Bitcoin Vision: Crypto Majlis of the ruler of Ras Al Khaimah - a new era era

The Forest of Creators in developing technologies for future generations. In a world where some jurisdictions openly persecute cryptocurrency founders for their selfish political purposes, the ambitious emirate of Ras Al Khaimah is radically changing its approach to regulation and demonstrating that governments can and should collaborate with the industry.

The small and flexible emirate boldly steps into the world of Bitcoin and cryptocurrency. Although few have heard of it in this industry so far, soon everything will change.

Ras Al Khaimah is located in the northern part of the United Arab Emirates and enchants with its natural beauty and rich historical heritage. Known for its pristine beaches, reddish-brown deserts, and the highest mountains in the UAE - Jebel Jais, Ras Al Khaimah is a popular destination for those seeking refuge from the bustling business hub of Dubai.

With a history spanning 7,000 years, Ras Al Khaimah is one of the oldest continuously inhabited regions in the world. Today, with a population of just 400,000, the emirate is actively shifting from its traditional focus on tourism, real estate, and manufacturing to become a hub for technological innovation and digital transformation.

This strategic restructuring is being carried out through the establishment of the Oasis Digital Assets Free Trade Zone, a specialized free trade zone created for Bitcoin, Web3, cryptocurrency, and artificial intelligence.

During the official launch of the Oasis Digital Assets Free Zone, His Highness Sheikh Saud bin Saqr Al Qasimi, the ruler of Ras Al Khaimah and the highest advisor of the UAE, convened the Crypto Majlis (a gathering where industry participants discuss the current situation face-to-face), bringing together leading figures from the global crypto industry to discuss the important needs of the rapidly evolving world of Web3 and crypto technologies.

The Majlis meeting was attended by such celebrities as H.E. Gabriel Abed, the Ambassador of Barbados to the UAE, Alex Shekhade, the CEO of Binance, Dominic Williams, the founder and chief scientist of DFINITY, Ming Wu, the CTO of Conflux, Juliet Su, managing partner of NewTribe Capital, Henri Arslanian, co-founder of Nine Blocks Capital Management, Dmitry Kotlyarov, placing special emphasis on the DeXe protocol, and Alexey Hefti, the CEO of eGovern.

The ideas and discussions received at the Majlis meeting will have a decisive impact on shaping the vision and proposals for the newly created free trade zone. During the Majlis, Mr. Dr. Samir El Ansari, the CEO of RAK Digital Assets Oasis, confirmed the emirate's commitment to providing the industry with everything it needs and exceeding its expectations, highlighting Ras Al Khaimah's proactive approach to the digital sector.

For leaders in the crypto and Web3 industries, Majlis has presented a unique opportunity to contribute to the regulatory environment of Ras Al Khaimah and share the needs and challenges of the sector.

The assembly of industrial experts at Crypto Majlis and the establishment of the RAK zone for digital assets Oasis highlight the emirate's commitment to collaboration and innovation in the crypto industry. The emirate is actively building strategic partnerships in various fields and border regions.

It's impressive to see that Ras Al Khaimah, along with Abu Dhabi and Dubai, is supporting Web3 businesses. The impact of this movement extends beyond the national borders of the UAE. As more jurisdictions around the world adopt this progressive stance, the global crypto and Web3 industries stand to gain significantly. This creates more opportunities for business founders and entrepreneurs, not only aiding the growth of existing enterprises but also creating space for new ideas and breakthroughs in the industry.

Already today, Ras Al Khaimah is facilitating the registration of businesses with capital established in bitcoins, Ethereum, and other cryptocurrencies, as well as allowing payments for registration and office rentals in bitcoins. What's next? A government treasury holding bitcoins? Only time will tell what awaits Ras Al Khaimah. However, its rich 7,000-year history indicates that this is a place where innovation and progress are always welcomed, and with the upcoming Bitcoin halving in April 2024, the future of Ras Al Khaimah could become even more prosperous.