Middle East's Pioneering Companies Leveraging Blockchain & Cryptocurrency in 2025

PIONEERING COMPANIES LEVERAGING BLOCKCHAIN & IN DR. WOLFGANG PINEGGER OWNER & CEO The Environmental Debate HOW MIDDLE EASTERN FIRMS ARE POWERING THE BLOCKCHAIN REVOLUTION GLMall Revolutionizing E-Commerce with Blockchain- Driven Connections

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Managing Editor Ryan Parker Art and Design Head Mia Jones Business Minds Media Tech LLC. 5830 E 2nd St, Ste 7000 #13042, Casper, Wyoming 82609 United States Business Development Managers Jason Trent, Stacy Walker Executives Olivia White info@businessmindsmedia.com +44 20 4577 4296 +1 307 314 1238 Marketing Manager Basma Al Qureshi Technical Head Anna Turner Digital Marketing Manager Kevin Thompson Circulation Manager Sarah Lopez Account Harry Wood

FROM THE Shining a Spotlight on the Architects of Decentralized Transformation T he dawn of blockchain and cryptocurrency rewrote the rules of trust, ownership, and value. What once seemed like an obscure experiment in digital assets has now become the backbone of decentralized finance, smart contracts, and tokenized economies. From erasing geographical barriers in trade to redefining how assets are exchanged, blockchain is no longer a distant frontier—it is an undeniable force reshaping industries. The Middle East, with its appetite for innovation and forward-thinking leadership, has embraced this transformation, turning visionary concepts into tangible realities. This edition, Middle East's Pioneering Companies Leveraging Blockchain & Cryptocurrency in 2025, shines a spotlight on the architects of this shift. These are the companies that have harnessed blockchain's potential to revolutionize financial services, supply chains, real estate, and beyond. With blockchain adoption accelerating, a deep dive into this field was not just relevant—it was essential. While regulatory landscapes evolve and mainstream acceptance grows, it is these pioneers who are demonstrating that blockchain is more than a speculative asset class. It is a foundational technology that is already enhancing business resilience, financial inclusion, and cross-border collaborations. This edition celebrates those who are not merely participating in the shift but leading it with ingenuity and strategic foresight. The trajectory of blockchain and cryptocurrency is still unfolding, with possibilities stretching far beyond what has been achieved today. As decentralized finance intertwines with artificial intelligence, quantum security, and sustainability initiatives, the next chapter of innovation will be even more transformative. The companies featured in this edition are not just responding to the present—they are shaping the blueprint for the future. What we see today is only the beginning of a financial and technological revolution that will continue to redefine economies and industries for decades to come. Ryan parker - Managing Editor

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Story DR. WOLFGANG PINEGGER OWNER & CEO 06 www.businessmindsmedia.com

GLMall Revolutionizing E-Commerce with Blockchain- Driven Connections We created GLMall to bridge the gaps in e-commerce, particularly for online merchants in developing regions. , , , , 07 www.businessmindsmedia.com

A developing regions, find themselves wrestling with a growing list of challenges. From platforms that fail to offer the right tools for marketing and customer communication to high fees that erode their profits, these entrepreneurs are often stuck in a cycle of inefficiency. They depend on outdated e-commerce systems that either don't meet their needs or burden them with excessive costs, leaving them to handle marketing, payments, and customer engagement on their own. s the digital marketplace continues to evolve, small online merchants, especially in do not align with their actual needs. These platforms often lack essential marketing and customer communication tools, and they feature offerings from small shops competing with one another. Additionally, these platforms charge prohibitively high fees, which many online shops cannot afford, leaving them to handle their own marketing and customer engagement. Furthermore, traditional online payment systems are not only expensive but also time-consuming, with some providers taking weeks to remit payments after transactions are completed. GLMall, in collaboration with GLBrain's communication and community-building tools, was developed to address these challenges. It aims to provide an integrated marketplace with all the necessary tools for marketing, customer communication, and seamless transactions. One of the standout features of GLMall is its ability to accept crypto payments, making it the first marketplace to do so. Beyond serving as a business platform, GLMall also offers solutions for donations, microfinancing, and other tools designed to support the success of many of the United Nations Sustainable Development Goals (SDGs), further emphasizing its commitment to social impact. Unfortunately, traditional online platforms have long struggled to address these issues. While they may offer some basic functions, they often come up short when it comes to integrating the crucial components that drive real business growth—affordable transaction options, targeted marketing tools, and seamless communication systems. For many, the costs of these platforms feel like a constant barrier to achieving success, especially when they are trying to build relationships with customers and manage their operations with minimal resources. GLMall reimagines e-commerce by stepping in where traditional platforms fall short, offering a solution that goes beyond basic transactions. It's not just about providing an online store; it's about creating an ecosystem where merchants are equipped with the right tools to thrive. Privacy-First Blockchain Solutions GLMall operates on a blockchain- based marketplace powered by its patented chain code technology, which is integrated with the social networking solution GLBrain. This system ensures total privacy for its users, including merchants, buyers, and other participants, by allowing them to control who can access their data and determine the visibility of their offers and content based on geographical regions and languages. Communication Empowering E-Commerce with Crypto and Community The creation of GLMall was inspired by the growing need for an integrated marketplace that caters specifically to the needs of online shops, particularly in the developing world. Many online stores, especially in these regions, rely on costly and inefficient platforms that 08 www.businessmindsmedia.com

