The Pacific island nation of Palau and blockchain development company Cryptic Labs announced the launch of the Root Name System (RNS) digital residency program on Tuesday.

It appears that the digital residency program provides blockchain-based legal identity, digital residency to help access global business opportunities and help remote companies form and operate. It also allows users to obtain addresses, shipping services, and digital signature verification. In addition, the RNS digital residence program has end-to-end encryption, and users have control over sharing location and ID data. Once approved, users will receive a physical ID and an ID in the form of an NFT. According to the data, the digital residency program marks the Republic of Palau’s second major foray into blockchain applications.

As previously reported, the Republic of Palau has announced a partnership with Ripple to develop an eco-friendly digital currency to assist in cross-border payments.