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Innovation City, an AI-powered escaped portion successful Ras Al Khaimah, has launched a blockchain-based integer concern individuality strategy to regenerate accepted and static concern licenses with “living,” cryptographically verifiable assets connected the OPN chain.
Key Takeaways:
- Innovation City launched an onchain individuality strategy connected May 4 to regenerate static PDF concern licenses.
- IOPn’s OPN concatenation supports 10,000+ TPS to supply the machine-readable information required for Agentic AI.
- Within 2 years, 50% of the UAE national sectors volition usage these integer assets to automate authorities services.
A Shift From Static Paper to Living Assets
Innovation City, the United Arab Emirates (UAE)’s artificial quality (AI)-focused escaped zone, announced connected May 4 the motorboat of a blockchain-based integer concern individuality system. The caller system, which efficaciously replaces accepted insubstantial and PDF licenses with cryptographically verifiable integer assets, is powered by the OPN concatenation and provides each registered institution with a “living” integer identity.
Officials said the displacement moves concern registration distant from centralized authorities databases toward a decentralized exemplary that allows for instant, immutable verification of firm credentials. According to a media statement, the rollout aligns with a caller UAE national directive to modulation 50% of authorities services and operations to agentic AI wrong 2 years.
By placing concern identities connected a blockchain, Innovation City provides the machine-readable infrastructure indispensable for AI agents to process permits, compliance checks, and taxation autonomously.
“Today we don’t conscionable registry companies, we springiness them a psyche connected the blockchain,” said Paul Dawalibi, CEO of Innovation City. “For decades concern individuality has been trapped successful paper, PDFs, and fragile databases. We are ending that era.”
Dawalibi noted that the determination is intended to destruct the “verification uncertainty” that often slows down cross-border commercialized and organization interactions.
The exertion down the initiative, developed by IOPN, is an Ethereum Virtual Machine ( EVM) compatible Layer 1 blockchain. It boasts speeds of implicit 10,000 transactions per 2nd with sub-second finality, according to the company.
Mojtaba Asadian, CEO of IOPN, described the OPN concatenation arsenic the “sovereign infrastructure layer” for the UAE’s emerging AI economy.
“The aboriginal of endeavor is not centralized databases oregon fragmented systems,” Asadian said. “It is sovereign, verifiable, and live on-chain.”
The escaped portion listed respective contiguous benefits for registered enterprises, including curbing papers forgery and the enactment of opaque ammunition companies. It besides enables banks and regulators to verify a company’s lasting successful seconds alternatively than weeks. The integer identities are besides designed to question crossed antithetic platforms and planetary borders.
Innovation City officials stated that the modulation is not simply a method upgrade but a “complete re-architecture” of firm existence. They argued that arsenic AI integration becomes modular crossed the Middle East, a blockchain-based individuality volition go “table stakes” for immoderate institution wishing to enactment successful frictionless planetary commerce.
Located successful Ras Al Khaimah, Innovation City has positioned itself arsenic a superior hub for emerging technologies, specifically targeting the intersection of artificial quality and decentralized finance.
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