between merchants and buyers remains private, with all payments made in cryptocurrency secured on GLMall's proprietary blockchain. users can swap their GMBT back to other cryptocurrencies or fiat currencies as needed, providing a flexible and cost-effective solution for digital transactions. solutions for e-commerce. Unlike other blockchain systems that charge high transaction fees and are too slow for e- commerce needs, Sky Fiber is 300 times faster than Ethereum and supports instant, fee-free transactions. Pioneering a New Era of E- Commerce A Blockchain Breakthrough with Fee-Free Transactions This rapid processing speed and zero transfer costs make it ideal for handling e-commerce transactions, which often involve multiple small transactions, including payments to agents, influencers, and other parties. Additionally, Sky Fiber allows for the efficient handling of claims and fund transfers, all without the usual fees associated with traditional blockchain solutions. What sets GLMall apart from traditional e-commerce platforms is its emphasis on community building. Merchants can create and nurture their own customer communities, communicating with them in various languages and formats, from direct messages to following. This level of engagement allows for a more personalized experience for both merchants and customers. The parallel token solution developed by GLMall, which has now been granted a European patent (EP 3 857 405 B1), eliminates blockchain-related transfer and gas fees by introducing a system of self-generated transaction fees through its unique "coin hours" concept. This system mints coin hours for every hour a coin is stored in a wallet. When the coin is transferred, 50% of the existing coin hours move along with it. This structure ensures that transaction fees are accumulated and self-funded over time, providing all users with enough coin hours to cover transaction costs, thus eliminating the need for additional blockchain fees. Crypto is increasingly transforming daily e-commerce by enabling buyers to use their cryptocurrency directly in online transactions, bypassing the need to convert it to fiat currency and the associated costs of banking and taxes. For merchants, especially in regions with high inflation, receiving payments in crypto offers a way to avoid the delays and high fees of traditional payment providers. They can convert their crypto to fiat currency whenever GLMall is also the first marketplace specifically designed for online shops to accept crypto payments without the usual crypto transaction fees. It achieves this through its patented parallel coin solution, enabling the seamless conversion of both cryptocurrency and fiat currencies into its transaction token, GMBT. This token facilitates all necessary transactions within the platform, and The Sky Fiber Blockchain, which powers GLMall, offers significant advantages over existing blockchain 09 www.businessmindsmedia.com

needed or use it to purchase goods they sell online from their vendors. GLMall plays a crucial role in this evolution by providing a seamless and efficient platform for crypto payments in e- commerce, offering a cost-effective solution for both buyers and merchants. may prefer to be paid in fiat currency instead of swapping the GMBT token into USDT or other cryptocurrencies. To address this, GLMall offers merchants the option to sell their GMBT tokens back to the platform in exchange for USD or other fiat currencies, albeit with an additional fee. GLMall is the first marketplace designed for online shops to accept crypto payments without the burden of high transaction fees Simplifying Crypto Payments for Buyers and Merchants Alike Stories of Triumph One of the biggest challenges in integrating crypto payments into mainstream commerce is the complexity involved for buyers in creating and managing crypto wallets, in addition to handling traditional banking and credit card solutions. GLMall addresses this issue by partnering with ALCHEMY Pay, allowing buyers to use regular credit cards and payment systems to purchase the necessary coins for transactions. This eliminates the need for buyers to set up a wallet or purchase crypto on their own, simplifying the process. One success story demonstrating GLMall's impact is its partnership with Shopify, the world's largest online shop software provider. GLMall is now accepted as a sales channel for Shopify-operated online shops. Through a simple app, Shopify merchants can display their products on the GLMall marketplace, utilizing its marketing and communication tools. Merchants don't need to accept crypto payments directly but can offer products in fiat currency while still benefiting from the platform's crypto features. Customers can choose to pay in crypto, but the payment method is left to the merchants and buyer's discretion. Merchants also face challenges in accepting crypto payments, as some 10 www.businessmindsmedia.com

