Crypto Oasis Identifies 1,650+ Blockchain Organizations in UAE Region During Q4 2022
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 over 1,650 organizations and the ecosystem, which includes the geographic region of the Middle East and North Africa and its Blockchain, Crypto, Metaverse and Web3 related organizations, has grown faster than previously thought.
The ecosystem has witnessed solid growth of 13.8%, while Crypto Oasis is expected to continue robust 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 over 500 of these native Blockchain organizations, representing the largest concentration of crypto and blockchain companies in the Middle East and North Africa (MENA) region.
Crypto Oasis has added 200+ new organizations in Q4 2022 bringing in 1300+ new professionals to the burgeoning ecosystem, bringing the total number of individuals working in this industry to 8300+. This 19% growth in employment numbers 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 native blockchain organizations, i.e. those focused on blockchain and related decentralized technologies. 21.8 (approx. 1,800) percent work for non-native companies, i.e. those that offer blockchain-related services or products, but which do not have blockchain as their main 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 vast, from finance and supply chain management to gaming and social media .As a relatively new and emerging technology, its full potential is yet to be reached and the industry faces challenges such as scalability, security and user adoption. It is an exciting and rapidly evolving field to watch and we are eager to collaborate and learn of 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. In addition, 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 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 digital economy from 9.7% to 19 .4% in 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″, show the UAE’s commitment to take an active step to become the center of digital economy globally.”
The first version of the Crypto Oasis Ecosystem Report 2022, published in collaboration with Roland Berger on October 22, identified 1,450+ Web3 organizations in the UAE at the end of Q3 2022. This report aimed to establish the first quantitative and qualitative study of Crypton. Oasis ecosystem. Commenting on the ecosystem’s growth, Pierre Samaties, partner and global head of crypto economy and Web3 at Roland Berger, a top-level strategy consultancy, 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 secure licenses and operate.”
The Crypto Oasis Ecosystem is dedicated to building and strengthening the infrastructure for 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 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 link: https://cryptooasis.ae/ecosystem-report-2022/
About The Crypto Oasis
Crypto Oasis is a MENA-focused Blockchain Ecosystem headquartered in Dubai, UAE. The core elements needed for growth are talent, capital and infrastructure. Ecosystem stakeholders include investors and collectors, start-ups and projects, companies, science and research institutions, service providers and public 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 more than 1,650+ organizations identified in the UAE alone with more than 8,300+ individuals working in the space. Please visit www.cryptooasis.ae.
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