The project, called Prosperity With A Purpose, aims to link investors with real-world olive trees through blockchain tokens that represent ownership in a tangible, productive asset. AFP
The project, called Prosperity With A Purpose, aims to link investors with real-world olive trees through blockchain tokens that represent ownership in a tangible, productive asset. AFP
The project, called Prosperity With A Purpose, aims to link investors with real-world olive trees through blockchain tokens that represent ownership in a tangible, productive asset. AFP
The project, called Prosperity With A Purpose, aims to link investors with real-world olive trees through blockchain tokens that represent ownership in a tangible, productive asset. AFP

Tokenizing the tree of life: Olive blockchain project sprouts in Dubai


Rachel Kelly
  • English
  • Arabic

A bold vision to connect ancient agriculture with cutting-edge blockchain technology has been unveiled in the Middle East.

At an invite only event held at the Burj Khalifa in Dubai, the Global Olive Corporation (GOC) revealed its plan to tokenize 100 million olive trees worldwide, starting with a million already planted across Georgia.

"This is the first time in the world we are tokenizing the olive industry," George Svanidze, founder and executive chairman of GOC told The National on the side-lines of the event held at the end of April. "But, it's not only tokenisation. We give each tree a digital passport − you know exactly which country its in, the variety, the age, what it produces, its carbon data. It's fully digitalised."

The project, called Prosperity With A Purpose, aims to link investors with real-world olive trees through blockchain tokens that represent ownership in a tangible, productive asset.

George Svanidze, founder and executive chairman of GOC, plans to digitialise sustainable investment into 100 million olive trees worldwide. Antonie Robertson / The National
George Svanidze, founder and executive chairman of GOC, plans to digitialise sustainable investment into 100 million olive trees worldwide. Antonie Robertson / The National

Through this model, token holders are promised a share of profits from olive oil and fruit sales, as well as carbon credits, while supporting afforestation and land regeneration across four continents.

Currently in pre-launch, the GOC's olive-backed token − tentatively named Olive Cash − will be formally introduced in Singapore in October. "We are not selling today. It's pre-launch. We're informing the world about what we've done − planting over a million trees in Georgia − and were we're going next," Mr Svanidze says.

The future includes expansion into Kazakhstan, Uzbekistan, India, Brazil, Spain, Chile, South Africa, and even Saudi Arabia. "We want to gift olive trees to Dubai's government, and plant here too," he adds.

GOC says it already has one million olive trees planted in Georgia. Photo: GOC
GOC says it already has one million olive trees planted in Georgia. Photo: GOC

Combining environment with investment

Mr Svanidze's mission, he says, is to green the planet tree by tree while giving people "a sustainable investment in an asset that appreciates over time." An olive tree, he explains, can live for centuries, producing steadily - increasing harvests over the first 20 years. "It's not just symbolic-it's healthy, profitable, and sustainable," he says.

Each tree will be assigned a unique digital token, trackable via blockchain. Real-time data from sensors and satellite imagery provide updates on soil health, water needs, tree condition, and carbon absorption. "This is not fantasy," Mr Svanidze says. "We are really planting, really cultivating, really growing this culture in new countries. But now we want to tokenise it."

Tokenization, he believes, can revolutionise agriculture by boosting productivity and improving resource management. "When you know exactly how much water or fertiliser each tree needs, when disease strikes, how many people are needed − everything becomes more efficient. Productivity increases, and so do profits."

The model also includes a built-in safety net for investors. If a tree dies or becomes diseased, GOC replaces it from a reserve. Mr Svanidze says as the tree grows so does its value.

Although the concept is new to the region, Svanidze believes the Middle East is ripe for engagement. "We're having good conversations with governments and investors here," he says.

Carbon credits form a major pillar of the strategy. By planting millions of trees, GOC aims to tap into global demand for verified, nature-based carbon offset − digitally linked to each token. "When you make the world greener, you get more carbon credits. More fresh air, more health, more hope," the Georgian businessman says.

But questions remain. How quickly can the initiative scale 100 million trees? Will the promise of carbon credits and olive oil satisfy investor appetite? And how will it stand apart in a marketplace crowded with green claims and crypto volatility?

