RAK Digital Assets Oasis (RAK DAO), an initiative led by the Government of Ras Al Khaimah, has entered into a groundbreaking agreement with Conflux Network, a leading blockchain developer. This partnership aims to revolutionize the landscape of blockchain and digital asset development, particularly in the Middle East.
With a shared vision of progress, RAK DAO and Conflux Network have signed a strategic Memorandum of Understanding (MOU) to redefine the industry. The MOU, which has been effective since 2023, emphasizes their commitment to leveraging each other’s strengths and expertise for mutual advancement.
The collaboration between RAK DAO and Conflux Network encompasses various aspects, including joint initiatives, strategic support and development, and support and grants. Through incubation and acceleration programs, educational initiatives, and community-building events, innovative projects will be nurtured and a vibrant blockchain community will be fostered.
RAK DAO will provide support to Conflux Network in establishing a strong presence in the UAE and wider Middle East, while Conflux Network will tailor blockchain solutions to meet the specific needs of digital and virtual asset companies within RAK DAO. Additionally, Conflux Network will offer support to startups and projects within RAK DAO, develop tailored blockchain solutions, and facilitate market entry into Asia.
This alliance between RAK DAO and Conflux Network is poised to bring significant benefits. Together, they will drive advancements in blockchain technology and provide educational and developmental opportunities to cultivate a skilled workforce in the sector.
Dora Jiang, Global BD Lead of Conflux, expressed her excitement about the collaboration: “Conflux is thrilled to partner with RAK DAO, an exciting initiative in the Web3 space. This collaboration aligns with our mission to provide blockchain infrastructure and support the global adoption of Web3 technologies. We are eager to leverage our expertise and resources to empower businesses and entrepreneurs in Ras Al Khaimah. Together, we will shape the future of blockchain and digital assets in the region.”
RAK DAO, with its progressive policies and supportive ecosystem, is dedicated to fostering the growth of digital assets and blockchain technology. Conflux Network, as a permissionless Layer 1 blockchain, connects decentralized economies across borders and protocols. Being the only regulatory-compliant public blockchain in China, Conflux offers a unique advantage for projects expanding into Asia.
The collaboration between RAK DAO and Conflux Network marks a significant milestone in the blockchain industry, and both parties are committed to exploring further avenues for cooperation in the digital assets and Web3 space. This partnership has the potential to drive transformative changes in blockchain innovation, contributing to the continued growth and adoption of this revolutionary technology.
FAQ: RAK DAO and Conflux Network Partnership
Q: What is RAK DAO?
A: RAK DAO is an initiative led by the Government of Ras Al Khaimah, dedicated to fostering the growth of digital assets and blockchain technology.
Q: What is Conflux Network?
A: Conflux Network is a leading blockchain developer, focusing on permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols.
Q: What is the purpose of the partnership between RAK DAO and Conflux Network?
A: The partnership aims to revolutionize the landscape of blockchain and digital asset development, particularly in the Middle East, by leveraging each other’s strengths and expertise for mutual advancement.
Q: When did the partnership become effective?
A: The partnership became effective in 2023 through a strategic Memorandum of Understanding (MOU).
Q: What aspects does the collaboration between RAK DAO and Conflux Network cover?
A: The collaboration includes joint initiatives, strategic support, development, support grants, incubation and acceleration programs, educational initiatives, community-building events, and tailored blockchain solutions.
Q: How will RAK DAO support Conflux Network?
A: RAK DAO will provide support to Conflux Network in establishing a strong presence in the UAE and wider Middle East.
Q: How will Conflux Network support RAK DAO?
A: Conflux Network will tailor blockchain solutions to meet the specific needs of digital and virtual asset companies within RAK DAO, offer support to startups and projects, develop tailored blockchain solutions, and facilitate market entry into Asia.
Q: What benefits will the partnership bring?
A: The partnership aims to drive advancements in blockchain technology, provide educational and developmental opportunities, and contribute to the growth and adoption of blockchain and digital assets in the region.
Key Terms:
– RAK DAO: An initiative led by the Government of Ras Al Khaimah, focused on fostering the growth of digital assets and blockchain technology.
– Conflux Network: A leading blockchain developer, focusing on permissionless Layer 1 blockchain that connects decentralized economies across borders and protocols.
– Web3: Refers to the next evolution of the internet, where decentralized applications and platforms are built on blockchain technology.