Controversial Plan for Gaza Land Tokenization Emerges
The Financial Times reported on Monday that the Tony Blair Institute has been involved in a contentious proposal to sell land in Gaza through blockchain tokens, which includes compensating Palestinians to relocate from their properties. This initiative envisions the reconstruction of the area featuring artificial islands reminiscent of Dubai and “blockchain-trade initiatives,” including themed sections inspired by public figures like Elon Musk and Donald Trump. The proposal has sparked significant outrage among Palestinian activists, with one activist describing it as “not just grotesque” but fundamentally “evil.”
Development of the “Great Trust” Slide Deck
According to the Financial Times, a presentation known as the “Great Trust” was created by the Boston Consulting Group (BCG), with contributions from two staff members of the Tony Blair Institute, an organization established by the former UK Prime Minister. This slide deck was reportedly shared with the Trump administration, which expressed similar views as early as February. The proposal suggests that half a million Palestinians be financially incentivized to leave Gaza in order to attract private investment for redevelopment, especially following the destruction caused by Israeli airstrikes.
Tokenization and Ownership of Land
The plan calls for public land in Gaza to be placed into a trust and sold through “digital tokens traded on a blockchain.” Palestinians would have the opportunity to contribute their private land to this trust in exchange for a token that guarantees them a housing unit. Chris Yin, co-founder and CEO of Plume Network, explained that this method is commonly used for real-world assets, wherein the land title is held by a specialized trust that tokenizes ownership shares on a blockchain.
Global Investment Opportunity or Exploitation?
Sam Mudie, co-founder and CEO of Savea, indicated that this tokenization approach could turn Gaza’s land into a global investment opportunity, with tokens possibly being traded on centralized exchanges. However, despite the innovative nature of this asset tokenization—growing in popularity across various projects—the proposal has been met with harsh criticism from Palestinian advocates, who view it as a disturbing exploitation during a time of conflict.
Concerns Raised by Palestinian Advocates
In response to the plan, Paul Biggar, founder of Tech for Palestine, expressed outrage, questioning the morality of a proposal that appears to seize Palestinian land and offer it back to its original inhabitants for profit. A source cited by the Financial Times indicated that there is an expectation that 25% of the Palestinian population would be incentivized to leave, with BCG’s financial analysis claiming that relocating individuals outside of Gaza would be more economical than providing them assistance during the reconstruction phase.
The Reality of Palestinian Desires
Dr. Ashok Kumar, an associate professor of political economy at Birkbeck Business School, emphasized that the fundamental desire of Palestinians is to remain in their homes. He argued that Israel’s ongoing siege aims to create unbearable living conditions, forcing survivors into a position where they feel they must choose exile.
Responses from the Tony Blair Institute and BCG
Both the Tony Blair Institute and BCG have distanced themselves from the controversial plan, with the former claiming limited involvement, while BCG mentioned its leadership was misinformed about the project’s scope. Neither organization has responded to requests for further comment regarding the developments.
A Vision for the Future of Gaza
The slide deck also outlines ambitious plans for creating “world-class resorts” branded as the “Gaza Trump Riviera & Islands,” along with an industrial zone titled “The Elon Musk ‘Smart Manufacturing’ Zone.” In earlier discussions, President Trump proposed that Gaza could be redeveloped under U.S. oversight to become the “Riviera of the Middle East,” mirroring themes presented in the leaked slide deck.
Blockchain Innovations and Local Concerns
The proposal envisions a man-made coastline akin to Dubai, along with “blockchain-based trade initiatives.” Mudie suggested this could lead to the development of a stablecoin for Gaza, or utilizing blockchain technology to streamline trade processes and minimize bureaucracy. Yin hinted at the potential creation of a crypto-friendly environment in Gaza to boost blockchain activities.
Criticism from Palestinian Supporters
Yet, many Palestinian supporters reject this narrative. Dr. Kumar criticized the involvement of figures like Tony Blair, accusing them of exploiting the suffering of the Palestinian people for profit. He described the endeavor as not only grotesque but fundamentally evil. Loopify, a pseudonymous game developer and founder of CryptoGaza, echoed these sentiments, emphasizing that the lives and homes of Palestinians are being undervalued in the pursuit of profit.
Feasibility Concerns Regarding the Proposal
Experts have also raised concerns about the practicality of the proposal, suggesting that the goals outlined in the deck are overly ambitious—even for simpler scenarios—let alone in a region as complex and fraught as Gaza. Mudie remarked that the gap between the ambitious goals of the project and what is technically and legally achievable is significant, predicting that commercial-scale real estate tokenization could still be two to three years away, even for straightforward cases, much less for a politically contested area like Gaza.
