SUMMARY:
The bitcoin industry in the Middle East & North Africa (MENA) region is one that has clear potential, but will need to overcome challenges in order to see widespread use. MENA-based bitcoin startups have risen and fallen, but there are three bitcoin-centric platforms that continue to operate: BitOasis, Umbrellab, and Piiko. Gaining government support, and educating consumers about the benefits of bitcoin, will be key if actors in the bitcoin space hope to see the digital currency live to its potential. If progress is made, bitcoin can boost the e-commerce space and help bring the unbanked into the international financial system.