UAE Continues Crypto, Web3 Dominance: Report
The UAE (United Arab Emirates) has become one of the most popular destinations in the world for cryptocurrency and web3-related businesses. The government’s crypto-friendly approach has seen ample success in attracting new-age businesses and entrepreneurs. A new report by Crypto Oasis Ecosystem further solidifies UAE’s dominance in the web3 front. According to the report, the UAE houses over 1,450 active Web3 organizations. The report segregated the projects into native and non-native. Native projects are those which are based on native blockchain technologies. As per the report, 65% (950) of the projects are native, while the remaining 35% (500) are non-native. The report makes special mention of the Dubai Multi Commodities Centre (DMCC). The DMCC has registered over 460 native organizations, accounting for more than 50% of the total. Crypto Oasis Ecosystem states in its report, “To maintain this growth and successful environment, the Government of th...