Blockchain
The Middle East Blockchain Ecosystem “Crypto Oasis” Identifies 1,000+ Blockchain Organisations Ahead of 2022 Forecast
A partnership with DMCC in January 2020 during the World Economic Forum in Davos was the precursor to the establishment of the regional Ecosystem now known as the ‘Crypto Oasis’. During the May 2022 World Economic Forum in Davos, the Crypto Oasis team proudly announced that the Ecosystem has already identified 1,000+ Blockchain Organisations ahead of the 2022 target.
Key Highlights:
- The Crypto Oasis Ecosystem has identified over 1,000 organisations in the UAE, a milestone that had initially been forecasted for the end of 2022.
- The updated target is to have over 1,500 organisations identified in the Ecosystem by end of the year.
- The Middle East is proving to be a hub for Blockchain activity and it has attracted major international Crypto Exchanges in recent months.
Dubai, United Arab Emirates–(Newsfile Corp. – May 25, 2022) – Crypto Oasis, the expansive ecosystem of Blockchain-related organisations initiated out of the UAE, is growing faster than anticipated. The benchmark of 1,000 Blockchain organisations in the ecosystem, which had been the original expectation for the end of 2022, has already been achieved ahead of time. Reaching this milestone 7 months in advance stands representative for the growth rate across the Blockchain landscape in the Middle East.
The strength of the Crypto Oasis Ecosystem and its growth can also be attributed to excellent initiatives taken by the UAE Government, which has been welcoming and fostering the development of this new industry for many years. From the Dubai Blockchain strategy initiated back in 2016 until this year, when His Highness Sheikh Mohammed bin Rashid Al Maktoum announced The Dubai Metaverse Strategy last month. This latest initiative aims to increase the contribution of the metaverse sector to the Emirate’s economy to $4 billion by 2030. Headed by Dubai’s Crown Prince, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Dubai Metaverse Strategy also intends to ensure that the metaverse increases its contribution to 1 percent of the Emirate’s GDP.
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 but do not have Blockchain as their primary focus. Native organisations account for 53% of the total number and non-native organisations that have adopted Blockchain are 47%.
From Binance, Crypto.com, Kraken to XT.com, some of the largest players in the Blockchain world are now setting up in the Middle East. The entry of various major international crypto exchanges proves the region has become an international hub for Blockchain.
Ralf Glabischnig, Founder of Crypto Oasis said about crossing the 1,000 organisations threshold, “This is an exciting time for us as we exceed expectations considerably month after month. Our target for the year has been achieved already and we’re anticipating exceptional growth in the future. The first months of 2022 have already shown that the key pillars of growing and building the Ecosystem are talent, capital and infrastructure. We believe we are still at an early stage but with the speed of development and growth that we see day by day across the community in this region, we look forward to further advancing the Blockchain economy in the Middle East.”
As regulators in the region welcome innovation and disruption, it is simpler for Blockchain related companies to secure a license and operate. The revised expectation for the number of organisations in the UAE Ecosystem by the end of 2022 is now 1,500 organisations from the 1,000 already achieved.
The significance of Blockchain lies in its inherent transparency, trust, and immutability. The Crypto Oasis Ecosystem embodies these characteristics and offers unique value to its community. The expeditious achievement of this milestone for the Middle East has surpassed expectations as the Crypto Oasis grows and expands by welcoming new countries, organisations and aspiring entrepreneurs to this growing Blockchain Ecosystem.
About Crypto Oasis
The Crypto Oasis is a Middle East focused Blockchain Ecosystem supported by initiators of Crypto Valley Switzerland. The core elements needed for its growth are Talent, Capital, and Infrastructure. The Ecosystem’s stakeholders include 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 1,000 organisations in the UAE alone. The forecast is to identify over 1,500 established organisations across the region by the end of 2022. www.cryptooasis.ae
For more information contact:
Faisal Zaidi
Crypto Oasis
[email protected]
+971552000840
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Blockchain
Reynold Lemkins Group Attends The Asset ESG Annual Summit to Explore New Paths for Corporate Sustainable Development
ESG (environment, social, and governance) is not only an important driving force for promoting the long-term sustainable development of enterprises, but has also become a key factor in enhancing their comprehensive competitiveness. However, as the discussion around ESG has progressed to the present day, there have been an increasing number of related doubts. Especially for enterprises in Asia, the world’s fastest-growing region, finding a balance between achieving ESG goals and maintaining profitability has become an important issue that urgently needs to be addressed.
