The 2023 Crypto Oasis Ecosystem Report has identified more than 1,800 organizations operating successfully in the vibrant Web3 domain of the UAE.

The current contributor base for the booming Crypto, Blockchain, Metaverse, and Web3 sectors in the UAE numbers over 8,650 professionals.

Highlights

• Dive deep into the most rapidly expanding Blockchain ecosystem with the recently released spring edition of the report, unveiled at the 2023 Dubai FinTech Summit.
• This report delivers a thorough examination of the primary components of the ecosystem, which encompass Governments & Associations, Startups & Projects, Investors & Collectors, Service Providers, Corporates, and Education & Research.
• Among the identified organizations, 70.24% are local (1,270), while foreign entities account for 29.76% (538).
• In collaboration with the DLT Science Foundation, a newly formed global nonprofit aiming to combine top academic institutions with industry leaders and developers to advance the adoption of distributed ledger technologies (DLT) and other rapid advancements, this report has been crafted with insights from Roland Berger, a prominent management consultancy known for its expertise in digital assets, web3, and the metaverse. The report also features three exclusive articles from thought leaders published by Roland Berger.
• Additionally, the report includes an extensive regional analysis of the UAE, provided by the leading blockchain data platform, Chainalysis.

Dubai, May, 2023: The crypto landscape in the UAE is expanding at an extraordinary pace, with over 1,800 organizations recorded as of the first quarter of 2023, according to the updated Crypto Oasis Ecosystem Report. This report, created in partnership with DLT Science Foundation and Roland Berger, a top-tier management consultancy, summarizes the evolution of Blockchain technology in the UAE fueled by... Web3 cryptographic solutions, and Blockchain-driven innovations. Roland Berger has contributed several thought leadership articles that are exclusively featured within this report.

Launched during the Dubai FinTech Summit organized by the Dubai International Financial Centre (DIFC), the report indicates that there are now over 8,650 professionals employed by organizations within the UAE’s Crypto, Blockchain, Metaverse, and Web3 sectors, reflecting a 4.2% growth since Q4 2022. The report is structured into six categories: Governments & Associations, Startups & Projects, Investors & Collectors, Service Providers, Corporates, and Education & Research.

Local organizations constitute 70.5% (1,276 organizations) of the overall total, while foreign entities make up 29.5% (532 organizations). In just the first quarter of 2023, over 150 new organizations have emerged, contributing more than 350 new roles. Out of these individuals, an estimated 72.8% (around 6,301) are employed by indigenous Blockchain firms, while approximately 27.2% (about 2,350) work for non-native companies.

"The second installment of the Crypto Oasis Ecosystem Report is an invaluable reference for anyone keen on navigating the Web3 space, and it serves as a crucial resource for policymakers, investors, and entrepreneurs who aim to understand this rapidly changing blockchain environment,” remarked Saqr Ereiqat, co-founder of Crypto Oasis. “This publication is the result of extensive research conducted by the Crypto Oasis Research team, which featured a thorough analysis of the UAE Web3 Ecosystem.”

Paolo Tasca, co-founder and chairman of the DLT Science Foundation, stated, \"At the DLT Science Foundation, we are eager to connect with the world's fastest-growing Web3 ecosystem! This report offers a distinctive market analysis outlining the key contributors in the UAE, and we are proud to have played a role in its creation.\" crypto and Web3 \"The expansion of the UAE’s Digital Asset and Web3 ecosystem is truly remarkable. It is propelled by progressive regulations, an open talent immigration framework, and an evident eagerness among government entities and institutions to seize the diverse prospects that this technology presents,\" expressed Pierre Samaties, Partner at Roland Berger Middle East and head of the Global Digital Assets, Web3, and Metaverse division.

The report is rich with insightful articles penned by industry leaders from companies such as Circle, Citigroup, DIFC, DMCC, GenTwo, QORPO, Pulse World, Ripple, Securrency, State Street, Tokengate, Venom, Virtua, and Yield App. It also offers a thorough regional analysis of the UAE facilitated by Chainalysis.

Suzana Obradovic, Regional Director for the Middle East and Africa at Chainalysis, expressed enthusiasm about contributing her blockchain insights to the Crypto Oasis Ecosystem Report, noting, “The release of this second edition represents a significant milestone in the advancement of the Web3 ecosystem in the UAE. By developing comprehensive regulations and integrating future technologies, the UAE has positioned itself as an attractive destination for Web3 enthusiasts aiming to establish a foothold in the region.”

The Crypto Oasis serves as a Blockchain Ecosystem focused on the MENA region, with its headquarters in Dubai, UAE. Essential components for its growth include Talent, Capital, and Infrastructure. Stakeholders in the ecosystem encompass Investors & Collectors, Startups & Projects, Corporates, Research Institutions, Service Providers, and Government Entities & Associations. The vision of Crypto Oasis is to emerge as one of the leading Blockchain ecosystems worldwide. Currently, it stands out as the fastest-growing Blockchain ecosystem globally, with more than 1,800 organizations identified in the UAE alone, supported by over 10,000 individuals active within the sector. Visit www.cryptooasis.ae.

You can download the report at: https://www.cryptooasis.ae/reports

About Crypto Oasis

The DLT Science Foundation (DSF) is dedicated to tackling significant challenges by advocating for and utilizing distributed ledger technologies (DLT) and other rapidly advancing digital solutions. The DSF achieves this mission by fostering education, innovation, and research via its academic network coupled with partnerships with industry leaders. It facilitates the transfer of knowledge from academic institutions to business sectors, ensuring a stable integration of DLT into governments, enterprises, and society. Operating as a decentralized global entity, much like the technology it champions, the DSF brings together a network of preeminent experts worldwide to realize its vision. The DSF team is committed to furthering its mission by supporting educational initiatives, empowering research efforts, and serving as a hub for startups, universities, and institutions focused on knowledge transfer. They promote innovation through activities such as hackathons and commercializing new research, among other initiatives. Visit www.dltscience.org.

About DLT Science Foundation

Roland Berger stands out as the only European heritage management consultancy with a strong international presence. We maintain independent operations, fully owned by our partners, across 51 offices in key markets worldwide. Our talented team of 3,000 employees balances analytical strategies with empathetic designing. We passionately advocate for a sustainable paradigm that considers the entire value lifecycle, driven by our core principles of entrepreneurship, excellence, and empathy. Our cross-competence teams span all relevant industries and functions, preparing us to offer top-tier expertise to address today's profound challenges as well as those of the future. Visit www.rolandberger.com.

About Roland Berger

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