Coinciding with its recently announced partnership with the UAE’s Ras Al Khaimah Digital Assets Oasis (RAK-DAO), India Blockchain Alliance for web3 innovation takes a huge leap forward. This collaboration spotlights the rising need for a collaboration in blockchain technology.
This alliance is a turning point in the blossoming of cross-border blockchain initiatives between India and the UAE.
Key-Takeaways:
- India Blockchain Alliance is a partner with RAK-DAO and allows companies to connect through 400+ partner companies with their powerful regulatory support.
- Tax incentives, foreign ownership, as well as easy UAE market entry, encourage innovation and growth.
- As its priority, the alliance promotes compliance with the ESG and studies about blockchain literacy by means of research and educational initiatives.
Indian Web3 Companies Strategic Benefits
Indian blockchain companies get access to RAK-DAO’s ecosystem of over 400 companies as well as its robust regulatory framework. This can only grow and innovate the blockchain space.
Now domestic firms can navigate through the UAE market with ease through India Blockchain Alliance for web3 innovation. The region’s legal structures and business-friendly environment provide them with their benefits.
The alliance provides an avenue for India’s vast Web 3 pool of developers and startups to extend knowledge exchange with two regions. It helps foster innovation and promote industry blockchain ties.
The India Blockchain Alliance for web3 innovation is a crucial bridge between the two markets, with India having a cryptocurrency user base now well over 115 million. This allows both parties to share their talent and all its resources for each other’s growth.
Sustainable Development focuses.
Within this partnership, however, environmental, social, and governance (ESG) principles are heavily engaged in blockchain development. The focus of this is on the significance of sustainability and ethical innovation.
Through blockchain-based certificates, the collaboration seeks to encourage responsible practice. Real-time ESG compliance tracking across industries like Agriculture, Fashion, Electronics is enabled by these tools.
Indian companies can set up shop within the world’s first Free Zone dedicated to Web3 firms for a stable regulatory environment within RAK-DAO. This unique setup provides for a smooth expansion into the UAE market.
Tax incentives and complete foreign ownership rights are offered in the Free Zone. These benefits give rise to an ideal environment for blockchain innovation and development.
Conclusion
The India Blockchain Alliance for Web3 Innovation has collaborative research and educational programs included in their partnership. This initiative increases the awareness of blockchain in both regions and helps in advancing technological advancement in both regions.
How will combining this with existing efforts bring about the future of innovation and education tied to the blockchain?
