Dubai – (NewMediaWire) – January 20, 2023 – (ACN Newswire) – Crypto Oasis, the fastest growing Blockchain ecosystem in the world, has surpassed its goal of identifying 1,500 organizations in the ecosystem by the end of 2022. As of December 31, there were more than 1,650 organization and ecosystem, consisting of the Middle East and North Africa geographic region and its Blockchain, Crypto, Metaverse and Web3 related organizations, is growing faster than previously expected.
The ecosystem witnessed a strong growth of 13.8%, while Crypto Oasis is expected to continue strong growth in the coming months, as regulators in the region welcome innovation and disruption, making it easier for blockchain-related companies to secure licenses and operate. At the forefront of this is the Dubai Multi Commodities Center (DMCC) which is home to more than 500 of these domestic Blockchain organizations, representing the largest concentration of crypto and blockchain companies in the Middle East and North Africa (MENA) region.
Crypto Oasis added 200+ new organizations in Q4 2022 bringing 1,300+ new professionals to the growing ecosystem, bringing the total number of individuals working in the industry to 8,300+. This 19% headcount growth can be attributed to the UAE being a force to be reckoned with in the global Blockchain landscape. 78.2% (approximately 6,500) of these individuals work in domestic blockchain organizations, i.e. those focused on blockchain and related decentralized technologies. 21.8 (approx. 1,800) percent work for foreign companies, i.e. those that offer blockchain-related services or products, but blockchain is not their primary focus.
Ralf Glabischnig, founder of Crypto Oasis, stated: “We are thrilled to have identified these new organizations in our ecosystem that contribute to a diverse community of stakeholders. The opportunities for Web3 technology are huge, from finance and supply chain management to gaming and social media. However, future that it is a relatively new emerging technology, its full potential has not yet been reached and the industry faces challenges such as scalability, security and user acceptance. It is an exciting and rapidly developing field to watch and we are eager to collaborate and learn from each other as we work to improve Web3 and decentralized technologies.”
Crypto Oasis supports blockchain and Web3 organizations to access resources and expertise that can help them navigate a complex and rapidly evolving landscape. In addition, joining the ecosystem gives them the opportunity to network with potential partners and customers and to showcase their work to a wider audience.
“The UAE is the perfect combination of talent and capital built on world-class infrastructure,” said Saqr Ereiqat, Co-Founder of Crypto Oasis. “The Ministry of Economy (MoE) has become one of the first government bodies in the world to be active in the metaverse. The Ministry of Economy has published its Digital Economy Strategy in 2022, which aims to double the contribution of the digital economy from 9.7% to 19.4% in the next decade. The launch of regulators like VARA and various industry events like Abu Dhabi Finance Week and Dubai Fintech Week, as well as the launch of the Dubai Economic Agenda “D33″, demonstrate the UAE’s commitment to taking an active step towards becoming the center of the digital economy globally.”
The first version of the Crypto Oasis Ecosystem Report 2022, published in partnership with Roland Berger on October 22, identified 1,450+ Web3 organizations in the UAE by the end of the third quarter of 2022. This report aimed to establish the first quantitative and qualitative study of the Crypto Oasis Ecosystem . Commenting on the growth of the ecosystem, Pierre Samates, Partner and Global Head of Crypto Economy and Web3 at Roland Berger, a leading strategic consulting firm, said: “The UAE is uniquely positioned to play a leading role in the global innovation economy. The growth of the Crypto Oasis ecosystem will continue in the coming months as we can already witness regulators in the region welcoming innovation and disruption, making it easier for Blockchain-related companies to secure licenses and operate.”
The Crypto Oasis ecosystem is dedicated to building and strengthening the infrastructure for decentralized technologies in this region. The ecosystem encourages collaboration and aims to pool resources and expertise to create a more robust and resilient environment for building, creating and working. The Web3 ecosystem serves the needs of all its members and has a positive impact on the wider community by helping to drive innovation related to decentralized technology. New members of the ecosystem will have the opportunity to contribute to this effort and shape the direction of Web3 development in our region.
Report a connection: https://cryptooasis.ae/ecosystem-report-2022/
About The Crypto Oasis
Crypto Oasis is a MENA focused Blockchain ecosystem based in Dubai, UAE. The key elements needed for its growth are talent, capital and infrastructure. Ecosystem stakeholders include investors and collectors, start-ups and projects, corporations, scientific and research institutions, service providers, and government entities and associations. The vision of Crypto Oasis is to be one of the leading Blockchain ecosystems in the world. Today, it is the fastest growing Blockchain ecosystem in the world, with more than 1,650+ organizations identified in the UAE alone with more than 8,300+ individuals working in the space. Visit www.cryptooasis.ae.
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