Singularity · Tokenization
What tokenization changes for PPPs in Jordan
Tokenization finances infrastructure, funds small pilots from the asset’s own revenue and opens ownership to everyone. Every guide sets out what it changes for one kind of organization.
In every guide
A section of its own in every guide
Page 9
Tokenization
How tokenization funds small pilots from the asset’s own revenue.
Each of the 52 guides writes this section for its own kind of organization; 50 of them are gathered below.
Read the guide for Blockchain Companies in Jordan
Page 9 of the guide for banks
In the guides’ own words
“Tokenization gives a ministry a new way to finance projects and to share them with citizens.”
“Tokenization turns a bank into an issuer, a custodian and a distributor for infrastructure.”
“Solar and storage plants with long-term power purchase agreements suit tokenization well, because their revenue is contracted and easy to measure.”
Why now
A once-in-a-generation convergence
01
Unprecedented demand
Government appetite for infrastructure is at an all-time high, with $500 trillion of investment needed over the coming decades.
02
Legacy systems failing
PPPs today are slow, expensive and closed to public participation, and the financing gap widens every year.
03
Three technologies converging
Artificial intelligence, robotics and tokenization are now mature enough to operate at scale, and together they are converging to make the PPP singularity possible.
The path
Markets tokenize entities before they tokenize systems
Tokenized PPP companies come before tokenized PPP projects. Each phase builds the trust, liquidity and standards the next one needs.
The roadmap
Ten steps to tokenized PPP infrastructure exchanges
The transformation begins with structure. Projects become digital, standard and legally defined assets; institutions enter first; pilots prove the model; liquidity forms privately before markets ever go public.
- 1
Digitization
PPP projects become data
- 2
Standardization
Templates for risk, contracts, governance and finance
- 3
Legalization
Tokens defined as legal financial instruments
- 4
Tokenization
PPP equity becomes digital tokens
- 5
Compliance
Trust and regulation
- 6
Institutions
Banks, funds, DFIs and family offices come on board
- 7
Pilots
The first tokenized PPP projects
- 8
Liquidity
Private trading, OTC markets and liquidity pools
- 9
Markets
Pricing, indices, ratings and discovery
- 10
Exchanges
Tokenized PPP marketplaces and exchanges
Side by side
Traditional PPP and tokenized PPP
| Traditional PPP | Tokenized PPP | |
|---|---|---|
| Financing source | Big banks and government | Blockchain and tokens |
| Capital access | Large investors and lenders | Global retail and institutional investors |
| Liquidity | Low | High |
| Transaction cost | High | Low |
| Transaction speed | Slow | Fast |
| Trust model | Institutions and contracts | Code, blockchain and smart contracts |
| Architecture | Closed | Open |
| Accessibility | Hard | Easy |
| Transparency | Low | High |
| Settlement | Manual | Automated |
| Scalability | Slow | Fast |
The democratization of everything
Every great invention opened something to everyone. Next comes ownership
Tokenization will open the $500 trillion PPP infrastructure economy to everyone, the way the printing press opened knowledge and the internet opened information.
Printing press
Democratized
Knowledge
Compass
Democratized
Exploration
Electric lighting
Democratized
Time
Personal computing
Democratized
Productivity
Internet
Democratized
Information
Smartphone
Democratized
Connectivity
AI
Democratized
World-building
Tokenization
Democratized
Ownership
From the 52 guides
What tokenization changes for each kind of organization
Point at an organization to read what its guide says.Tap an organization to read what its guide says.
Tokenization can let Jordanians at home and abroad own part of what is built in the country. A national initiative can bring the first tokenized PPP to market on a small project with contracted revenue, building on Jordan’s national Blockchain Technology Policy of December 2024, with returns paid from the asset’s own revenue and every milestone recorded on a public registry.
Read the guideA national framework for tokenized PPP notes gives every ministry the same route to a new pool of capital. It can set how a project company issues notes, who may hold them, how holders are paid from the asset’s revenue and how performance is reported, so the first issue can be a small project and later issues can follow the same rules.
Read the guide
Tokenization gives a ministry a new way to finance projects and to share them with citizens. A project company can raise part of its capital from a few hundred investors and pay them from the asset’s own revenue, and a public registry can record contracts, milestones and payments for everyone to see, so Jordanians can own part of what is built for them.
Read the guideTokenization lets residents invest in the services they use. A car park, a market or a solar roof on a public building can raise its capital from a few hundred local investors and pay them from its own revenue, and a public registry shows everyone what was built, what it cost and how it performs.
