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RAK Digital Assets Oasis (RAK DAO), the world's first and only Free Zone with Common Law features dedicated to digital assets companies, is gearing up for its one-year anniversary by hosting the RAK DAO 2024 Conference next week at the Al Hamra International Exhibition and Convention Center in Ras Al Khaimah. 

The event will bring together international industry leaders to explore blockchain, Web3, and innovations that are shaping the digital economy. 

Ahead of the conference, The Byteline caught up with Luc Froehlich, Chief Commercial Officer at RAK DAO, at the GITEX 2024 Future Blockchain Summit on Monday in Dubai.

Q: Explain the journey and vision of RAK DAO

A: The journey at RAK DAO is converging towards one goal: to become a global leader in the blockchain and digital asset ecosystem. This means we're focusing on the people we bring into our team and the companies we're attracting, specifically digital companies.

I come from a traditional finance background with 20 years of experience in financial services, including roles at banks and asset managers.

For the past decade, I've been focused on blockchain and digital assets, working as an advisor in the tokenization space, conducting research with the World Economic Forum on distributed ledger technology in capital markets, and setting up digital asset businesses at Fidelity.

The team I want to build consists of people who are well-versed in this space, able to engage with digital native companies.

Additionally, we're selecting specialized partners who can meet the specific needs of digital asset companies, such as tax assistance and relocation services.

In the past year, RAK DAO has emerged as a global center for digital assets, forging alliances with over 40 regional and international entities, including Tether Edu, Tencent Cloud, Ibenera, and Avalanche, alongside numerous L1 blockchains and essential service providers like banks and legal professionals. What can we anticipate at this year's RAK DAO event?

At the upcoming conference, we'll share more about our work with DAOs and how we can support their unique needs, like governance frameworks and token economics. We're building an ecosystem of partners to address these needs, both internally and externally.

The next level of specialization involves launching licenses targeting specific elements of the digital ecosystem, such as protocol layers and non-custodial wallets. Our projects will focus on specialized aspects of the digital asset space.

What inspired you to opt for RAK as the base for your operations?

In terms of location, Ras Al Khaimah offers a quieter, more affordable alternative to Dubai, with all the necessary infrastructure for business development without the noise and high property prices. It's also a very pleasant place to live with more nature than Dubai.

RAK DAO is targeting companies that operate in non-regulated services, focusing on the technology itself rather than regulated financial services. This approach aligns with the ruler of RAK's vision to foster innovation and openness.

Our upcoming conference is just the beginning. We'll use events like this to attract talent and showcase what RAK has to offer. Expect more initiatives like accelerators and hackathons to provide opportunities for technology experimentation and innovation within our ecosystem.

The RAK DAO 2024 Conference happens on October 25 at the Al Hamra International Exhibition and Convention Center in Ras Al Khaimah 

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