A real challenge for Israeli HighTech Ecosystem Tel Aviv is growing up in the United Arab Emirates with Abu Dhabi and Dubai. It is justified to say that the whole Abraham Accords region of the Gulf Region is now genuine part of the Silicon Wadi. The figures are impressive.
According to the report ‘Crypto Oasis”: “The expansive Ecosystem of Blockchain-related organisations initiated out of the UAE called Crypto Oasis, is growing faster than anticipated.
The goal of 1,000 Blockchain organisations in the Ecosystem, which was originally set for the end of 2022, was already met seven months ahead of schedule. By end of September 2022, the number of organisations was +1,400 out of which 66% are native and 34% are non-native.”
About 8,300 people are employed in the sector. The ‘Crypto Oasis’ ecosystem grew 13.8%. The UAE offers investors more than 40 multidisciplinary economic zones, in which expatriates and foreign investors can have full ownership of companies.
These zones are characterised by their highly efficient infrastructure, and distinct services that facilitate smooth workflows, saving businesses considerable time and effort. At the same time due to progressive regulation mainland activities have also been increasing.
And the figures are real impressive as the self-explaining chart shows
One major factor for this success and awesome growth rate is the domestication of bureaucracy which is put in line and the disciplining by the government. The bureaucracy has to obey and deliver.
At the moment this is the greatest weakness of Israel. The bureaucracy aka deep state can hardly be disciplined; yes, the deep state and the bureaucracy of Israel wrongly assume they are the real representatives of the public will and democracy, although they are not elected.
Israel needs a lot of state reform to catch up.