Read the guideTokenization lets citizens and regional investors take a share in the assets that serve them. A state-owned company can place an operating asset, such as a pumping station, a storage plant or a treatment works, in a project company, raise part of its capital through tokenized participation and pay holders from the asset’s own revenue, while a public registry records the contract, the payments and the asset’s performance for everyone to see.
Read the guideTokenized PPP notes raise questions that regulators and market institutions are best placed to answer: how a note is classified, who may hold it, where ownership is recorded, how custody and settlement work and how holders are paid and protected. A sandbox and clear rules on these points would let Jordanian savers hold infrastructure safely and give Jordan a regulated market for tokenized infrastructure that other markets in the region can recognize.
Read the guide
03Capital
Tokenization turns a bank into an issuer, a custodian and a distributor for infrastructure. The bank can originate a PPP loan, place tokenized participations with its own retail and private clients, pay them from the project’s revenue through smart contracts and keep the relationship with the borrower, which releases capital for the next project.
Read the guideTokenization opens infrastructure to many more investors, and development finance can make the first issues safe enough to buy. A development finance institution can anchor the first tokenized PPP notes in Jordan with a first-loss tranche or a guarantee, fund the legal and technical work behind them and publish each project’s performance to a shared registry, so later issues can follow with less support.
Read the guideTokenization gives a fund a new way to sell down and recycle capital. The fund can tokenize a stake in an operating PPP, place it with regional and retail investors, pay holders from the project’s revenue through smart contracts and keep control of the asset, so each sale funds the next project and sets a price for the holding.
Read the guideTokenization gives a long-term owner liquidity without a full sale. The fund can hold its PPP stakes as tokens, sell small portions to rebalance, receive revenue through smart contracts as it arrives and open a share of national infrastructure to citizens, so a sovereign or pension allocation becomes a holding the public can join.
Read the guideTokenization lets an insurer invest its reserves in infrastructure in smaller pieces it can trade. The company can hold tokenized notes in operating PPPs, receive revenue through smart contracts as it arrives and sell portions to match its liabilities, while it insures the issuers and custodians that build the new market.
Read the guideTokenization suits the way families hold wealth. A family office can hold tokenized notes in an operating PPP, receive revenue through smart contracts as it arrives, sell small portions when it needs liquidity and divide a holding among heirs without breaking up the asset, which makes infrastructure as easy to pass on as any other investment.
Read the guide
Tokenization reaches developers first, because a developer already holds many projects in one company. Your company can tokenize part of its own equity or a portfolio of operating stakes, raise development capital from a wider pool of investors, pay holders from the portfolio’s revenue through smart contracts and recycle the proceeds into the next bid.
Read the guideZone infrastructure suits tokenization, because utilities and leased plots earn contracted revenue from known tenants. A zone developer can tokenize stakes in its power, water or logistics assets, pay holders from tenant charges as they arrive and publish each asset’s performance to a shared registry, so tenants, workers and regional investors can own part of the zone they work in.
Read the guideTokenization gives a contractor a new way to fund its equity in a project and to recycle it. Your company can raise its share of a small concession from a wider pool of investors, sell part of its stake in an operating asset as tokens once construction risk has passed, and put the proceeds into the next bid.
Read the guideTokenized title deeds already bring property onto token registers in the region. A developer can carry the same model into a PPP district, selling tokenized stakes in its homes, offices and public assets to residents and regional investors in small amounts, and paying holders from rents and availability payments as the money arrives.
Read the guideTokenized infrastructure needs trusted data. Investors who hold a token in a PPP rely on independent reports of progress, performance and condition, and an engineering firm can feed those reports into the registries and smart contracts that pay holders. Your firm can also advise governments on which projects suit tokenization and how to prepare them for it.
Read the guide
05Advisors and professional bodies
Tokenization needs lawyers at every step. Each issue of tokenized PPP notes requires a legal structure, a regulated venue, investor disclosures, security over the project’s revenues and smart contracts that match the legal documents. A firm that builds this practice early can advise issuers, banks and governments on the first tokenized PPPs in the region.
Read the guideTokenized notes need the same discipline as any security: a structure, a financial model investors can trust, disclosures and a payment waterfall that a smart contract can follow. A financial advisory firm can design those structures, audit the models behind them and advise governments and sponsors on which projects suit tokenization.
Read the guideTokenization lets members and their clients invest in the projects their firms build. A small PPP can raise its capital from a few hundred investors and pay them from the asset’s own revenue, so a consortium of member firms can fund a pilot without waiting for a large lender, and a member body can teach its members how tokenized projects are structured, disclosed and run.
