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Promoting Blockchain Developments In The Middle East Crypto Oasis Will Fuel Blockchain Growth In The Region

Promoting Blockchain Developments In The Middle East: Crypto Oasis Will Fuel Blockchain Growth In The Region

Last Updated on February 29, 2024 by Ameer Hamza

Undoubtedly, blockchain is the most significant tech development of the Internet Age. Companies are making more use of distributed ledger technologies. It’s a significant force behind new technologies that will change our daily lives and the way we do business. In the Middle East and North Africa, the Crypto Oasis is the hub of all organizations and events related to the Blockchain, cryptocurrencies, the Metaverse, and the Web 3.

The UAE has quickly become one of the world’s leading hubs for Web 3.0 development. Since the UAE government has been proactive, the emirate has risen to the top. Recent data by Crypto Oasis highlights the UAE’s dominance in the Web3 ecosystem. The report highlighted over 1,450 distinct Web3 organizations comprising over 7,000 members.

Switzerland And The Middle East – Fostering A Deeper Connection Between The Two Regions

To bridge the gap between the Swiss and Middle Eastern blockchain communities, the Crypto Valley Association has teamed up with Dubai-based Crypto Oasis. Both associations have joined forces because they have similar ambitions for blockchain growth worldwide. As a cryptocurrency industry pioneer and a Crypto Valley Association member, Inacta sees the need to unite these two regions and reduce the cultural and linguistic barriers that have kept them apart. In addition, Arte is Crypto Oasis’s endeavor to foster a Web3-wide community that connects Web3 groups and people globally to empower them in art and technology.

Crypto Oasis Has Registered About 1,650 Blockchain Enterprises By Q4 2022

Crypto Oasis reached its 2022 target of 1,500 organizations in the Web3 ecosystem. There were more than 1,650 companies in the ecosystem as of December 31st, a rise of 13.8% from the previous year. More than 200 businesses joined Crypto Oasis in the fourth quarter of 2022. Over 1,300 competent experts have joined these companies, employing more than 8300 professionals. The United Arab Emirates’ emergence as a worldwide blockchain leader can be linked to the 19% employment increase in the sector. As a hub for blockchain and Web3 organizations, Crypto Oasis provides access to tools and knowledge that aid in navigating the dynamic and ever-changing ecosystem.

Emirati Government Taking Leading Role In Promoting Blockchain Developments

Whether it’s the metaverse, NFTs, or Web 3.0, the UAE government has been relatively aggressive in adopting blockchain developments. Another event that helped Web3 pioneers discover profitable international partnerships was the Future Blockchain Summit in Dubai. Due to its power structure in Web3 technology, the UAE has become a hub for several of the world’s most prominent cryptocurrency exchanges and startups. Binance, a global cryptocurrency exchange, made its name known to Middle Eastern traders and investors by establishing offices in Abu Dhabi, Dubai, and other Middle Eastern cities.

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