The Future Prospects Of The BlockChain Industry; Blockchain In MENA.

[MetaverseLawyer]

Truthfully, cryptocurrency has been gaining good traction and adoption across the globe. In addition to other mainstream adopters of blockchain technology along its by products like cryptocurrency, countries collectively tagged under MENA have been seen to be incredibly involved in Cryptocurrency lately.

Around 2020-2022, Web3 in the middle-east went through a significant and worthwhile transformation from a small bourgeoning industry to a headliner in the mainstream media. UAE for instance saw an exponential increase in the number of crypto businesses while securing a 10% of global transactions.  

In the same UAE, it is thrilling to discover crypto literacy is being taught in schools, this is clearly a concerted move towards leveraging on this technology as the job hub come 2040. 

Other gulf countries are following in the footsteps, countries like Oman made its debut by coming into the crypto scene with a grand infrastructure, the country has about $1.1B invested in crypto mining, this singular move has attracted worthwhile foreign countries. 

All of these strides taken by these MENA countries sparks some form of optimism in users along the ETF approval and upcoming Bitcoin halving as the major catalysts of the next bull run.

Similarly, These actions taken by MENA serve a role globally considering how all the necessary ingredients are inherently available to its crypto savvy geeks; rapidly developing infrastructure, favourable policy making, and welcoming users sentiment. This has led blockchain technology to find its footing in this part of world.

Through all of these, Bitget has been greatly instrumental to the growth of blockchain in MENA, it has provided some of the products that seek to ease crypto participation. To mention a few, Bitget Wallet is heralded as the largest wallet in Asia with about 19 million users. 

As per a study by bitget of how blockchain savvy MENA has become, the Managing Director of Bitget; Gracy Chen has proposed to scale the company’s team and hire professionals across the region to fill a range of mid and back office roles.

This effort is made in a bid to facilitate a profound and robust cryptocurrency adoption, looking at all of these, i’ll contend in a nutshell that, the future of crypto development in the middle east seems ever promising.