President Surangel Whipps Jr. said that most Palau digital residents are from China, the United States and Canada.
Whipps in an interview with CoinsTelegram last week, he said that Palau has issued over 10,000 digital residents ID cards since the Digital Residency Program was started last year.
“So right now it’s from 55 different countries, so I think the most are from China, US and Canada,” Whipps said,
He added that there are also other digital residents from Latvia and Ukraine.
President Whipps said he always believes in embracing new technologies thus, the government has embarked on the digital residency program,.
“ So, innovation is key, and we shouldn’t fear technology, and I think sometimes we are afraid. think in the crypto space there is a lot of fear, but we got to take one step at a time, and that is what we are doing here,’ he said.
Another technology it has embraced was Vitalyk Buterin, co-founder of Ethereum, who minted the first sovereign-backed legal Digital ID.
Whipps, in that ceremony, said any government should not restrict the trading of crypto.
“We believe technology offers immense potential … ensuring every individual, no matter where they are, has access to opportunities, to financial systems, and to a global community that respects and values them,” President Whipps said,
Minting of Palau Decentralized ID (DID) will involve digital residents providing their existing legal ID. The ID is then converted into a digital format and minted on the Ethereum blockchain.