Mr Svanidze is undeterred. "We offer something real-something good for the planet, for health, and for future generations. It's sustainable," he says.

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Range: Up to 610km

Power: 905hp

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Sinopharm vaccine explained

The Sinopharm vaccine was created using techniques that have been around for decades. 

“This is an inactivated vaccine. Simply what it means is that the virus is taken, cultured and inactivated," said Dr Nawal Al Kaabi, chair of the UAE's National Covid-19 Clinical Management Committee.

"What is left is a skeleton of the virus so it looks like a virus, but it is not live."

This is then injected into the body.

"The body will recognise it and form antibodies but because it is inactive, we will need more than one dose. The body will not develop immunity with one dose," she said.

"You have to be exposed more than one time to what we call the antigen."

The vaccine should offer protection for at least months, but no one knows how long beyond that.

Dr Al Kaabi said early vaccine volunteers in China were given shots last spring and still have antibodies today.

“Since it is inactivated, it will not last forever," she said.

Tonight's Chat on The National

Tonight's Chat is a series of online conversations on The National. The series features a diverse range of celebrities, politicians and business leaders from around the Arab world.

Tonight’s Chat host Ricardo Karam is a renowned author and broadcaster with a decades-long career in TV. He has previously interviewed Bill Gates, Carlos Ghosn, Andre Agassi and the late Zaha Hadid, among others. Karam is also the founder of Takreem.

Intellectually curious and thought-provoking, Tonight’s Chat moves the conversation forward.

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The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

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Fuel consumption: 6.9L/100km

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Price: From Dh117,059

The specs
 
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
Gothia Cup 2025

4,872 matches 

1,942 teams

116 pitches

76 nations

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15 Lebanese teams

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Healthy tips to remember

Here, Dr Mohamed El Abiary, paediatric consultant at Al Zahra Hospital Dubai, shares some advice for parents whose children are fasting during the holy month of Ramadan:

Gradual fasting and golden points - For children under the age of 10, follow a step-by-step approach to fasting and don't push them beyond their limits. Start with a few hours fasting a day and increase it to a half fast and full fast when the child is ready. Every individual's ability varies as per the age and personal readiness. You could introduce a points system that awards the child and offers them encouragement when they make progress with the amount of hours they fast

Why fast? - Explain to your child why they are fasting. By shedding light on the importance of abstaining from food and drink, children may feel more encouraged to give it there all during the observance period. It is also a good opportunity to teach children about controlling urges, doing good for others and instilling healthy food habits

Sleep and suhoor - A child needs adequate sleep every night - at least eight hours. Make sure to set a routine early bedtime so he/she has sufficient time to wake up for suhoor, which is an essential meal at the beginning of the day

Good diet - Nutritious food is crucial to ensuring a healthy Ramadan for children. They must refrain from eating too much junk food as well as canned goods and snacks and drinks high in sugar. Foods that are rich in nutrients, vitamins and proteins, like fruits, fresh meats and vegetables, make for a good balanced diet

THE SPECS

Engine: 1.5-litre, four-cylinder turbo

Transmission: seven-speed dual clutch automatic

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Real estate tokenisation project

Dubai launched the pilot phase of its real estate tokenisation project last month.

The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.

While you're here
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Tips to stay safe during hot weather
  • Stay hydrated: Drink plenty of fluids, especially water. Avoid alcohol and caffeine, which can increase dehydration.
  • Seek cool environments: Use air conditioning, fans, or visit community spaces with climate control.
  • Limit outdoor activities: Avoid strenuous activity during peak heat. If outside, seek shade and wear a wide-brimmed hat.
  • Dress appropriately: Wear lightweight, loose and light-coloured clothing to facilitate heat loss.
  • Check on vulnerable people: Regularly check in on elderly neighbours, young children and those with health conditions.
  • Home adaptations: Use blinds or curtains to block sunlight, avoid using ovens or stoves, and ventilate living spaces during cooler hours.
  • Recognise heat illness: Learn the signs of heat exhaustion and heat stroke (dizziness, confusion, rapid pulse, nausea), and seek medical attention if symptoms occur.
Updated: May 15, 2025, 9:13 AM`