A lawyer involved in the development and design of the centre said that the virtual assets enterprise free zone recently announced by Ras Al Khaimah will explore the acceptance of data encryption payments that want to create a business in Dubai.

Irina Schiff, a Dubai login password manager, told Cointelegraph that once Ras Al Khaimah Digital Assets OASIS (RAK DAO) found a suitable partner, it would check that it included BTC (BTC) and other relatively stable data encryption payments for business registration, office rent and specialty services. "after all, eunuchs in big cities in Switzerland have been doing this for years," she points out.

Heaver further explained that there must be appropriate technical regulatory infrastructure for the system to be fully implemented, but responded that "the foundation has already been laid". In addition, the teacher also stressed that he knows that he will explore the operation of full bitcoin and lightning connection points to promote the promotion of data encryption payment. She added:

Work on this area is under way, and we welcome technical partners to add to our journey.

Making its debut in Internet Life 2023, Rak Dao will become a professional free area for digital and virtual asset service providers, involving the illusory world, blockchain technology, utility dynamic passwords, digital currency wallets, NFT, DAOS, Dapp and other Web3 businesses.

Schiffer said a new free zone aims to promote supervised and unregulated themed activities and shows that RAK Dao has explored "establishing the right legal and regulatory packaging for Daos".

Mr Schiffer explains that a new free zone will also be based on "the entire corporate chain in the field of virtual assets". However, other free zones are only applicable in some areas, and the permitted thematic activities are very limited. She added:

I had to set up several physical lines in various jurisdictions. This increases the cost and duration, and the loss outweighs the gain for entrepreneurs. Now, I see a great opportunity for entrepreneurs to open up the market in one place.

Dubai has more than 40 free zones, including the Dubai Center for various products (DMCC) and the Dubai International Investment Center (DIFC).

Because the cost of living and doing business in Cape Haima is 50 per cent lower than in Dubai, Mr Schiffer says Dubai's free zone is undoubtedly "a good start for start-ups".

The lawyer said that government departments will also rely on their own physical lines and connections to help virtual asset service providers (VASP) meet the requirements of financial institutions.