UAE Innovation City launches blockchain IDs for companies

UAE Innovation City in Ras Al Khaimah has launched blockchain IDs for registered companies, issuing each business a sovereign, verifiable on-chain identity through OPN Chain infrastructure. The goal is to replace static license records (often stored as PDFs or registry entries) with persistent, cryptographically secured credentials that can be continuously audited. Officials say the blockchain IDs capture ownership changes, compliance updates and verification activity. This is expected to cut document fraud and reduce delays from manual checks by banks and regulators. The rollout also supports the UAE plan to move 50% of government services to agent-based AI within two years, where reliable digital identity is needed for licensing, compliance, taxation and cross-border interactions. Technical details describe an EVM-compatible Layer 1 blockchain with 10,000+ TPS and sub-second finality, plus cross-border interoperability so third parties can verify credentials without relying on centralized databases. Innovation City also suggests firms may get faster access to digital government services as adoption grows, though it did not name specific banks or regulators that currently accept the identities. For crypto traders, this is a real-world blockchain identity use case rather than a token launch. Market impact is likely neutral in the short term because no specific tradable crypto asset is referenced, but it reinforces UAE momentum toward on-chain credentials and AI-ready governance that could support longer-term enterprise blockchain demand.