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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125087
Blockchain
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The country passed a landmark bill in June 2023, which laid the foundation for stablecoins and other crypto to be treated as regulated financial activities.
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The U.K. will issue new legislation for stablecoins as well as crypto staking, exchange and custody by June or July this year, Economic Secretary Bim Afolami said.
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The Conservative-party-led government has said it wants to make the U.K. a global hub for crypto and passed legislation last year to recognize crypto and stablecoins as regulated financial activities in the country.
The U.K. government is set to put forward legislation for stablecoins as well as for crypto staking, exchange and custody by June or July, Economic Secretary Bim Afolami said at the Innovate Finance Global Summit on Monday.
“We are now working at pace to deliver the legislation to put our final proposals for our regime in place,” Afolami said. “Once it goes live, a whole host of crypto asset activities, including operating an exchange, taking custody of customers’ assets and other things, will come within the regulatory perimeter for the first time.”
In 2023, the U.K. passed a landmark financial markets bill that laid the foundation for stablecoins and crypto broadly to be treated as regulated financial activities in the country. Local regulators, the Financial Conduct Authority and the Bank of England, both consulted on what a stablecoin regime would look like last February. The BoE said it would oversee stablecoin providers that were large enough to affect the financial system, while the FCA said it would regulate the wider crypto space.
Afolami teased the coming of secondary stablecoin legislation in February, adding that the government was pushing to get it done within six months.
The U.K.’s Conservative Party-led government has said it wanted to be a crypto hub and has since consulted on its ambitions to regulate crypto. The U.K. is expected to have an election this year, which could see the Conservative party ousted and some crypto plans left in limbo, meaning the party could have a limited time left to execute its plans. The Labour party is the current favorite to win.
Source: coindesk.com
The post UK to Issue New Crypto, Stablecoin Legislation by July, Minister Says appeared first on HIPTHER Alerts.
Leading the investment were Brevan Howard Digital and Framework Ventures, which signals confidence in Berachain’s vision and approach.
Notable investors in Berachain include Samsung Next, HashKey Capital, Animoca Ventures and Nomad Capital, highlighting the growing interest in DeFi-focused blockchain projects.
Berachain co-founder Smokey Bera emphasized the importance of the funding round, stating: “We see this fundraising as a great validation of our approach to building a blockchain that is built on feedback from real users and developers, and to deliver value for those groups that actually contribute to the growth of the network,” as reported by Bloomberg.
According to Berachain’s website, the platform offers a certain degree of compatibility with ETH, making it easier to transfer applications and assets. While it may not fully replicate the functionality, performance or security features of Ethereum, Berachain serves as an EVM-compliant first-layer blockchain built on Cosmos-SDK.
This architecture allows Berachain to support similar tools and operations as Ethereum, while introducing additional functionalities optimized for proof of liquidity and typical decentralized use cases such as exchanges and oracles.
The blockchain network will introduce three core assets: the BERA token for on-chain transactions, the BGT token as its governing coin, and HONEY, the protocol’s secured stablecoin, offering a complete ecosystem for decentralized financial applications.
Source: cryptodnes.bg
The post A new blockchain project has raised $100 million in funding appeared first on HIPTHER Alerts.
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