Crypto Oasis Identifies 1,650+ Blockchain Organizations in MENA Region During Q4 2022

DUBAI, UAE, Jan 21, 2023 - (ACN Newswire) - Crypto Oasis, the fastest growing Blockchain Ecosystem in the world, has surpassed its target 1,500 organizations, identified by the end of 2022. As of 31st December, there were over 1,650 organizations in an Ecosystem which has been growing even faster than previously anticipated.

The Ecosystem witnessed a sturdy 13.8% growth for the year, while the Crypto Oasis is expected to continue its robust growth in the coming months as regulators in the region welcome innovation and disruption, making it easier for blockchain-related companies to secure licences and operate. At the forefront of this is Dubai Multi Commodities Centre (DMCC), home to over 500 of these native Blockchain organizations, and 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 into a burgeoning Ecosystem and boosting the total number of individuals working in this industry to 8,300+. This 19% growth in employment numbers can be attributed to the UAE being a force to reckon with in the global Blockchain landscape. 78.2% (approx. 6,500) of these individuals work in native blockchain organizations, or those which are focused on blockchain and related decentralized technologies. 21.8% (approx. 1,800) work for non-native companies, or those that offer blockchain related services or products but do not have blockchain as their primary focus.

Ralf Glabischnig, Founder of Crypto Oasis, stated, "We're thrilled to have identified these new organizations that are contributing to a diverse community of stakeholders in our ecosystem. The possibilities for Web3 technology are vast, from finance and supply chain management to gaming and social media. However, as it's a new and emerging technology, its full potential hasn't been reached yet, while the industry is facing challenges such as scalability, security, and user adoption. It's an exciting and rapidly evolving field to watch and we're eager to collaborate and learn from each other as we work to improve systems for 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 customers, and to 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) is one of the first Government entities worldwide 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 inception of regulators like VARA and various industry events like the Abu Dhabi Finance Week and Dubai Fintech Week, as well as the launch of the Dubai Economic Agenda "D33", demonstrate UAE's commitment in taking an active step to becoming the centre of digital economy globally."

The inaugural version of the Crypto Oasis Ecosystem Report 2022, published in October in partnership with Roland Berger, a top tier strategy consulting firm, identified 1,450+ Web3 organizations in the UAE at the end of Q3 2022. The report aimed to establish the first quantitative and qualitative study of the Crypto Oasis Ecosystem. Pierre Samaties, Partner and Global Head of Crypto Economy and Web3 at 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 witness how regulators in the region are welcoming innovation and disruption, making it simpler 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 fosters collaboration and pooling resources and expertise to create a more robust and resilient environment to build, create and operate. The Web3 Ecosystem serves the needs of all members and has a positive impact on the wider community by helping drive innovation related to decentralized technology. New members to the ecosystem can contribute to this effort and shape the direction of Web3 development in the region.    

Report Link: https://cryptooasis.ae/ecosystem-report-2022/

About Crypto Oasis

The Crypto Oasis is a MENA focused Blockchain Ecosystem headquartered in Dubai, UAE. The core elements needed for its growth are Talent, Capital, and Infrastructure. The Ecosystems stakeholders include Investors & Collectors, Start-Ups & Projects, Corporates, Science & Research Institutions, Service Providers and Government Entities & 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, and more than 8,300+ individuals working in this space.

Visit www.cryptooasis.ae or email info@cryptooasis.com.