The Republic of Palau has teamed up with blockchain development firm Cryptic Labs in order to digitally educate the residents of the nation. The government of Palau has rolled out a digital residency program called Root Name System (RNS).The RNS will provide people a blockchain-based legal ID and a digital residency to open access to global business opportunities. The RNS will also allow people to control how much information about themselves they wish to share with others via their IDs that will be issued physically, as well as in the forms of non-fungible tokens (NFTs).
The President of Palau, Surangel Whipps Jr., has signed an agreement to grant “all global users” digital residency through the RNS.
“Our Digital Residency Program will have capacity for internationally recognized standards of identity verification to ensure that Palau upholds the rule of law and our reputational integrity. We welcome all global citizens to apply to participate in Palau’s digital residency programme,” aby CoinTelegraph quoted the President as saying.
Digital residency applicants can create an account and pay via their credit card or using,
This is not the first time that the Republic of Palau has adopted an approach favoring the crypto space.
In November 2021, the Republic of Palauwith San Francisco-headquartered crypto solutions provider Ripple to explore the creation of its national digital currency.
According toat the time, if Palau gets a national digital currency, authorities there are open to experimenting with its use cases on decentralized public blockchain called (XPRL).
Palau is a country consisting approximately 340 islands, forming the western chain of the Caroline Islands located in the Pacific Ocean.
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