A defining leap toward an AI-native economy, positioning Ras Al Khaimah and the UAE at the forefront of global innovation and delivering a key prerequisite for the nation’s agentic AI government revolution
UAE Innovation City Launches the World’s First Blockchain-Based Digital Business Identity, Powered by IOPn
RAS AL KHAIMAH, UNITED ARAB EMIRATES -May 4th, 2026: Today, Innovation City, the UAE’s premier AI-powered free zone in Ras Al Khaimah, announces the launch of the world’s first blockchain-based digital business identity system. Every company registered here now receives a sovereign, living, cryptographically verifiable identity powered by IOPn’s native layer on blockchain, OPN chain.
This is not an upgrade. This is a complete re-architecture of how businesses exist, prove themselves, and interact in the 21st century.
For the first time in history, a business license is no longer a static PDF or a line in a government database. It is a dynamic, immutable, soul bound digital asset; removing reliance on centralized intermediaries and drastically reducing verification uncertainty.
In alignment with the UAE’s national strategic imperative.
The timing is no coincidence. The UAE government has just announced its bold directive to transition 50% of federal government sectors, services, and operations to Agentic AI within two years. For those intelligent agents to autonomously process licenses, permits, compliance checks, taxation, and cross-border interactions at machine speed.
Innovation City has delivered it.
“Today we don’t just register companies, we give them a soul on the blockchain,” said Paul Dawalibi, CEO of Innovation City. “For decades business identity has been trapped in paper, PDFs, and fragile databases – slow, opaque, and built for a world that no longer exists. We are ending that era. Every enterprise in Innovation City now carries a living, verifiable digital identity that travels with it across borders, platforms, and straight into the age of intelligent agents. Ras Al Khaimah isn’t following the future. We are writing it. One more thing: the companies that claim their place on this chain today will lead the global economy tomorrow. Everyone else will be explaining why they’re still using yesterday’s tools.”
Mojtaba Asadian, CEO of IOPn, added: “IOPn is the sovereign infrastructure layer enabling the UAE’s agentic AI economy, starting with business identity and built to scale across jurisdictions, institutions, and sectors. Cryptographically secure. Evolving. Interoperable. Compliant. When Innovation City chose OPN Chain to power the world’s first on-chain business identities, they didn’t just pick a technology – they chose the infrastructure of digital sovereignty. Together, we are proving that the future of enterprise is not centralized databases or fragmented systems. It is sovereign, verifiable, and alive on-chain.”
Why this matters; now and forever
● Radical transparency & auditability: Every ownership change, compliance update, and verification is permanently recorded and publicly auditable.
● Instant, trustless verification: Banks, regulators, investors, and AI agents can confirm authenticity in seconds – not days or weeks.
● Fraud reduction: Significantly reduces the risk of document fraud, beneficial ownership and shell company formation.
● AI-native readiness: This is the exact infrastructure required for Agentic AI to operate at government scale. Without it, autonomous systems cannot safely or reliably interact with businesses.
● Global interoperability: Built on a high-performance, EVM-compatible Layer 1 (10,000+ TPS, sub-second finality).
● Long-term competitive advantage: Companies that secure their digital business identity with Innovation City today position themselves for preferential access to AI-powered government services, faster integrations with global partners and institutions, enhanced trust, credibility, operational efficiency, and frictionless participation in the emerging global digital economy. This is not a nice-to-have. It is rapidly becoming table stakes.
Innovation City has once again proven why it is the most forward-looking free zone in the UAE. While others promise digital transformation, Innovation City is delivering digital sovereignty and a new global standard. While others prepare for AI, Innovation City is building the verifiable identity layer that makes AI government possible.
This is the moment business identity stops being an administrative burden and becomes a strategic superpower.
The future of commerce has a new address.
It starts in Innovation City.
ENDS
About Innovation City Innovation City is the UAE’s groundbreaking AI-powered free zone based in Ras Al Khaimah, purpose-built for the industries of tomorrow – Web3, artificial intelligence, gaming, robotics, healthtech, and beyond. Under the leadership of CEO Paul Dawalibi, it has become the region’s most ambitious ecosystem for founders who refuse to accept yesterday’s rules.
About IOPn IOPn is the architect of the Internet of People, a sovereign infrastructure stack converging high-performance blockchain (OPN Chain), AI, and protocol-level digital identity (Neo ID). Headquartered in the UAE, IOPn delivers the foundational technology for digital sovereignty, real-world asset tokenization, and human-centric innovation at global scale. Learn more at chain.iopn.io.
About Ras Al Khaimah
Ras Al Khaimah (RAK), the UAE’s fourth largest Emirate, is defined by its natural beauty, rich heritage and forward-looking vision under HH Sheikh Saud bin Saqr Al Qasimi. Committed to sustainable growth, economic diversification and innovation, RAK is an attractive place to live, work and invest. Strategically located within four hours of one third of the world’s population, RAK serves as a gateway to the Middle East and beyond. Its diversified economy sees no sector contribute more than 27% of GDP. The Emirate offers a competitive, business-friendly environment with 100% foreign ownership, zero income tax and low corporate tax. Home to over 50,000 companies, supported by RAKEZ and Innovation City, RAK has held strong ‘A’ range credit ratings since 2008. With a population of 0.4 million representing over 150 nationalities, RAK combines high quality of life with accessible luxury. Landmark hospitality projects in the pipeline include Wynn, Four Seasons and Nobu, added to the existing Waldorf Astoria and Ritz-Carlton, while RAK Central will redefine its commercial and residential landscape. Year-round sunshine, competitive living costs and a dynamic lifestyle position Ras Al Khaimah as a land of opportunity.
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This press release contains forward-looking statements.