The Republic of Palau and blockchain development firm Cryptic Labs announced the launch of the Root Name System (RNS), a digital residency program on Tuesday.
To inaugurate the partnership between Palau, Cryptic Labs and the sovereign-backed digital residency program, Palau’s President Surangel S. Whipps Jr. signed an agreement to grant “all global users” digital residency through the RNS under the country’s Digital Residency Act.
The Republic of Palau is located in the western Pacific Ocean and consists of about 340 islands inhabited by 18,221 residents. President Whipps said:
“Our Digital Residency Program will have capacity for internationally recognized standards of identity verification to ensure that Palau upholds the rule of law and our reputational integrity. We welcome all global citizens to apply to participate in Palau’s digital residency program.”