Report
Summary
Blockchain has been the foremost emerging technology of this digital era. Organisations have increasingly leveraged distributed ledger technology, since its advent with Bitcoin in 2008. It continues to drive technological innovation and disruption that majorly will impact how we live and do business. The Crypto Oasis is the geographic region of the Middle East and North Africa that contains all Blockchain, Crypto, Metaverse and Web3 related organisations and activities that occur within it.
The Crypto Oasis is the fastest growing Blockchain Ecosystem in the world and has been growing at an unprecedented rate over the past year. The purpose of inception of the name Crypto Oasis was to give the entire MENA region a title to stand out amongst the likes of Silicon Valley and the Crypto Valley. The talent and capital for Blockchain migrated from Silicon Valley to Crypto Valley and then to the Crypto Oasis in the Middle East. Thus, we gave it an identity of its own, a unique name.
Ecosystem
Companies
The Crypto Oasis Ecosystem comprises of Talent, Infrastructure and Capital. Talent comprises of Projects & Startups and Service Providers, Infrastructure comprises of Government & Associations and Education & Research and Capital comprises of Investors & Collectors and Corporates.
Projects & Startups
Global Protocols
While Cryptocurrencies are primarily recognized as new monetary systems and financial networks, Blockchain networks can be used to power various use cases and create new applications across industries.
Web3 Infrastructure
The concept of Web3 has been around for more than half a decade and was originally coined by Ethereum founder Gavin Wood in 2014.
DeFi
Decentralised finance (DeFi) is an emerging and rapidly developing field in the Blockchain environment.
Digital Asset Infrastructure
The digital asset infrastructure is, in fact, a network to exchange sensitive and valuable data through a secure and immutable decentralised and distributed network of ledgers.
Crypto Exchanges
A Crypto currency exchange is a digital marketplace where traders and investors can buy and sell coins/tokens using different FIAT currencies or altcoins.
NFT Platform
NFT-based marketplaces are beginning have a presence all over the Crypto world. While the details vary from platform to platform, these types of NFT marketplaces will likely become commonplace in the near future, providing decentralised and trustless trading that’s limited only by the imagination of their creators.
Metaverse & Gamefi
The term Metaverse was coined by Neal Stephenson in his 1992 novel Snow Crash to describe a virtual world in his imagined future, a 21st-century dystopia. In Snow Crash, the Metaverse is a virtual-reality world depicted as a planet-encircling market where virtual real estate can be bought and sold, and where VR goggle-wearing users inhabit 3D avatars whose form they have the freedom to choose.
Service Providers
Technology & Advisory
Technology and Advisory refers to organisations in the Crypto Oasis Ecosystem that provide consulting, project management and software development services to established companies and start-ups. These organisations can be native Blockchain companies, that have Blockchain at their core, or non-natives that provide services relevant to Blockchain entities. These companies transform the way people live and work, shaping leaders’ ability to understand and maximize the social and economic opportunities offered by the digital society.
Legal & Compliances
The legal industry has been slow to modernise and still uses traditional ways. Enterprise Ethereum alleviates labor-intensive manual processes while providing increased accessibility, transparency, cost savings, speed, efficiency, and data integrity to the legal industry.
Investors & Collectors
Venture Capital
A new breed of VC’s has recently emerged, one that exclusively invests in Digital Assets/Tokens. While tokens functionally represent equity in the business, obtaining funds via an ICO or an IDO, rather than trading shares, entails a distinct element of risk for investors. Purchasing tokens through an ICO enables shareholders to cash out their investment sooner and quicker, but the products are generally less reliable and credible than their stock-market counterparts.
Corporates
Financial Institutes
Financial Institutions are the cornerstone of economic activity and critical for long-term economic growth and development. However, the global financial crisis demonstrated the downside of interconnectedness and revealed systemic vulnerabilities.
Other Industries
Blockchain technology has been quietly adopted throughout different industries, from healthcare, supply chain and insurance use cases. Global spending on Blockchain solutions reached $6.6B in 2021 and is expected to reach $19B in 2024. Blockchain in healthcare will reach a value of $1.2B by 2028
Government & Associations
Government & Associations
The UAE seeks to be the happiest country in the world and serves as a global pioneer with its government entities.
Economic Zones
The UAE offers investors more than 40 multidisciplinary economic zones, in which expatriates and foreign investors can have full ownership of companies.
Education & Research
Universities & Institutes
Emerging Technologies, such as AI, Data Science and Blockchain have created a skill gap in today’s workforce.
News & Media
Publications covering digital currency news and updates. They provide news on Bitcoin and Ethereum.
Crypto Oasis Ecosystem
Report 2022
