On December 20, 2024, Sign, a company known for its innovations in blockchain technology, announced a strategic partnership with Cypher Capital and Ras Al Khaimah Digital Assets Oasis (RAK DAO) to launch the SignPass Web3 Entrepreneur Program. This initiative is designed to attract top talent in the Web3 space to the UAE, particularly to RAK DAO, one of the world's first free zones dedicated to digital and virtual assets.
The program offers successful applicants a 10-year long-term residency in the UAE, providing them with various benefits. These include opportunities for their children to attend international schools, access to medical insurance, and the ability to open personal bank accounts. This move is seen as a significant step towards making the UAE, and specifically Ras Al Khaimah, a hub for Web3 innovation.
SignPass holders are particularly favored in this initiative, enjoying perks like waived application fees and a VIP onboarding service, which not only simplifies but also enhances their experience moving to the UAE.
This isn't Sign's first venture into integrating blockchain with governmental functions. Previously, they worked with the Sierra Leone Immigration Office to introduce Africa's first onchain verifiable physical ID. Through this collaboration, they provided a system where applicants could receive physical permanent residency cards whose authenticity could be verified using Sign Protocol. The SignPass system, a key component of Sign's services, has already served hundreds with its convenience and is set to integrate further into Sign's broader application ecosystem in the coming year.
Looking forward, the goal of the SignPass Web3 Entrepreneur Program is not only to draw more talent to the UAE but also to foster the growth of the Web3 industry within RAK DAO. Sign plans to collaborate closely with the Ras Al Khaimah government to streamline administrative processes using blockchain technology, particularly focusing on identity and business verification systems. This partnership aims to make Web3 technologies more accessible and understandable to a wider audience, starting in the UAE.
Sign's initiative is backed by notable investors such as Sequoia, Circle, and Balaji Srinivasan, highlighting the program's significance in the global tech and investment landscape. This collaboration is poised to push the boundaries of what's possible in decentralized technologies, setting a new standard for innovation in the region.