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Dubai-(New Media Express) – Jan 20, 2023 – (ACN Newswire) – Crypto Oasis, the fastest growing blockchain ecosystem in the world, aims to identify 1,500 organizations in the ecosystem by the end of 2022. As of December 31, there are more than 1,650 organizations and ecosystems, including the MENA geographic region and their blockchain, cryptocurrency, Metaverse and Web3 related organizations, growth rate exceeded previous expectations.
The ecosystem saw strong growth of 13.8%, and Crypto Oasis is expected to continue its strong growth in the coming months, as regulators in the region welcome innovation and disruption, making it easier for blockchain-related companies to license and operate. At the forefront is the Dubai Multi Commodities Center (DMCC), home to over 500 local blockchain organisations, representing the largest concentration of cryptocurrency and blockchain companies in the Middle East and North Africa (MENA) region.
Crypto Oasis added over 200 new organizations in Q4 2022, bringing over 1,300 new professionals to this burgeoning ecosystem, bringing the total number of people working in the industry to over 8,300. The 19% increase in employment can be attributed to the UAE becoming a force to be reckoned with in the global blockchain space. 78.2% of these people, or about 6,500 people, work in local blockchain organisations, i.e. those focused on blockchain and related decentralized technologies. 21.8% (approximately 1,800%) work for non-native companies, i.e. those that provide blockchain-related services or products but do not have blockchain as their main focus.
Ralf Glabischnig, Founder of Crypto Oasis, said: “We are delighted to discover these new organizations in our ecosystem that are contributing to a diverse community of stakeholders. The possibilities of Web3 technology are enormous, ranging from financial and Supply chain management to gaming and social media. However, as it is a relatively new emerging technology that has yet to reach its full potential, the industry is facing challenges such as scalability, security and user adoption. It is an exciting Exciting and fast-moving field to watch and watch, 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 with access to resources and expertise to help them navigate a complex and rapidly evolving environment. Additionally, joining the ecosystem gives them the opportunity to network with potential partners and clients, as well as showcase their work to a wider audience.
“The UAE is the perfect blend 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 One. In 2022, the Ministry of Economy released its Digital Economy Strategy, aiming to double the contribution of the digital economy from 9.7% to 19.4% over the next ten years. The establishment of regulators such as VARA and the establishment of Abu Dhabi Various industry events such as Finance Week and Dubai Fintech Week, as well as the launch of the Dubai Economic Agenda ‘D33’, demonstrate the UAE’s commitment to take positive steps to become the center of the global digital economy.”
The first edition of the Crypto Oasis Ecosystem Report 2022, published in partnership with Roland Berger in October 2022, identified more than 1,450 Web3 organizations in the UAE by the end of Q3 2022. The report aims to build the first oasis ecosystem of quantitative and qualitative research on cryptocurrencies. Commenting on the development of the ecosystem, Pierre Samaties, Partner and Global Head of Crypto Economy and Web3 at top strategic consulting firm Roland Berger 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 regulators in the region welcome innovation and disruption, making it easier for blockchain-related companies to license and operate. “
The Crypto Oasis ecosystem is dedicated to building and strengthening the infrastructure for decentralized technology in the region. The ecosystem fosters collaboration and aims to pool resources and expertise to create a stronger and more resilient environment to build, create and operate. The Web3 ecosystem addresses the needs of all its members and positively impacts the wider community by helping drive innovation related to decentralized technologies. New members of the ecosystem will have the opportunity to contribute to this work and shape the direction of Web3 in our region.
report link: https://cryptooasis.ae/ecosystem-report-2022/
About Crypto Oasis
Crypto Oasis is a blockchain ecosystem focused on the Middle East and North Africa region, headquartered in Dubai, UAE. The core elements needed for its growth are talents, capital and infrastructure. Ecosystem stakeholders include investors and collectors, start-ups and projects, corporations, scientific research institutions, service providers, and government entities and associations. Crypto Oasis’ vision is to become one of the world’s leading blockchain ecosystems. Today, it is the fastest growing blockchain ecosystem in the world, with more than 1,650 organizations and more than 8,300 people working in the field in the UAE alone.please visit www.cryptooasis.ae.
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