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. At As of December 31, there were over 1,650 organizations and the ecosystem, comprising the Middle East and North Africa geographic region and its organizations related to Blockchain, Crypto, Metaverse, and Web3, grew faster than expected.
The ecosystem has seen solid growth of 13.8%, while Crypto Oasis is expected to continue its robust growth in the coming months as regulators across the region welcome innovation and disruption, allowing related businesses blockchain to more easily obtain licenses and operate. In the foreground is the Dubai Multi Commodities Center (DMCC), home to over 500 of these native Blockchain organizations, representing the largest concentration of crypto and blockchain businesses in the Middle East and Eastern region. North Africa (MENA).
Crypto Oasis added over 200 new organizations in Q4 2022 which brought over 1,300 new professionals into the burgeoning ecosystem, bringing the total number of people working in this industry to over 8,300. This growth of 19 % of the number of jobs can be attributed to the UAE being a force to be reckoned with in the global blockchain landscape. 78.2% (about 6,500) of these people work in blockchain-native organizations, meaning those that focus on blockchain and related decentralized technologies. 21.8 (about 1,800) percent work for non-native companies, meaning those that offer blockchain-related services or products but do not have blockchain as their primary focus.
Ralf Glabischnig, Founder of Crypto Oasis, said, “We are delighted to have identified these new organizations in our ecosystem that contribute to a diverse community of stakeholders. The possibilities of Web3 technology are vast, from finance and supply chain management to gaming. and social media. However, as it is a relatively new and emerging technology, its full potential has yet to be realized and the industry faces challenges such as scalability, security and user adoption. . This is an exciting and rapidly evolving area to watch and we look forward to collaborating and learning from each other as we work to improve Web3 and decentralized technologies.”
Crypto Oasis helps blockchain and Web3 organizations access resources and expertise that can help them navigate the complex and rapidly changing landscape. Additionally, joining the ecosystem gives them the opportunity to network with potential partners and clients, and showcase their work to a wider audience.
“The UAE is the perfect fusion 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 entities in the world to be active in the metaverse. In 2022, the MoE released its Digital Economy Strategy which aims to double the contribution of the digital economy from 9.7% to 19.4% The creation of regulatory bodies like VARA and various industry events like Abu Dhabi Financial Week and Dubai Fintech Week, as well as the launch of the agenda Dubai Economic Center “D33″, demonstrate the UAE’s commitment to taking an active step towards becoming the center of the digital economy globally.”
The inaugural version of the Crypto Oasis Ecosystem Report 2022, released in partnership with Roland Berger on October 22, identified over 1,450 Web3 organizations in the UAE as of the end of Q3 2022. This report aimed to establish the first quantitative and qualitative study of the Crypto Oasis Ecosystem. Commenting on the ecosystem’s growth, Pierre Samaties, Partner and Global Head of Crypto-Economy and Web3 at Roland Berger, a leading strategy 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 see how much regulators in the region welcome innovation and disruption, making it easier for blockchain-related businesses to license and operate.
The Crypto Oasis ecosystem is dedicated to building and strengthening the infrastructure of decentralized technologies in this region. The ecosystem promotes collaboration and aims to pool resources and expertise to create a more robust and resilient environment to build, create and operate. The Web3 ecosystem serves the needs of all of its members and positively impacts 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 link: https://cryptooasis.ae/ecosystem-report-2022/
About Crypto Oasis
Crypto Oasis is a MENA-focused blockchain ecosystem headquartered in Dubai, United Arab Emirates. The essential elements necessary for its growth are talent, capital and infrastructure. Ecosystem stakeholders include investors and collectors, start-ups and projects, companies, scientific and research institutions, service providers and government entities and associations. Crypto Oasis’ vision is to be one of the leading Blockchain ecosystems in the world. Today, it is the fastest growing Blockchain ecosystem in the world, with over 1,650+ organizations identified in the UAE alone and over 8,300+ people working in the space. Please visit www.cryptooasis.ae.
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