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Ola Doudin, a female entrepreneur from Jordan has launched a Bitcoin exchange and wallet in Dubai called BitOasis, she decided to do this after having difficulty finding places to buy Bitcoin in the region. BitOasis aims to be the first Bitcoin company in the MENA region (Middle Eastern and North Africa) and to be recognised as a major technology centre in the region, according to the BitOasis website. BitOasis is available in North Africa, the Middle East and Asia. Users in the UAE, Saudi Arabia, Kuwait, Qatar and Bahrain can also benefit from the exchange by transferring money into a BitOasis bank account and exchange it for Bitcoin at a 1% premium. BitOasis also offers a multi-signature wallet service.
Doudin subsequently went back to Jordan after leaving her job in London’s finance sector after the financial crash in 2008. In 2013, she read about Bitcoin and became intrigued, later on, Ola spent months on end reading about Bitcoin on Reddit threads and in scientific journals and also began connecting with Bitcoin users and enthusiasts on Twitter.
Ola was very interested in Bitcoin, however, she could not find anywhere to buy Bitcoin conveniently in Jordan, Lebanon or the UAE. Ola ended up having to resort to buying Bitcoin from a contact she made in Canada and bought the Bitcoins by sending her new Canadian friend money via PayPal. Doudin like many of us believed that Bitcoin represents the future of banking and financial payments. She joined different Bitcoin meetup groups in Dubai and at one event met Daniel Robenek, a Czech software engineer and developer, who agreed to work on a platform with her to allow Middle Eastern users to safely buy, sell and store Bitcoins.
BitOasis launched in Dubai, late 2014. Doudin said there’s a large Bitcoin community and user base in Egypt and Morocco. Users in these countries love using Bitcoin for gaming sites, virtual private networks and cloud services, as payments via credit card and bank transfer can be very expensive and more inconvenient. Many of the Gulf’s ex-pat community also use Bitcoin to pay bills and top up phone credit for their families back home and more well-heeled users buying Bitcoin to diversify their investment portfolio like many people are beginning to do. Doudin liked to compare Bitcoin to the World Wide Web, noting that it opens up new markets and business models, and went on to say the next PayPals and Venmos of the world are going to be built on Bitcoin technology.
I love the idea of newcomers to Bitcoin especially when they are helping spread Bitcoin in new territories. When visiting Egypt last year I noticed how difficult it can be to make purchases as a tourist and how it can be worse for residents there. Many people in North Africa and the Middle East do not have access to banking and financial services. With the amount of recent exposure BitOasis has gained recently I strongly predict Ola Doudin is going to be making a large contribution to the Bitcoin community and we will be hearing a lot more about her.
With the great user interface, the ease of use I can see many people using BitOasis and I hope the service becomes as open to the rest of the world as it has been to its current intended user base.
I also love the idea of BitOasis using multi-signature security as this, unfortunately, this is not featured in most wallets. Personally though I would like to see the app launched in Android as soon as possible.
We would love to hear from anyone involved in BitOasis and we will soon to be publishing a full review of their wallet and exchange platform.
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