UAE Jobs: More Individuals Now Working in Crypto, Blockchain, Metaverse, Report Says – News
Crypto Oasis has identified over 1,650 blockchain organizations in the country by the end of the last quarter of 2022
More than 1,650 organizations are currently part of the UAE’s blockchain ecosystem, surpassing the 1,500 forecast for 2022 and growing faster than expected, according to Crypto Oasis.
The industry has witnessed a solid growth of 13.8 percent, which can later translate into robust growth for the global blockchain ecosystem Crypto Oasis.
Regulators in the region have welcomed 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 over 500 of these native blockchain organizations, representing the largest concentration of crypto and blockchain companies in the Middle East and North Africa region.
Crypto Oasis has added over 200 new organizations in Q4 2022 bringing in over 1,300 new professionals to the burgeoning ecosystem, bringing the total number of individuals working in this industry to 8,300. This 19 percent growth in employment numbers can be attributed to The UAE is a force to be reckoned with in the global blockchain landscape.
About 78.2 percent of these individuals work in native blockchain organizations, while 21.8 percent work for non-native companies.
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Ralf Glabischnig, founder of Crypto Oasis, said: “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 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 not yet been reached and the industry faces challenges such as scalability, security and user adoption. It is an exciting and rapidly developing field to watch and we are keen to 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 the complex and rapidly evolving landscape.
“The UAE is the perfect amalgamation of talent and capital built on a 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 published its Digital Economy Strategy which aims to double the contribution of the digital economy from 9.7 percent to 19.4 percent over the next decade The launch of regulators such as VARA and various industry events such as 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 digital economy globally.”
