Report
Summary

The world is undergoing a significant transformation, driven by a new mindset that prioritises trust, transparency, and sustainability. As we rebuild from the pandemic, geopolitical wars and face the reality of the climate crisis, Blockchain technology marks an epoch in human history and catalyses the creation of a more decentralised, democratised, and inclusive global economy. The second edition of the Crypto Oasis Ecosystem Report, created in collaboration with the DLT Science Foundation and Roland Berger, provides a comprehensive overview of this transformation and renaissance heralded by Web3, Blockchain and Cryptographic technologies in the UAE. The incoming Blockchain revolution has been charged with unbelievable momentum in the past year since we published our inaugural Crypto Oasis Ecosystem Report. With this report, we are delighted to introduce our new members and also acknowledge the most relevant players in the local Crypto space. We have highlighted the significant strides made across the Blockchain sector and the main activities of top organisations using Blockchain and Crypto technologies to transform existing markets and create new industries.

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

Protocols are rules that govern the functioning of a Blockchain. Since Blockchains are a network of computers that operate on a peer-to-peer basis, protocols define how information is transferred between participants on the network.

Web3 Infrastructure

Web3 infrastructure is the backbone of the Blockchain ecosystem and is critical to the success of decentralized applications (dApps) and other Blockchain-based solutions.

Web3 ESG

Web3 and the Metaverse have created a new opportunity for businesses to focus on ESG and sustainability. With Web3 and sustainability, organisations can better align their business goals with environmental, societal, and governance (ESG) goals.

DeFi

The Blockchain industry is witnessing a metamorphosis of traditional finance to Decentralised Finance, or DeFi. This is a peer-to-peer financial network that operates without requiring a central authority.

Digital Asset Infrastructure

The Crypto and Blockchain industries have transformed the digitised world by fostering the growth and rapid development of new digital assets with a profound impact on the financial sector.

Crypto Exchanges

A Cryptocurrency exchange is an interface that allows individuals to buy, sell, and trade Cryptocurrencies using fiat currencies or other forms of digital assets.

NFT Platform

An NFT (Non-Fungible Token) platform is an online marketplace used to buy and sell NFTs. NFTs represent different digital assets including art pieces, songs, movies, memes and more. 

Metaverse

The Metaverse is a collection of virtual realms where users meet through Virtual Reality and Augmented Reality devices.

Web3 Gaming

Web3 gaming is a relatively new concept that is built upon the foundations of Blockchain technology. It provides gamers with a new way to play and developers with a new way to monetise their games.

Service Providers

Technology & Advisory

Blockchain stores data in a series of blocks that are connected in a chain. The technology is Decentralised, meaning that the information stored in the chain cannot be altered by an individual user. Everyone who can access the network is able to see every transaction conducted through the Blockchain.

Legal & Compliances

The cutting edge Blockchain technology has the potential to revolutionise different sectors like finance, healthcare, and logistics. However, transitioning to the Blockchain space comes with significant hurdles with increasing concern and uncertainty over legal and regulatory compliance requirements within organisations in different regions.

Investors & Collectors

Venture Capital

Venture Capital firms (VC) has played a pivotal role in the growth of the Blockchain industry. As a relatively new technology with vast potential, Blockchain has attracted significant investment from VCs looking to support startups and entrepreneurs in this space. Blockchain has disrupted many industries and the applications for the technology are vast, with use cases ranging from finance and healthcare to supply chain management and more. VC firms have recognised the potential for Blockchain to transform these industries and are investing in companies that are developing innovative solutions using Blockchain technology.

Corporates

Financial Institutes

The Blockchain industry has the potential to revolutionise the financial sector by offering a Decentralised and secure platform for faster and cheaper transactions, automated contracts, and greater security. Financial services like banking, insurance, investment, and asset management recognise the transformative impact of Blockchain technology to generate new revenue, deliver process efficiency, improve end-user experience, and reduce risk in business operations.

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 $6.6bn in 2021 and is expected to reach $19bn in 2024. Blockchain in healthcare will reach a value of $1.2bn by 2028

Government & Associations

Government & Associations

The world is increasingly recognising the importance of the Crypto and Blockchain industry and Governments and associations are taking steps toward creating supportive regulatory environments to encourage innovation and promote growth and adoption in this space.

Economic Zones

Blockchain and Cryptocurrency industries have stirred up widespread attention with their rapidly growing businesses. To support this burgeoning industry, Governments and private organisations have designed and established specific Economic Zones to attract and promote innovation in Blockchain and Crypto related start-ups.

Education & Research

Universities & Institutes

Emerging Technologies, such as AI, Data Science and Blockchain have created a skill gap in today’s workforce. The World Economic Forum is expecting that more than 50% of the workforce will need to be reskilled by 2025. Universities are a key element of that reskilling exercise.

News & Media

News and media play a crucial role in any industry as they influence public perception, shape policy and drive consumer behaviour. Upto- date information and analysis of the latest developments and trends is an essential part of the Crypto and Blockchain industry.

Crypto Oasis Ecosystem

Report 2023

SPRING EDITION