Gaza’s Post-War Reconstruction Plan Sparks Debate Over Blockchain Land Tokenization
In the wake of ongoing conflict, a controversial U.S.-backed proposal to rebuild Gaza is drawing global attention for its radical use of blockchain technology. The Gaza Reconstitution, Economic Acceleration and Transformation Trust (GREAT Trust), reportedly developed by the Gaza Humanitarian Foundation (GHF) and favored by the Trump administration, aims to tokenize land rights and digital assets in the region as a means to fund reconstruction and attract international investment.
The GREAT Trust Proposal
Under the plan, Gazan landowners would be asked to surrender their property deeds to a U.S.-backed trust in exchange for digital tokens. These tokens would represent future redevelopment rights and could be redeemed for cash or housing units in planned “smart cities.” Displaced families would receive $5,000 in cash, four years of rent subsidies, and one year of food support as part of the relocation package.
The initiative envisions transforming Gaza into a luxury tourism destination and technology hub, with AI-powered smart cities and large-scale infrastructure projects. Proponents argue that blockchain technology could bring transparency and efficiency to land ownership records, reducing corruption and streamlining reconstruction efforts in a region where traditional governance structures have collapsed.
Criticism and Concerns
Despite its ambitious goals, the plan has sparked fierce backlash from civil rights groups, Palestinian advocacy organizations, and legal experts. The Council on American-Islamic Relations (CAIR) has condemned the proposal as “the takeover of Gaza and the mass theft of Palestinian land through a digital token scheme,” calling it “morally abhorrent and illegal under international law.” Critics argue that the tokenization process risks eroding Palestinian sovereignty, commodifying culturally significant property, and creating speculative bubbles in an already volatile region.
Legal scholars warn that the lack of a structured regulatory framework in Gaza increases the risk of volatility and exploitation. The $5,000 cash offer, while substantial, may undervalue land in a region where property is deeply tied to cultural and historical identity, potentially leading to disputes and resistance among residents.
Technological Challenges
Blockchain’s promise of decentralization, security, and transparency is touted as a solution to post-conflict land disputes and corruption. Immutable records of ownership could streamline transactions and reduce bureaucratic delays. However, scalability remains a significant challenge. Gaza’s infrastructure, already devastated by war, may struggle to support AI-powered smart cities without substantial upfront investment.
Moreover, the region’s reliance on unregulated digital currencies for survival, due to the collapse of formal banking infrastructure, raises concerns about the practicality and security of implementing a large-scale blockchain system. Cultural resistance to digitizing land ownership could further complicate the rollout of the plan.
Broader Implications
The Gaza reconstruction plan is part of a broader trend of real-world asset (RWA) tokenization, which has seen rapid growth in recent years. On-chain RWA value recently hit about $17.1 billion, up 94% year-over-year. However, the application of blockchain technology in high-stakes reconstruction efforts like Gaza’s highlights the need for careful consideration of financial, geopolitical, and technological viability.
As the debate continues, the success of the GREAT Trust proposal will depend on token adoption, market confidence, and the ability to navigate complex legal and cultural landscapes. The plan’s implementation could set a precedent for the use of blockchain in post-conflict reconstruction, but it also underscores the risks of commodifying land and eroding local sovereignty in the name of innovation.
For now, the future of Gaza’s reconstruction remains uncertain, with the world watching closely as blockchain technology takes center stage in one of the most challenging and sensitive regions on the planet.