The Financial Times reported on November 17 that the Trump family's business group will cooperate with Saudi Arabia to build a luxury hotel project in the Maldives and use blockchain technology for financing. On November 18, the Trump Organization and Saudi developer Dar Global announced that they will build a luxury hotel with 80 villas on an island near the capital of the Maldives, Male, and use blockchain technology for financing. According to reports, the assets of this investment project will be divided into virtual currency through blockchain technology, allowing online market trading to attract external investment. Eric Trump, Executive Vice President of the Trump Organization, stated that this financing model will set a new standard for innovation in real estate investment. This will also be the first time a luxury resort project uses a virtual token model for financing. According to reports, the Trump family group is enthusiastic about the virtual currency field based on blockchain technology, has issued various virtual currencies, and participated in stablecoin issuance. The family earned as much as $1 billion from virtual currencies in the past year. The announcement of the project coincided with the visit of Crown Prince Salman of Saudi Arabia to the United States. This visit will be Salman's first to the U.S. in seven years, and it is expected that he will exchange views with Trump on defense, nuclear cooperation, and Saudi investment issues. It is reported that the Saudi side is seeking to use its friendly relationship with Trump to advance arms, artificial intelligence transactions, and defense agreements. In terms of real estate development, Dar Global is the international subsidiary of Dar al Arkan Real Estate Group, a major Saudi developer, and the Trump family has already cooperated with them on multiple projects in the Middle East.
Original: www.toutiao.com/article/1849142845964299/
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