As the AIK Digital Assets Oasis (RAK DAO), the world’s first common law free zone for digital asset enterprises, Ras Al Khaimah Digital Asset Oasis (RAK DAO) officially announces a historic partnership with India Blockchain Alliance (IBA), India’s leading blockchain advocacy group.
The aim of this collaboration is to build a global blockchain ecosystem wherein India and UAE would share innovation, and talent exchange. With RAK DAO’s ecosystem of over 400 companies, and the robust legal and regulatory framework, the partnership provides Indian blockchain companies a streamlined entry into the UAE market.
IBA-RAK DAO Alliance to Boost ESG Innovation and Global Blockchain Growth
IBA’s extensive network and domain expertise in India’s blockchain sector — which represents 115 million crypto users and a vibrant startup culture — will present unparalleled opportunities for UAE based firms.Iba founder Raj Kapoor focused on the initiative’s ESG prioritisation, which encompasses environmental, social, and governance challenges in blockchain.
“We are observing how such frameworks are leveraged, their impact, and how these best practices could be adopted at a national level. This partnership aims to foster meaningful policy transformation back home.”
According to Kapoor, blockchain offers the promise of making ESG standards real time in industries like the agriculture, fashion and electronic sectors by proving real time certification.
RAK DAO part of Dubai’s exciting free zones which have several advantages like tax incentives, complete foreign ownership and limited regulatory barriers, are attracting global investors.
Kapoor also noted that RAK DAO’s strong regulatory framework as compared to the regulatory uncertainty in India, is one of the reasons why blockchain development in India has been stunted.
By being in a common law jurisdiction, i.e. RAK DAO, we have legal clarity, investor protection but also provide for global dispute resolution mechanics – which set up a perfect digital environment for blockchain innovation.
Kapoor noted that with the partnership, Indian Web3 startups will be able to raise money from the international front, eliminating operational hurdles and enable them to design transformative solutions.
This alliance is about to reshape the blockchain landscape by creating a stable foundation for its growth and cross border collaborations, enabling the entry of decentralized technology throughout the other side of the globe.
