RAK's Innovation City Unveils Blockchain-Based Digital Business Identity

May 4, 2026

78 min

May 4, 2026 12:32

RAK’s Innovation City launches world’s first blockchain-based digital business identity

## Introduction to a New Era

Innovation City in Ras Al Khaimah has launched a groundbreaking blockchain-based digital business identity system. This initiative, powered by IOPn's OPN chain, marks a significant shift in how businesses establish and verify their identities.

## A Revolutionary Approach

The new system transforms traditional business licenses into dynamic, cryptographically verifiable digital assets. This innovation eliminates the need for centralized intermediaries and enhances the reliability of verification processes.

## Alignment with UAE's Strategic Goals

The launch aligns with the UAE's strategic plan to integrate agentic AI into 50% of federal operations within two years. The digital business identity facilitates autonomous processing of licenses and compliance checks, accelerating interactions at machine speed.

## Leadership and Vision

Paul Dawalibi, CEO of Innovation City, emphasized the transformative nature of this development, stating that businesses now possess a "soul on the blockchain." Mojtaba Asadian, CEO of IOPn, highlighted the role of OPN Chain as the infrastructure for digital sovereignty, enabling secure and interoperable business identities.

## Benefits and Implications

The system offers radical transparency, instant verification, and fraud reduction. It is designed to support AI-native operations, ensuring safe interactions between autonomous systems and businesses. Companies adopting this technology gain a competitive edge, with enhanced access to AI-powered services and global partnerships.

## Conclusion

Innovation City is setting a new global standard for digital transformation, proving that the future of enterprise lies in sovereign, verifiable identities on the blockchain. This development positions Ras Al Khaimah as a leader in the digital economy, paving the way for a new era of commerce.

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