RAK DAO chief commercial officer Luc Froehlich warned that unclear regulations and enforcement-led policies in some countries are driving away blockchain talent, creating opportunities for regions like the UAE to attract global innovators.
At the Future Blockchain Summit in Dubai, Froehlich spoke about the Ras Al Khaimah Digital Assets Oasis (RAK DAO) and its mission to foster a supportive environment for digital assets and crypto businesses.
RAK DAO’s Strategy for Innovation and Growth
The UAE’s Ras Al Khaimah free zone offers more than just licensing, according to Froehlich. It aims to actively assist businesses in growing and building partnerships to help them thrive.
“The objective is not just to sell licenses and say, ‘Good luck.’ It’s about partnering with businesses, helping them grow, and identifying collaborators who can contribute to their development,” said Froehlich.
He added that the free zone is working toward becoming a hub of convergence for various players in the crypto space, providing a platform where innovators can gather, share ideas, and create meaningful projects.
How Regulatory Policies Impact Talent Mobility
Drawing from his experience working in Hong Kong, Froehlich noted that talented professionals from mainland China face restrictions that limit their participation in blockchain development. He also pointed out that Europe poses challenges for crypto projects, creating hurdles for innovators.
Froehlich highlighted the significant exodus of talent from the U.S., attributing it to the country’s regulatory approach that relies heavily on enforcement rather than clear policy.
“We need clarity in regulations—it can’t be driven by enforcement. What’s happening in the U.S. has pushed away talent, setting the industry back by several years,” he stated.
UAE’s Competitive Edge in Attracting Global Crypto Talent
Despite the challenges in other parts of the world, Froehlich believes that these difficulties offer a strategic advantage for the UAE. With an emphasis on clear regulations and support for businesses, the UAE aims to become a global hub for blockchain innovation and talent.
