UAE: Crypto Oasis lists over 1,650 blockchain firms by Q4 2022


More than 8,300 individuals currently work in organisations in the crypto, blockchain, metaverse and Web3 ecosystem of the UAE

Crypto Oasis has now surpassed their goal of identifying 1,500 organisations in the ecosystem by the end of 2022. As of December 31, there were over 1,650 organisations, and the ecosystem has experienced a 13.8 per cent growth.

Crypto Oasis has added more than 200 new organisations in Q4 2022. These firms have brought in over 1,300 skilled professionals to the ecosystem, bringing the total number of individuals working in this industry to over 8,300. This 19 per cent growth in employment numbers can be attributed to the UAE being a force to reckon with in the global blockchain landscape.

A total of 78.2 per cent (approx. 6,500) of these individuals work in native blockchain organisations, i.e. those focused on blockchain and related decentralised technologies. Meanwhile, 21.8 per cent (approx. 1,800) work for non-native companies, i.e. 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 organisations in our ecosystem that are contributing to a diverse community of stakeholders. The possibilities for Web3 technology are vast, from finance and supply chain management to gaming and social media.”

“However, as it’s a relatively new and emerging technology, its full potential hasn’t been reached yet and 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 Web3 and decentralised technologies.”

Crypto Oasis supports blockchain and Web3 organisations to access resources and expertise that can help them navigate the complex and rapidly evolving landscape. In addition, joining the ecosystem allows them to network with potential partners and customers 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 the digital economy from 9.7 per cent to 19.4 per cent 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.“

Crypto Oasis Ecosystem Report 2022
Meanwhile, in the inaugural version of the Crypto Oasis Ecosystem Report 2022, published in partnership with Roland Berger in October’22, the ecosystem identified over 1,450 Web3 organisations in the UAE at the end of Q3 2022.

This report aimed to establish the first quantitative and qualitative study of the Crypto Oasis ecosystem.

Credit: (Gulf Business)

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