The Republic of Palau And Cryptic Labs Jointly Launch Program Of Digital Residency

Gaurav Roy

The Republic of Palau has formed a partnership with Cryptic Labs for digitally educating the residents of the country.

Dubbed as Root Name System (RNS), the program will provide individuals with a blockchain-based legal ID and a digital residency to open access to global business opportunities. 

In addition, the program will also allow people to control the information they wish to share about themselves with others via NFTs or their Ids that will be issued physically.

To launch the partnership program between Palau and the blockchain development company Cryptic Labs, the country’s President Surangel S. Whipps Jr. signed an agreement to grant “all global users” digital residency through the RNS under the country’s Digital Residency Act.

“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 program,” said the president.

With the help of RNS, the digital residency program will allow users to control how much information they want to share with others. On approval, users will get an NFT ID along with a physical ID card.

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