RAK Digital Assets Oasis Redefines Web3 Innovation Landscape

RAK Digital Assets Oasis Redefines Web3 Innovation Landscape

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By Hernaldo Turrillo

RAK Digital Assets Oasis (RAK DAO) is a world's pioneering common law Free Zone dedicated to digital and virtual asset companies. It recently hosted a landmark event that not only signaled the beginning of a new era of Web3 innovation but also underscored its groundbreaking significance.

RAK Digital Assets Oasis Redefines Web3 Innovation Landscape

On October 19, 2023, the grand event unfolded at the prestigious Al Hamra International Exhibition and Convention Center, bringing together thought leaders, influential personalities, and government dignitaries. This gathering was not just about celebrating an auspicious start; it was about shaping the future of digital assets and the transformative Web3 technologies.

The event transcended borders and boundaries, uniting over 850 attendees and offering insights from 40 globally renowned speakers. Additionally, it featured the participation of 11 exhibitors, turning it into a vibrant crossroads of international expertise. Esteemed partners such as RAKBANK, HBAR Foundation, Binance, Solana Foundation, and a consortium of supporting partners curated immersive experiences for attendees, including a metaverse exploration by Landvault and a digital art VR activation by Arts DAO.

Under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, the event kicked off with a powerful keynote address that emphasized the pivotal role of innovation. His Highness remarked, "Innovation is a driving force that has transformed the world in profound ways, shaping how we live, work, communicate and address global challenges. Ras Al Khaimah is committed to embracing new and emerging tech sectors and playing a leading role in national efforts to strengthen the UAE economy and drive sustainable growth in the region."

But it wasn't just speeches and pleasantries; the event saw the signing of a historic Memorandum of Understanding (MoU) between RAK DAO and the Securities and Commodities Authority (SCA), setting the stage for significant collaborations. It also featured engaging panels with industry luminaries like His Excellency Gabriel Abed, Andrea Prazakova, Pierre Samties, Amy Oldenburg, Alex Chehade, Pascal Gauthier, Yat Siu, and many others. Attendees had the privilege of gaining profound insights into topics ranging from the role of AI in the digital asset landscape to strategies for safeguarding digital asset policies. The event also delved into the transition from Web2 to the exciting world of Web3, the vital role of Central Bank Digital Currencies (CBDCs), and how blockchain is reshaping traditional businesses.

But what makes RAK DAO truly groundbreaking is its role as a Digital Assets Oasis. It's not just another Free Zone; it's a vibrant ecosystem designed to support and nurture virtual asset companies. Situated in the UAE Emirate of Ras Al Khaimah, RAK DAO provides a transparent legislative framework that simplifies the process of establishing and operating virtual asset companies. Beyond the legal framework, it serves as a catalyst for innovation, propelling emerging sectors and unlocking the vast potential of digital assets.

Dr. Sameer Al Ansari, CEO of RAK DAO, encapsulated the spirit of the event, stating, "Looking back at our launch event, which featured distinguished keynote speakers, engaging panels, and networking sessions, I am thrilled to see our vision come to life. The event was a true testament to our commitment to fostering collaboration, supporting startups, and driving innovation in the digital landscape. The enthusiasm of all participants has set the stage for a bright digital future in Ras Al Khaimah. As we reflect on this moment, we are more motivated than ever to continue our journey, building a strong, global presence in the digital economy."

RAK DAO's mission extends beyond mere establishment; it aspires to become the global epicenter for digital asset innovation. By attracting international partners and fostering collaboration within the Free Zone, RAK DAO is not only solidifying Ras Al Khaimah's position as a hub for innovation but also enhancing its global appeal to businesses navigating the digital frontier.

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