DMCC Launches Pilot to Tokenize World’s Largest Silver Bar
The Dubai Multi Commodities Centre (official UAE commodities regulator) begins a blockchain-based project bringing a real silver asset on-chain, unveiled during the Bitcoin MENA Conference.
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Summary
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Terms & Concepts
Tokenization: The process of converting a real-world asset into a digital token recorded on a blockchain.
On-chain: Transactions or assets that are executed and recorded directly on a blockchain network.
DMCC (Dubai Multi Commodities Centre): A UAE government authority overseeing commodities trading and blockchain initiatives in Dubai.