The Republic of Palau launches the program "Digital Residency" – Bits Media

The small Pacific state of the Republic of Palau announced partnership with Cryptic Labs and the launch of Root Name System (RNS) - system of "digital residency" based on blockchain.

Within the framework of this program, everyone will be able to receive a personality certificate for Blockchain base, the status of a resident of the Palau and the jurisdiction independent of the geographical location. I.e, Entrepreneurs around the world will be able to create companies and firms in the jurisdiction of Palau. Also "digital residents" will be able to get a mailing address, Delivery services and checking digital signature.

“Our digital residency program will use the standards of personality verification recognized by the international community, to guarantee, that Palau supports the rule of law and its reputation. We invite all citizens of the world to apply for participation in the Palau digital residency program ", -noted the President of the Republic of Suranhel Wipps Jr. (Surangel s. Whipps Jr.).

In this case, the RNS system will support the distinction between the rights to access data. Each participant in the "digital residency" will be able to choose those personal data, which he is ready to share with others. After the approval of participation in the program, the user will receive a physical certificate of personality, as well as a digital version in the form of an inconsistent token (NFT).

At the end of November last year, it was reported, that the Palau authorities have concluded an agreement with the American company Ripple, in which the state stablecoin will be developed.