United Arab Emirates Region Ras Al Khaimah Launches a Framework for Decentralized Autonomous Organizations (DAO) in Free Zone
In a recent statement, Luc Froehlich, the chief commercial officer of RAK DAO, announced the launch of DARe, a new legal framework designed to enhance the blockchain and digital assets ecosystem. This development is seen as a significant milestone in the company’s efforts to establish itself as a global hub for blockchain innovation.
According to Froehlich, the introduction of DARe will provide a structured legal framework that will allow decentralized autonomous organizations (DAOs) to engage with the traditional financial system. This includes activities such as opening bank accounts and owning assets both on and off the blockchain.
By offering this legal structure, RAK DAO aims to facilitate greater integration between blockchain-based technologies and the wider economy. This move is expected to attract more participants to the blockchain ecosystem and drive further innovation in the space.
Overall, the introduction of DARe is a positive step towards creating a more robust and inclusive environment for blockchain and digital assets. With this new framework in place, RAK DAO is well-positioned to play a key role in shaping the future of decentralized finance and blockchain technology.
