Blockchain
The Middle East Blockchain Ecosystem “Crypto Oasis” is Expected to Reach 1000+ Organisations Target by Q2 2022
Innovation and disruption ignites surge within the Blockchain industry, and the local regulators are supporting the progress.
Key Highlights:
- The epicenter of the ecosystem – DMCC (Dubai Multi Commodities Center) – hosts now more than 230 Blockchain-specific organisations
- The entire Crypto Oasis aspires to see more than 1,000 Blockchain organisations in its ecosystem by the Q2 2022
Dubai, United Arab Emirates–(Newsfile Corp. – March 10, 2022) – Middle Eastern Blockchain Ecosystem Crypto Oasis anticipates reaching an organisation target of 1000 in Q2 2022. The Middle East has officially connected to the global Blockchain ecosystem in a way that expresses community and embodies excellence. Crypto Oasis, the larger ecosystem of Blockchain-related organisations initiated out of the UAE, developed a strong footing for innovative talent inspired by the successful Swiss Crypto Valley environment, as well as the UAE’s forward-thinking inventive leadership.
Crypto Oasis
Proponents of Crypto Valley in Switzerland, one of the world leading Blockchain ecosystems, formed a collaboration with DMCC in January 2020 during the World Economic Forum in Davos. In May 2021, DMCC Crypto Centre was launched in full force, and is with half of the Blockchain-based businesses registered within the freezone the core of the community.
“We have decided to bring our Crypto Valley experience and expertise to the Middle East because we believe in the region’s potential. We have witnessed how regulators in the region are welcoming innovation and disruption, making it simpler for Blockchain-related companies to secure licenses and operate. As of March 2021, this fast-growing ecosystem, reached over 700 organisations operating out of the UAE,” says Ralf Glabischnig, Initiator of the Crypto Oasis.
The ecosystem in the UAE builds on the foundations set into motion back in 2016 by the Dubai Blockchain Strategy under the Dubai Future Foundation. Crypto Valley’s foundation in Switzerland began with less than ten Blockchain organisations in 2014, and by end of 2021, it had grown to over 1,100 Blockchain-related businesses with over 6,000 people contributing to it. With these numbers and rapid growth, Swiss Crypto Valley offers expertise in disruptive technology and it is only natural that such a thriving ecosystem would extend its reach and broaden its horizons.
The organisations that are active in the Blockchain space can be broken down into two different kinds. Native Blockchain organisations, that have Blockchain technology as their primary focus and reason of origin, and non-native Blockchain organisations which offer services or products related to Blockchain and do not have Blockchain as their primary focus. Native companies are 40% of the total number and non-native companies that have adopted Blockchain are 60%.
During the last 18 months, talent from around the world has joined the “always open for business” environment of Dubai. Local and international investments have fueled the upcoming Blockchain industry with venture capitalists such as Draper Goren Holm and the Woodstock Fund from Silicon Valley, establishing their presence in the Crypto Oasis. Local players like Cypher Capital and GHAF Capital Partners amongst others have also started to deploy capital in the industry.
The growth in the sector will be further supported by forward looking regulations like the Dubai Virtual Asset Regulation Law which was announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai on March 9th 2022. The first-of-its-kind law to regulate virtual assets in Dubai will present an advanced legal framework to protect investors and promote responsible business growth within a virtual asset (VA) Industry governance. The Dubai Virtual Asset Regulatory Authority (VARA) will be responsible for the implementation of this law and will monitor digital transactions and protect the personal data of users.
The significance of Blockchain lies in its inherent transparency, trust and immutability. The Company’s ecosystem embodies these characteristics and offers unique value to their partners. As the Company work towards their vision for the Crypto Oasis, they look forward to welcoming more organisations and aspiring entrepreneurs to their growing Blockchain ecosystem.
About Crypto Oasis
The Crypto Oasis is a Middle East focused Blockchain Ecosystem supported by initiators of Crypto Valley Switzerland. Our core elements are Talent, Capital, and Infrastructure. Our stakeholders are 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, with more than 700 organisations in the UAE alone. Our mission is to grow this to over 1,000 established organizations across the region by Q2 2022. www.cryptooasis.ae
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For more information contact:
Faisal Zaidi
E-mail: [email protected]
Cell: +971 55 2000 840
bybit lucky
Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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