TechCrunch’s Disrupt events are similar to religious congregations for start-ups and entrepreneurs. The event attracts start-ups, entrepreneurs, industry leaders, investors and VC firms from across the world. Start-ups can’t find any other platform better than the TechCrunch Disrupt event to launch their products and talk about it to who’s who of the industry. BitOasis, a Dubai based Bitcoin start-up was one among those start-ups who chose to unveil their product
BitOasis is one of the leading players in the Middle Eastern Bitcoin ecosystem. They are the first company to offer a Bitcoin wallet with multi-signature technology in the region. The company founded by Ola Doudin aims to increase the liquidity of Bitcoin in the MENA market which aligns with the requirements of the communities in the region. BitOasis is currently a Bitcoin brokerage that offers one day cash-in cash-out services by purchasing Bitcoin from other markets with higher Bitcoin liquidity than MENA.
Middle East and North Africa (MENA) region is one of the emerging Bitcoin economies in the world. Even though Bitcoin was introduced late in this region, people are slowing growing into it. The adoption of Bitcoin is further facilitated by other influencing factors like the presence of large number of unbanked population and expensive electronic banking services. MENA region also has a very large emigrant worker population who regularly transfer funds back to their home countries.
The number of players in MENA bitcoin space is growing. There are few companies like igot, Yellow and others already serving the Bitcoin community. BitOasis, based out of Dubai was the only Bitcoin based start-up from the region attending TechCrunch Disrupt NY event. BitOasis has over 15,000 users registered on the platform from various countries including UAE, Egypt, Morocco, Tunisia, Indonesia and Malaysia. The company received a great deal of attention while presenting during the Startup Alley segment of the event. Back home in UAE and surrounding countries where there is a real need for such services, it is sure to receive the same kind of attention and user base as well.