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Dubai Future Finance Week day four: a tokenisation rulebook, a court on chain and the liquidity question

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Dubai Future Finance Week day four: a tokenisation rulebook, a court on chain and the liquidity question

On Thursday, Dubai Future Finance Week turned to two longer-term questions: how family wealth passes between generations, and how tokenised assets can move from pilots into real markets. The Future Tokenisation Forum at Jumeirah Mina Al Salam took the second question, and it was the busiest regulatory day of the week.

Mark Steward, chief executive of the DFSA, opened the forum with the regulator’s new report, Scaling Tokenisation: The Road Ahead. It draws on input from BlackRock, Ripple, Robinhood, Soter Insure and Standard Chartered, and looks at what tokenisation needs as it moves from experiments into live financial products, payments and market infrastructure. The paper deliberately stops short of picking a winner. It sets out where the industry agrees and where it does not, and does not prescribe a particular technology, rulebook or business model. The DFSA wants it to start a wider conversation with firms, investors, policymakers and international standard setters.

DIFC Courts brought a more concrete proposal. Working with DECA4 Advisory and industry partners, the courts published a white paper on a Dispute Resolution Oracle, an opt-in link between a smart contract and a court or other forum the parties choose before they transact. The gap it targets is simple to state: a court can decide who owns a digital asset, but it cannot make that decision take effect on chain. Under the proposal, a disputed asset would be preserved once a claim is raised and the final decision enforced directly on chain.



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