Ras Al Khaimah's RAK Digital Assets Oasis Launch Event Ushers in a New Era of Web3 Innovation

RAK Digital Assets Oasis (RAK DAO), the world's pioneering common law Free Zone dedicated to digital and virtual asset companies, recently marked the commencement of the Web3 era in the United Arab Emirates (UAE) with a grand event. Hosted on October 19, 2023, at the prestigious Al Hamra International Exhibition and Convention Center, this event brought together luminaries, influential personalities, and government dignitaries to ponder the future of digital assets and Web3 technologies.

Gathering more than 850 attendees, featuring insights from 40 speakers worldwide, and showcasing 11 exhibitors, this event served as a rendezvous for global experts and leaders united by a shared vision for the future of Web3 and emerging technologies. Esteemed exhibition partners, including RAKBANK, HBAR Foundation, Binance, Solana Foundation, and several other supporting partners, offered immersive experiences for attendees, including a metaverse exploration by Landvault and a digital art VR activation by Arts DAO.

The Launch Event, held under the patronage of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, featured a keynote speech in which he 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.”

Following the opening speech, a historic Memorandum of Understanding (MoU) was signed between RAK DAO and the Securities and Commodities Authority (SCA), accompanied by panels featuring industry stalwarts like His Excellency Gabriel Abed, Andrea Prazakova, Pierre Samties, Amy Oldenburg, Alex Chehade, Pascal Gauthier, Yat Siu, and many others. Attendees gained profound insights into topics such as AI and digital assets, strategies for safeguarding digital asset policies, the shift from Web2 to Web3, the role of Central Bank Digital Currencies (CBDCs), and how blockchain is reshaping traditional businesses.

Dr. Sameer Al Ansari, CEO of RAK DAO, reflected on the event, saying, "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 aspires to become the global epicenter for digital asset innovation. Through its efforts to attract international partners and promote collaboration within the Free Zone, RAK DAO is cementing Ras Al Khaimah's standing as a preeminent hub for innovation, enhancing its global appeal to digital-era businesses.

The event was held in Ras Al Khaimah (RAK), the northernmost of the UAE's seven Emirates. The country offers diverse landscapes, a rich 7,000-year history, and UNESCO-listed archaeological sites. Jebel Jais, the UAE's highest mountain, features attractions such as the world's longest zip line and the UAE's highest restaurant, 1484 by Puro. Centrally located at the crossroads of Europe, Asia, and Africa, RAK serves as an ideal business hub with a diverse economy. It has maintained 'A' ratings from Fitch and Standard & Poor’s for 15 years. With a multicultural population of 0.4 million in 2023, RAK offers year-round sunshine, a business-friendly environment, and an affordable cost of living.