Palau Pioneers Digital Residency IDs on Solana Blockchain

The Pacific island nation of Palau is expanding its collaboration with the decentralized identity protocol RNS.ID by introducing digital residency IDs (DIDs) on the Solana blockchain.

This development was announced by RNS.ID on Twitter, marking a significant milestone as Palau becomes the first sovereign nation to issue legal identities on Solana. Palau initiated its digital residency program in 2022, allowing global citizens to obtain residency without the requirement of physical presence. The nation issued its first Legal DID on Ethereum in September 2023, with Ethereum co-founder Vitalik Buterin present for the event. Through the RNS.ID platform, users can apply for a Palau digital residence card for $248. These residencies offer benefits such as visa extensions up to 180 days and anonymity for using cryptocurrency exchanges that might otherwise be inaccessible due to geographic restrictions.

The Palau government ensures all applicants undergo a vetting process, including anti-money laundering and identity verification checks, which can take up to 10 days. Since September 2023, RNS.ID has issued 7,338 digital residencies. Decentralized identity systems are considered among the most promising blockchain applications, with far-reaching implications. In May, MicroStrategy, known for its Bitcoin (BTC) accumulation strategy, announced it is developing a decentralized identity system based on Ordinals-like inscriptions. Similarly, Shiba Inu developers are working on their own digital identity systems.

Worldcoin, another key player in decentralized identity, boasts involvement from OpenAI CEO Sam Altman. In February, Worldcoin revealed a solution for its World ID to verify e-sport players' identities. Developed in partnership with Community Gaming, this initiative allows tournament participants to prove their personhood by scanning their irises with a device known as the Orb.