Read the guide
An operating asset with a performance record suits tokenization best. Your company can offer tokenized stakes in the concessions it runs, pay holders from tariffs and availability payments as they arrive, and publish live performance data to the same registry, which gives investors and the contracting authority one record of how the asset performs.
Read the guideA building with a clean availability record suits tokenization well, because the government pays for it under a long contract. Your company can offer tokenized stakes in the facility concessions it holds, pay holders from availability payments as they arrive and publish its service levels to the same registry, which gives investors and the contracting authority one record.
Read the guideFiber routes, towers and data centers earn contracted revenue for decades, the kind of cash flow a token represents well. A telecom operator can offer tokenized stakes in the digital infrastructure it builds under a PPP, pay holders from capacity and lease payments as they arrive and let its customers own part of the network.
Read the guideA terminal, dry port or warehouse earns from every container and pallet it handles, and that revenue can be shared with many investors. A logistics company can offer tokenized stakes in the PPP assets it runs, pay holders from handling and storage fees as they arrive and publish throughput data so investors follow the asset as it performs.
Read the guideA health PPP earns availability payments from government for decades, the kind of steady cash flow a token represents well. A hospital group can offer tokenized stakes in its PPP clinics and hospitals to Jordanian and regional investors and the diaspora, pay holders as the payments arrive and record each asset’s performance on the same registry.
Read the guide
Tokenization opens a new product line for platform companies. A technology company can supply the issuance, investor onboarding, custody and revenue distribution software behind a tokenized PPP, connect it to the asset’s sensors so holders see performance as it happens, and license the same stack to the next project and the next country.
Read the guideA tokenized PPP pays its holders from the asset’s own revenue, and investors need to trust the numbers behind each payment. An AI company can supply the models that forecast tolls, tariffs and availability payments, monitor the asset and report its performance to the registry, so holders see what they own as it happens. Sovereign compute can be tokenized too, with stakes in a data center paid from its capacity contracts.
Read the guideA fleet of robots working under a maintenance contract earns steady revenue, the kind of cash flow a token represents well. A robotics company can tokenize stakes in its fleets or in a small robot-built PPP, pay holders from the service fees as they arrive and publish each machine’s work to the registry, so investors see what the fleet has inspected and repaired.
Read the guideTokenization is the core product. A blockchain company can issue tokenized stakes in PPP companies, portfolios and projects, onboard Jordanian and regional investors with identity checks built in, pay holders through smart contracts as tolls and tariffs arrive and run the secondary market where those stakes trade.
Read the guideTokenization joins finance, law and computer science, and a university is one of the few places where all three sit together. A program can research how PPP revenues are tokenized, regulated and paid out, design a pilot issue around a campus asset, and train the lawyers, engineers and financiers the first tokenized PPPs will need.
Read the guideTokenization lets a campus project be financed by a community. A solar roof or a water system can be funded by parents, alumni and local investors who each hold a small share and are paid from the asset’s own savings, and students can follow every step as a lesson in finance and law.
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Solar and storage plants with long-term power purchase agreements suit tokenization well, because their revenue is contracted and easy to measure. An energy developer can tokenize stakes in its operating plants, pay holders from power sales as they arrive and publish each plant’s output to the same registry, so investors see what the asset produces.
Read the guideGas networks, storage terminals and fuel pipelines earn steady, regulated revenue from tariffs and throughput, the kind of cash flow a token represents well. An oil and gas company can tokenize stakes in its PPP assets, pay holders from tariffs as they arrive and publish each asset’s throughput and safety record to the same registry, so investors see what the asset delivers.
Read the guideA desalination or treatment plant with a long-term purchase agreement earns contracted, measurable revenue, which suits tokenization. A water company can tokenize stakes in the plants and networks it runs, pay holders from water tariffs and availability payments as they arrive and publish each asset’s output and losses to the same registry, so investors see what the asset delivers.
Read the guideA toll road, parking network or transit concession earns from every trip, the kind of steady revenue a token represents well. A transport company can offer tokenized stakes in the PPP assets it runs, pay holders from tolls, fares and fees as they arrive and publish ridership and traffic data, so commuters and investors can own part of the network they use.
Read the guideA greenhouse or cold store with a long-term offtake agreement earns steady, measurable revenue, which suits tokenization. An agriculture company can tokenize stakes in the farms and facilities it runs, pay holders from produce sales and storage fees as they arrive and publish each site’s yield and water use to the same registry, so investors see what the asset produces.
