Innovation City in Ras Al Khaimah has introduced a blockchain-powered digital identity system for all registered companies. Each business now receives a cryptographically secured identity on the OPN Chain, transforming static licenses into dynamic digital records. This initiative replaces traditional paper-based and centralized registry systems with verifiable on-chain assets that can be audited continuously for ownership, compliance, and activity updates.
Paul Dawalibi, CEO of Innovation City, stated that businesses are now given a digital soul on the blockchain, enabling them to carry a verifiable identity across different platforms and jurisdictions. The system aims to reduce document fraud and eliminate delays associated with manual verification by banks, regulators, and other institutions.
The rollout aligns with the UAE’s plan to transition 50% of federal services to agent-based artificial intelligence within two years. Such AI systems depend on reliable digital identity infrastructure to handle licensing, compliance, taxation, and cross-border interactions without human intervention. Mojtaba Asadian, CEO of IOPn, emphasized that this is a sovereign infrastructure layer for the UAE’s agentic AI economy, starting with business identity and scalable across sectors and institutions.
The technical foundation is an EVM-compatible Layer 1 blockchain capable of processing over 10,000 transactions per second with sub-second finality. It is designed for cross-border interoperability, allowing third parties to verify business credentials without relying on centralized databases. Companies adopting this system may gain quicker access to digital government services and partner integrations as adoption grows.
While officials did not specify which banks or regulators currently accept these on-chain identities, the system is part of a broader national strategy. Sheikh Mohammed bin Rashid Al Maktoum noted that AI will analyze, decide, execute, and improve in real time, becoming an executive partner to enhance services and efficiency. The program also includes training government employees in generative AI to ensure readiness for autonomous public service delivery.