RAK DAO Forge has entered into a strategic partnership with Conflux Network to drive blockchain innovation in the Middle East.
quick take
The strategic partnership between Conflux Network and RAK Digital Assets Oasis marks a pivotal advancement in blockchain development in the Middle East region. Combining Conflux’s technological capabilities with RAK DAO’s innovative ecosystem, the alliance promises to foster innovation, education and business growth in the blockchain sector, potentially transforming the region’s digital landscape.
Conflux Network and RAK DAO Drive Blockchain Innovation and Digital Asset Development Across the Middle East
RAK Digital Asset Oasis (RAK DAO)an innovative initiative led by the Government of Ras Al Khaimah, has announced a groundbreaking partnership with: Conflux NetworkA leading developer of layer 1 blockchain networks.
This cooperation marks a milestone in the blockchain industry and represents important progress in the integration and advancement of blockchain and digital asset development across borders.
Recognized as a permissionless layer 1 blockchain that promotes a decentralized economy across borders and protocols, Conflux Network recently transitioned to a hybrid proof-of-work/proof-of-stake consensus. This upgrade improves the network’s speed, security, scalability, and congestion management, ensuring lower transaction fees and improved security.
In particular, Conflux is the only regulated public blockchain in China, providing a unique advantage for projects looking to enter or expand into Asian markets. Previous collaborations with major brands and government agencies, including the City of Shanghai, McDonald’s China, and Oreo, highlight its pivotal role in blockchain and metaverse initiatives.
On the other hand, RAK DAO, established by the UAE government of Ras Al Khaimah under Law No. 2 of 2023, aims to promote the growth of digital assets and blockchain technology in the region. RAK DAO is establishing itself as a key hub for digital innovation and entrepreneurship through its progressive policies and supporting ecosystem.
The Memorandum of Understanding (MOU) signed between Conflux Network and RAK DAO outlines a comprehensive partnership that includes technical exchange and collaboration, joint initiatives for incubating innovative projects, strategic support to establish a Middle East presence, and local financial and technical support. . Companies embracing digitalization and Web3 technology.
The partnership is expected to bring several benefits, including accelerating blockchain technology innovation, providing training and development opportunities, and enriching business prospects for startups and enterprises in the region. By combining RAK DAO’s strategic position and facilitation role with Conflux Network’s technical expertise, the partnership is poised to drive significant advancements in the blockchain sector.
According to Dora Jiang, Global Head of BD at Conflux, the collaboration with RAK DAO demonstrates Conflux’s commitment to strengthening blockchain infrastructure and driving global adoption of Web3 technology. Jiang expressed his passion for empowering businesses and entrepreneurs in Ras Al Khaimah and beyond by leveraging his expertise and resources to shape the future of blockchain and digital assets in the region.
This partnership not only represents a leap forward for the Middle East blockchain industry, but also highlights the growing awareness of blockchain’s potential in a variety of fields. As Conflux Network and RAK DAO embark on this journey, their efforts could pave the way for more substantial advancements in digital assets and blockchain technology, setting a precedent for future collaborations in the Web3 space.
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