UAE jobs: More individuals now working in crypto, blockchain, metaverse, says report

UAE jobs: More individuals now working in crypto, blockchain, metaverse, says report

Crypto Oasis has identified over 1,650 blockchain organisations in the country at the end of the last quarter of 2022

Published: Wed 18 Jan 2023, 6:38 PM

More than 1,650 organisations are currently part of the UAE's blockchain ecosystem, surpassing the 1,500 forecast for 2022 and growing faster than anticipated, according to Crypto Oasis.

The industry has witnessed a sturdy 13.8 per cent growth, which could later translate to robust growth for global blockchain ecosystem Crypto Oasis.

Regulators in the region have been welcoming innovation and disruption, making it easier for blockchain-related companies to secure licences and operate.

At the forefront of this is Dubai Multi Commodities Centre (DMCC), which is home to over 500 of these native blockchain organisations, representing the largest concentration of crypto and blockchain companies in the Middle East and North Africa region.

Crypto Oasis has added over 200 new organisations in Q4 2022 that have brought in over 1,300 new professionals to the burgeoning ecosystem, bringing the total number of individuals working in this industry to 8,300. This 19 per cent growth in employment numbers can be attributed to the UAE being a force to reckon with in the global blockchain landscape.

Some 78.2 percent of these individuals work in native blockchain