Executive SummaryWhat is this report about? As a continuously evolving technology, many organizations in the GCC region are exploring the potential of blockchain to not only enhance their capabilities, but also process transactions and exchange information in effective and secure manner. Cryptocurrencies, the first application of blockchain, on the other hand are heavily regulated or banned in the region. Experts claim that the true value of cryptocurrencies is to be found in its underlying technology. The report provides a detailed analysis of adoption of blockchain and cryptocurrencies in the GCC region, the regulations placed by Government authorities on cryptocurrencies and an insight into the crypto trading scenario in the region. Who will benefit and why? The report will benefit anyone seeks to study the blockchain and cryptocurrency landscape in GCC. It includes regulators, government agencies, economists, research institutions and policy makers, investors and business entities. This report would help these entities to gain in-depth understanding about the topic in the context of GCC. How exhaustive is this report? This report is based on our research on blockchain technology applications in the GCC region and the regulatory approach towards cryptocurrencies. The study has been conducted in the light of the largescale interest by public and private entities in the technology and its adoption across sectors in the region. The study contributes knowledge about the technology that undergirds the transformation of GCC economies into financial and technological hubs and the regulatory aspects surrounding it.
Table of Content
- Background of Blockchain and Cryptocurrency Adoption in GCC
- Why Blockchain is preferred while Cryptocurrencies are shunned?
- Regulations in the area of Blockchain
- Current Cryptocurrency Trading Status in GCC countries
Key Questions Addressed in this report
- In what ways are the GCC governments responding to blockchain disruption in different sectors?
- Why is blockchain adoption encouraged by authorities while cryptocurrencies are shunned?
- Which are the sectors that are currently adopting blockchain?
- What are the potential future application areas of blockchain?
- What is the legal status of cryptocurrencies across GCC region?
- What is the trading status of cryptocurrencies in GCC countries?