The Republic of Palau and Cryptic Labs are partnering to launch a digital residency program. The Root Name System (RNS) involves the blockchain-based residency and ID system. The goal is to provide future services for Palau’s emerging digital economy.
Cryptic Labs is a blockchain research institute and commercial accelerator. In partnership with the island nation of Palau, Root Name System is a new digital residency program. The Republic uses blockchains and ID systems to support the local economy.
Unlike digital nomad visas, the RNS digital residency program does not grant citizenship. However, the application is open worldwide and ensures access to local services.
The residency program allows access to:
- Blockchain-based legitimate ID
- Advanced residency to worldwide business
- Administration for corporate arrangement and activity.
In addition, clients can acquire a location, transport administrations, and computerized signature-check. Finally, clients will have an ID card and a nonfungible token.
It’s possible to apply for the digital residency by initiating an account.