Cryptocurrency

Cryptic Labs and Palau Unveil World's First Digital Residency Using Blockchain – TheStreet


In January, the West Pacific island nation of Palau launched the world’s first digital residency program using blockchain, underscoring its desire to create a new borderless financial hub relying on crypto and blockchain technology.

Through a partnership with Palo Alto-based blockchain developers Cryptic Labs, Palau is launching the Root Name System (RNS), a digital residency program open to anyone in the world. Calling itself a “gateway to the borderless financial world,” the program gives approved users digital resident ID cards in the form of non-fungible tokens (NFT), allowing them to receive benefits in Palau’s new digital-first economy, which will offer services like physical addresses and shipping. 



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