capitalists including some residing in the UAE such as Phoenix crypto VC, Sheesha Finance, Varys Capital and others.
Zaid Ismail Chief Operations officer at MintLayer, based out of Dubai UAE, on LinkedIn states,“ 90% of the world’s millionaires made their fortunes through real estate, but it’s highly inaccessible, illiquid, and complicated – that’s where MintLayer comes in! Starting with Dubai, we are on a mission to fractionalize real estate ownership one country at a time.”
In an interview on Bitcoin News, he discussed how tokenized real-world assets are an appealing portfolio for modern investors.
He told Bitcoin News that despite recently garnering much of the world’s attention, traditional exchange-traded funds (ETFs), including spot Bitcoin ETFs, are still inferior to tokenized real-world assets (RWA).
He added,” Tokenized RWAs also come with increased transparency, reduced costs, and direct ownership making them a more versatile and appealing choice for modern investors seeking portfolio diversification.”
He notes in the interview that traditional finance institutions are also starting to get involved in tokenized RWAs. They are testing the waters and will need to work with regulators to adapt existing regulations to the changing landscape.
Ismail emphasizes that with MintLayer the process is simplified, reducing hassles for asset owners. With MintLayer, tokenization is embedded and simple, so non-technical users can issue tokens easily without having to use deployment contracts like on Ethereum.
Additionally, Mintlayer Institutional is building a SaaS platform for institutional clients that will help to simplify the process of issuing, monitoring and dealing with all the compliance aspects required for tokenization.
The MintLayer network, and its UTXO infrastructure, allows batching multiple transactions into a single one, saving space and lowering the fees. Furthermore, their HTLC smart contract embedded in MintLayer will allow atomic swaps and lightning network integration, allowing a way to route transactions on a peer-to-peer network that doesn’t require it to be permanently saved forever on the blockchain.
Mintlayer has a low node requirements are pivotal in fostering a more inclusive and decentralized network allowing anyone with a standard PC, or even a Raspberry Pi, can run a node is a testament to the democratization of blockchain technology.