Italian green energy company Enel Group has partnered with crypto wallet provider Conio to offer fractional ownership of solar panels through tokenization on the Algorand blockchain.

On January 21, Marc Vanlerberghe, the chief marketing officer of the Algorand Foundation, announced a partnership between Conio and Enel Group to launch a solar panel tokenization product in Italy.

The tokenized product will allow Italians to own a portion of Enel‘s solar farms and use the generated power to offset electricity usage in residential properties.

Related tweet:

Warden explained the real-world use case of the product:

“You can live in a high-rise and offset with partial ownership of a solar panel in a field someplace else. So cool! There is just no end to the power of tokenized markets.”

Tokenization of Emirati Assets

Amid the ongoing blockchain revolution, United Arab Emirates-based property development group Damac Group has signed a $1 billion agreement with Mantra, a blockchain built for tokenized RWAs (real-world assets), to enable token-based finance.

The partnership will allow Damac to leverage Mantra’s RWA-focused blockchain technology to tokenize its diverse portfolio, which includes real estate, hotels, resorts, manufacturing, capital markets, and fashion. The multibillion-dollar investment conglomerate’s partnership with Mantra will further the blockchain’s goal to become “the preferred ledger of record” for RWAs.

According to a CNBC report, US President Donald Trump recently announced that Emirati billionaire Hussain Sajwani, founder of Damac, has pledged at least $20 billion in foreign investment to build new data centers across the United States.

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