India and UAE Form Strategic Blockchain Partnership to Foster Global Ecosystem

India Blockchain Alliance Partners with RAK Digital Assets Oasis

India’s leading blockchain advocacy group, the India Blockchain Alliance (IBA), has announced a landmark partnership with Ras Al Khaimah Digital Assets Oasis (RAK DAO), the world’s only common law free zone for digital asset enterprises. This collaboration aims to create a unified global blockchain ecosystem, promoting innovation and talent exchange between India and the UAE.

Key Objectives of the Partnership

The partnership will facilitate Indian blockchain companies’ entry into the UAE market through RAK DAO’s ecosystem of over 400 companies, providing access to a legal and regulatory framework. In return, UAE-based companies will benefit from IBA’s extensive network and domain knowledge of the Indian blockchain landscape, which boasts over 115 million crypto users and a thriving startup ecosystem.

“We are trying to bridge the environmental, social, and governance deficit on blockchain, encouraging sustainable practices and responsible innovation.” – Mr. Raj Kapoor, Founder of IBA

Emphasis on ESG and Sustainable Growth

IBA’s focus on transparency and decentralized governance aligns with Environmental, Social, and Governance (ESG) requirements, ensuring ethical and sustainable growth in the blockchain industry. The partnership aims to foster meaningful policy transformation in India, optimizing existing structures to consume less energy and promoting technological advances that align with sustainability goals.

Blockchain for ESG Compliance

Innovative technologies like blockchain contribute to transparency and ethically sourced products in industries such as agriculture, fashion, and electronics. By leveraging blockchain-based certificates, companies can track strict adherence to ESG regulations in real-time.

RAK DAO: A Hub for International Investors

The free zones in Dubai, including RAK DAO, provide a conducive environment for entrepreneurs, offering tax incentives, 100% ownership of foreign investors, and relaxed contingent regulation. With over 40 free zones operating in the region, these economic hubs have contributed to the diversification of the economy.

A Strong Regulatory Framework

Unlike India, where regulatory ambiguity has hindered progress in blockchain technology, RAK DAO boasts a robust regulatory framework. This framework reduces operational hurdles, enabling innovators to focus on solutions rather than compliance.

Key benefits of the partnership include:

  • Access to funding from international investors for Indian Web3 startups
  • A stable regulatory environment with predictable and clear regulations
  • Legal certainty, investor protection, and familiar dispute resolution mechanisms

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