Read the guideRail lines, bulk terminals and solar plants backed by a mining company’s long-term volumes have the steady, contracted revenue that tokenization suits. A mining company can offer tokenized stakes in the shared infrastructure it anchors, pay holders from freight, handling and power charges as they arrive and record each shipment’s origin on the same ledger, so buyers can trace it to its mine.
Read the guideAn industrial park earns rent and utility charges from its tenants for decades, and that revenue can be shared with many investors. A manufacturer can offer tokenized stakes in the parks and shared utilities it develops, pay holders from tenant charges as they arrive and record each component’s origin and test results on a ledger that contractors and lenders can check.
Read the guideA supply, equipment or laboratory PPP earns service payments from government for years, the kind of steady cash flow a token represents well. A life sciences company can offer tokenized stakes in its PPP plants, laboratories and distribution centers to Jordanian and regional investors and the diaspora, pay holders as the payments arrive and record each batch and shipment on the same registry.
Read the guideA hotel, resort or visitor concession earns steady revenue from rooms, tickets and services, the kind of cash flow a token represents well. A tourism company can sell tokenized stakes in its PPP assets to residents, regional investors and the diaspora, pay holders as the revenue arrives and give them a share in the destinations they visit.
Read the guideA school or training center under a PPP earns steady availability payments over a long contract, the kind of revenue a token represents well. An education company can offer tokenized stakes in the PPP assets it runs to parents, alumni, the diaspora and regional investors, pay holders as the payments arrive and publish each school’s performance to the same registry.
Read the guideA recycling, biogas or waste-to-energy plant with long-term supply and offtake agreements earns contracted, measurable revenue, which suits tokenization. A circular economy company can tokenize stakes in the plants it runs, pay holders from gate fees and material and power sales as they arrive and publish each plant’s tonnage and recovery rates to the same registry, so investors see what the asset recovers.
Read the guideSavings from a retrofit, fees from a charging network and verified carbon reductions are steady, measurable revenues that tokenization suits. A green economy company can offer tokenized stakes in its retrofit portfolios and charging networks, pay holders from savings and fees as they arrive and record each verified reduction on the same ledger, so investors see the impact behind their return.
Read the guideA studio, venue or heritage experience under a PPP earns from tickets, rentals and licensing, the kind of revenue a token represents well. A creative company can offer tokenized stakes in the PPP assets it runs to audiences, the diaspora and regional investors, pay holders as the revenue arrives and publish attendance and bookings so holders can follow the asset as it performs.
Read the guideA venue concession earns revenue from tickets, hospitality, sponsorship and events, the kind of cash flow a token represents well. A sports and entertainment company can sell tokenized stakes in its PPP venues to fans, residents, regional investors and the diaspora, pay holders as the revenue arrives and give supporters a share in the places where they watch and play.
Read the guide
Tokenization can bring new funders into humanitarian infrastructure. A solar plant or a water network that earns a steady payment can raise its capital from many investors, including the Jordanian diaspora, and pay them from its own revenue, while a public registry shows everyone what was built, what it cost and how it performs.
Read the guideTokenization opens infrastructure to many more investors, and a donor can make the first issues safe enough to buy. A first-loss tranche or a guarantee from a donor or foundation can anchor the first tokenized PPP notes in Jordan, and a shared registry lets every investor see how each project performs.
Read the guideTokenization lets many people own a share of the assets their community needs. A solar roof or a water network that earns a steady payment can raise its capital from hundreds of Jordanians at home and abroad, and pay them from its own revenue, with every result recorded on a public registry.
Read the guideTokenization lets residents and the diaspora invest in their town’s resilience. A water reservoir, a solar plant for public buildings or a waste facility that earns a steady payment can raise its capital from many local investors and pay them from its own revenue, with a public registry showing what was built and how it performs.
Read the guideTokenization opens impact investing to many more people. A solar roof, a water kiosk network or a recycling plant that earns a steady payment can raise its capital from many investors in Jordan and abroad and pay them from its own revenue, with a public registry showing the impact and the returns.
Read the guide
01 · National leadership
Royal Hashemite Court
Tokenization
Tokenization can let Jordanians at home and abroad own part of what is built in the country. A national initiative can bring the first tokenized PPP to market on a small project with contracted revenue, building on Jordan’s national Blockchain Technology Policy of December 2024, with returns paid from the asset’s own revenue and every milestone recorded on a public registry.
More on the singularity
The infrastructure singularityThe $500 trillion rebuild
Futureproof your organizationWhat changes, and where to start
Artificial intelligenceDesigns, structures and runs the assets
RoboticsBuilds the assets and keeps them running
Small PPPs and research labsMany small projects, run in parallel
Unsolicited proposalsTake your own PPP idea to government