RAK Digital Assets Oasis and Conflux Technology Announce Transformative Partnership in Blockchain

When you think of technology innovation, partnerships may not be the first thought that comes to mind. But that perspective is behind the times. According to Forbes, “The power of partnership—between established businesses and new players—can help industries make that daunting leap from transformative ideas to real-world solutions that drive fast and efficient innovation.” And that’s how institutions like RAK DAO and Conflux Technology are accelerating blockchain innovation.

RAK DAO, Conflux & Blockchain Adoption

RAK Digital Assets Oasis (RAK DAO), the world’s first and only common law free zone dedicated to digital assets companies, has entered into a significant Memorandum of Understanding (MOU) with Conflux Technology Limited, a leading Layer 1 blockchain network developer.

Conflux Technology Limited pioneers regulatory-compliant, public and permissionless blockchain solutions, fostering a global crypto ecosystem. With principles of openness, inclusivity and decentralization, Conflux enables secure, affordable asset transfers. Transparent in their endeavours, they connect communities worldwide, ensuring fair access to emerging technologies and driving the evolution of the new global economy.

This strategic partnership will foster joint initiatives and exchange of expertise, benefitting the companies in RAK DAO and further promoting the adoption of blockchain and Web3 technologies within the United Arab Emirates and beyond.

So, how will the partnership spur blockchain creativity?

Cultivating Innovation through Programs, Education and Events

RAK DAO, a pioneering initiative of the Government of Ras Al Khaimah, is dedicated to enabling innovation in the blockchain space. By leveraging its proficiency in blockchain infrastructure development, Conflux Technology Limited will partner with RAK DAO. The collaboration aims to:

• Steer incubation and acceleration programs
• Design educational initiatives
• Host impactful events and workshops
• Nurture a collaborative community
• Champion progressive blockchain regulations and policies in Ras Al Khaimah and the wider UAE

Commenting on the MOU, Dr Sameer Al Ansari, CEO of RAK DAO, said: "We are thrilled to announce this partnership with Conflux Technology Limited, a renowned player in the blockchain space. This collaboration will open up exciting opportunities for digital asset companies and entrepreneurs in our free zone. We aim to create a dynamic ecosystem that fosters innovation, knowledge sharing, and growth. This partnership solidifies our commitment to establishing Ras Al Khaimah as a leading hub for digital assets and Web3 technologies."

RAK DAO's role as a facilitator for digital asset companies and Conflux's expertise in blockchain development, make it an ideal collaboration, according to Dora Jiang, Global BD Lead of Conflux:

“Conflux is delighted to be joining forces with RAK DAO, an exciting initiative in the Web3 realm. This partnership aligns with our mission to provide blockchain infrastructure and support the global adoption of Web3 technologies. We look forward to leveraging our expertise and resources to empower businesses and entrepreneurs in Ras Al Khaimah. Together, we’ll shape the future of blockchain and digital assets in the region."

Insights into the RAK DAO & Conflux MOU

With the reassuring remarks from leaders on both platforms, here’s what to expect from the MOU:

• Joint Initiatives: RAK DAO and Conflux commit to several joint initiatives, including running incubation and acceleration programs, developing educational programs, organizing events and workshops, fostering a collaborative community, and advocating for favourable blockchain regulations and policies within Ras Al Khaimah and the broader UAE.
• Exchange of Expertise: The partnership will facilitate the exchange of technical expertise and resources between the Conflux network and RAK DAO, promoting innovation in Web3 technologies.
• Cross-Sector Connectivity: RAK DAO will introduce and connect companies across various sectors to Conflux, promoting mutual growth opportunities and further strengthening the blockchain ecosystem.
• Support and Grants: Conflux will offer support to startups and projects within RAK DAO, develop tailored blockchain solutions, and facilitate the entry of RAK DAO enterprises into Asian markets.
• Technical and Financial Support: Conflux will provide technical and financial support to local enterprises in Ras Al Khaimah pursuing digitalization initiatives and transitioning to Web3 frameworks.
• Cutting-Edge Technology Hub: Conflux will support RAK DAO in establishing an innovative technology hub to develop and scale disruptive technologies worldwide as part of the RAK DAO Innovation Hub.

Both parties express their enthusiasm for this strategic partnership, with RAK DAO's role as a facilitator for digital asset companies and Conflux's expertise in blockchain development, making it an ideal collaboration.

This partnership aims to elevate Ras Al Khaimah's position as a leader in the digital assets and Web3 space, fostering a supportive and innovative environment for businesses and entrepreneurs.