Saud bin Saqr: The UAE embraces technological innovation to cement its position as a destination for future technologies

His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, emphasized the strategic importance of adopting advanced technological innovation in strengthening the position of the Emirate of Ras Al Khaimah as a center global for blockchain and digital. asset, in line with the UAE’s ambitious vision to consolidate its position as a global destination for innovation and future technologies.

This came at the opening of His Highness, yesterday, the “Ras Al Khaimah Oasis for Digital Assets” conference for the year 2024, at the Al Hamra International Exhibition and Convention Center, in the emirate, in the presence of several regional and regional. global digital experts and innovators, business leaders, and senior executives, hosted under His Majesty’s patronage.

During his keynote address at the opening of the conference, His Highness the Governor of Ras Al Khaimah praised the efforts of the “Ras Al Khaimah Digital Assets Oasis” in promoting innovation in the blockchain field, stressing that his vision for the digital space consistent with the comprehensive strategy of the United Arab Emirates, to be a major contributor to the global digital economy.

His Highness said: “The Emirate of Ras Al Khaimah plays an important role in the UAE’s digital journey, and our decision to establish the “Ras Al Khaimah Digital Asset Oasis”, the world’s first dedicated free zone your digital and virtual. asset companies, including our firm commitment to digital transformation, and achieving our country’s ambitious vision of becoming a global center “A pioneer in enabling and ‘creating digital innovation.”

His Highness said: “In the Emirate of Ras Al Khaimah, we understand the importance of digital assets in bringing about radical changes and providing unprecedented opportunities for economic growth a starting point for entrepreneurs, investors and developers, and a platform for experts to meet and exchange experiences and shape the future of this vital sector.

The conference saw the launch of the unified legislative system for Decentralized Autonomous Organizations Associations (DARe) from the innovative “Ras Al Khaimah Digital Assets Oasis”, which represents a comprehensive legal framework that aims to enable decentralized autonomous organizations (DAO). to carry out their activities in accordance with the highest security and legal compliance standards in the country.

The conference, which marks the one-year anniversary of the launch of the Ras Al Khaimah Oasis for Digital Assets and its introduction of innovative initiatives in this area, highlighted the success of the oasis, in to issue about 400 licenses in less than 12 months, and in the conclusion of partnerships with more than 40 regional and international leaders, and signing many It is one of the important note of understanding.
The list of keynote speakers at the conference included a group of the most prominent international experts, who provided analyzes and advanced perspectives on the future of blockchain technology, the Web 3.0 system, and the rapid developments in the decentralized field. technologies.

Legislative system

During the event, Dr. Samir Al Ansari, CEO of Ras Al Khaimah Digital Assets Oasis, announced the publication of the unified legal system for associations of decentralized autonomous bodies (DARe), which represents a comprehensive legal framework to enable decentralized autonomous organizations (DAO). ) to carry out their activities efficiently and safely within the framework of the system The legal framework of the UAE, since this legislative framework provides two different models:

The “Emerging DAO” model is designed for startups with less than 100 members, while the “Alpha DAO” model is designed for larger organizations with a value exceeding $1 million.

Dr. Samir Al Ansari said: “We are proud of our leadership in providing a safe and legally recognized environment for decentralized autonomous organizations (DAOs) to achieve prosperity, thanks to our announcement of launching the unified legislative system for decentralized societies. independent organizations (DARe), as this comprehensive legal framework confirms the commitment of the UAE We are firmly established in embracing the future of decentralized governance, which establishes a leading global standard in managing the activities of decentralized autonomous organizations (DAO).

Last year, Ras Al Khaimah Digital Assets Oasis succeeded in consolidating its position as a global center for digital assets, by concluding partnerships with an elite group of global institutions such as Tether Edu and Tencent Cloud .

Ibanera and Avalanche, as well as many leading blockchain operators, as well as an integrated network of basic service providers, including banking institutions and specialized legal expertise.

Understanding

The conference saw the signing of several memoranda of understanding, including the signing of agreements with the Hadron Founders Club and Match Systems, as well as the launch of two accelerators, in collaboration with D4 Innovation Labs.

And XDC, which will develop the cooperation efforts of the Ras Al Khaimah Oasis for Digital Assets in the digital asset system, and which shows the level of expansion of partnerships that will contribute to innovation in the United Arab Emirates.

During the conference, business experts, innovators and entrepreneurs participated in discussion sessions, expressing their views on the future of blockchain technologies and decentralized autonomous organizations.

The sessions focused on analyzing the interaction between advanced regulatory frameworks and innovations in the Web 3.0 field, exploring the challenges faced by emerging companies in this field, and the promising opportunities available to them. The discussions highlighted the important role that the framework of decentralized self-governing organizations plays in increasing the credibility of these organizations at a global level.

The conference, and the publication of the integrated legislative system for associations of decentralized autonomous bodies (DARe), represents an important step in the process of decentralized innovation, which will strengthen the UAE’s position as a leading a global center for decentralized autonomous entities and digital assets.