"Innovation City has launched a blockchain-based digital business identity system that replaces traditional paper and PDF licenses with living, cryptographically verifiable digital assets on the OPN chain. This shift allows for instant, immutable verification of corporate credentials, moving away from centralized databases."
"The OPN chain supports over 10,000 transactions per second, providing the necessary machine-readable infrastructure for AI agents to autonomously process permits, compliance checks, and taxation. This aligns with the UAE's goal to transition 50% of government services to agentic AI within two years."
"Paul Dawalibi, CEO of Innovation City, stated, 'Today we don't just register companies, we give them a soul on the blockchain.' This reflects a significant transformation in how business identities are managed, moving from fragile databases to a robust blockchain system."
Innovation City in Ras Al Khaimah introduced a blockchain-based digital business identity system on May 4, replacing static licenses with cryptographically verifiable assets. This system operates on the OPN chain, which supports over 10,000 transactions per second, facilitating machine-readable data for AI applications. The initiative aligns with a UAE federal directive to automate 50% of government services using agentic AI within two years. The new model decentralizes business registration, allowing for instant verification of corporate credentials and enhancing operational efficiency.
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