Against this backdrop, the 7th ESG Annual Summit of The Asset, with the theme of “Staying the course, scaling up,” was recently held in Singapore. This summit brought together outstanding entrepreneurs, investors, and policymakers around Asia to jointly explore how to integrate ESG into corporate strategies and look forward to new opportunities for future business development. As a partner of the Summit, President and CIO of Reynold Lemkins Liu Haoran shared his view on how corporate financing and risk management strategies should effectively combine with the ESG concept.
How should investors choose enterprises with long-term value?
Reynold Lemkins Group has been committed to playing the role of “patient capital,” providing long-term and stable support and companionship to enterprises, and actively involving more long-term investors in the market. At the same time, Reynold Lemkins is also committed to supporting companies that can not only bring financial returns but also have long-term value. Liu Haoran said at the event, “As an investment institution, Reynold Lemkins Group has been working to promote the formulation of sustainable investment standards. Currently, we have multiple methods to evaluate whether potential investment targets have long-term value of sustainable development.”
Liu Haoran first emphasized that Reynold Lemkins closely follows the latest reports of third-party ESG rating agencies. As shown in MSCI’s 2023 report, companies with higher ESG scores usually outperform their peers in the long term. At the same time, Reynold Lemkins conducts an in-depth analysis of the relationship between a company’s financial performance and its ESG commitments through financial statements, ESG reports released by the company, and third-party audit data. The company’s innovation ability is also an important factor to consider about, companies that integrate sustainable innovation into their products and services are more likely to succeed in the future.
How can institutions lead the implementation of the ESG concept?
In the subsequent sharing, Liu Haoran mentioned, “With the rise of ESG investment, investors have begun to use more data sources to enhance their understanding and analysis capabilities of enterprise operations. Regulatory policies play an important role in this process, especially by formulating standardized disclosure requirements, which have promoted the standardized development of global sustainable investment.”
Liu Haoran pointed out that in April this year, the State Council of China issued the new “Nine Provisions,” which clearly proposed to improve the sustainable information disclosure system of listed companies. Subsequently, the Shanghai, Shenzhen, and Beijing Stock Exchanges issued relevant self-regulatory regulatory guidelines, putting forward specific requirements for the sustainable information disclosure work of listed companies in terms of constructing a sustainable development information disclosure framework, clarifying disclosure topics, and encouraging companies to make voluntary disclosures. Since the policy was proposed, 41 listed companies in the A-share market have successively disclosed the implementation rules of the board of directors’ strategy and ESG committee or the company’s ESG management system. At the same time, 114 companies have disclosed their 2023 ESG reports, an increase of 58.33% compared with the same period last year.
Meanwhile, regulatory agencies in Hong Kong are also actively promoting ESG development. In January this year, the Securities and Futures Commission of Hong Kong (SFC) stated that it would prioritize the transformation of the financial market through technology and ESG in the next three years. At the same time, Hong Kong has also strengthened the requirements for information disclosure of listed companies, promoting the improvement of market transparency and helping investors make more informed decisions.
Liu Haoran said, “By adapting to these changes in new regulations and using the newly added data and analysis tools, investors can better integrate ESG factors into investment decisions, enabling them to identify companies that are truly committed to long-term value and sustainable development.”
How can technology enhance ESG investment insights?
Liu Haoran believes that artificial intelligence and machine learning algorithms have been widely used to analyze ESG-related big data. AI can help us identify patterns and trends in the data, thereby optimizing investment strategies. According to Gartner’s forecast, by 2025, more than 50% of large enterprises will use AI to support their ESG strategies, indicating that the role of AI in ESG investment will become increasingly important.
He also added, “Blockchain technology also plays an important role in promoting supply chain transparency and ethical procurement, which is crucial for ESG compliance. According to the forecast of the World Economic Forum, by 2030, blockchain will save nearly $300 billion in costs in the global supply chain while improving transparency and traceability.”
Liu Haoran said that with the popularization of sustainability reporting software, the collection and reporting of ESG data have become more efficient, ensuring the accuracy and compliance of reports. Integrated solutions and tracking tools provided by companies such as Enablon and Sphera help enterprises manage and report their ESG performance more transparently.
“Technology not only enhances our data analysis capabilities but also helps us keep up with the trend of global sustainable investment. Reynold Lemkins will continue to be committed to standing at the forefront of this change, using technology to promote smarter and more efficient investment decisions, so that every investment can not only bring financial returns but also promote the sustainable development of society and the environment.”
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