Trust, Transparency, and Security—Redefined To ensure security and transparency for both merchants and customers, GLMall executes all crypto-related transactions on its blockchain system, providing the transparency and security inherent in blockchain technology. Both buyers and merchants can track the status of payments and shipments. The merchant will only receive funds once the buyer accepts receipt of the goods, or after a 28-day period without a complaint. All communication related to the transaction is conducted through GLMall's communication system, ensuring that conversations are unchangeable and can serve as evidence in case of a dispute. If the buyer raises a claim within the set period, the merchant has the same time frame to respond and resolve the issue. If the merchant fails to address the claim within the time frame, the funds are returned to the buyer. This process ensures greater transparency and ease of handling compared to traditional payment systems like credit cards. Additionally, GLMall monitors and can ban users or merchants who fail to adhere to the platform's fairness rules, ensuring a secure and trustworthy environment for all participants. Blockchain for Trust and Transparency in Giving For countries, NGOs, and micro- financing organizations, GLMall's blockchain technology offers unique communication possibilities that are especially valuable in donation and micro-financing contexts, where trust is essential. Through GLMall, donors and beneficiaries can communicate directly in any language, ensuring transparency and accountability. A key advantage of GLMall's blockchain-based system is that donors can restrict their funds for specific purposes. For example, if a donor 11 www.businessmindsmedia.com

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funds an eye operation, the funds are only usable for that operation at a designated clinic. Both the donor and the beneficiary can confirm the completion of the transaction, ensuring trust and reducing the potential for misuse. Similarly, NGOs involved in the transaction receive their designated share, and everything is handled transparently. of their operations and customer communications. online shop for free. Merchants who already operate online shops on platforms like Shopify or WooCommerce can seamlessly integrate their stores into GLMall using the provided apps. By reducing dependency on major e- commerce and banking players, GLMall is positioning itself as a vital tool for smaller enterprises. For smaller online shops with limited offerings, merchants have the option to create and manage their products directly within their GLMall shop. However, GLMall generally recommends opening an online shop with Shopify, as it ensures a more professional system with comprehensive payment options and enhanced functionality at every level. The platform's blockchain-based communication and transparent payment systems will revolutionize the way NGOs and micro-financing organizations operate, offering more secure, trusted, and efficient means of connecting donors with beneficiaries. Additionally, the ability to transform offers into NFTs will create new opportunities in the field of smart contracts, further expanding GLMall's potential to shape the future of global e-commerce. This direct and secure method of communication and fund allocation can significantly increase trust and encourage more donations, ultimately helping achieve the United Nations' Sustainable Development Goals (SDGs). GLMall's blockchain technology, marketplace, and communication tools play a pivotal role in facilitating these impactful solutions. GLMall offers robust support to ensure a smooth onboarding process, helping merchants integrate and maximize their presence on the platform. This makes it easy for businesses of all sizes to begin leveraging GLMall's innovative features and reach new audiences globally. Start Selling on GLMall in Minutes Envisioning a Brighter Future of lobal E-commerce Getting started with GLMall is simple and user-friendly for both merchants and users. Interested parties can easily register on GLBrain and GLMall, creating a profile and setting up an Looking to the future, GLMall envisions empowering small businesses worldwide to take control 13 www.businessmindsmedia.com

T H E Environmental D E B A T E B tamper-proof solutions. However, its environmental impact remains a contentious issue. Energy-intensive networks, particularly those using Proof of Work (PoW) consensus mechanisms, have drawn criticism for their carbon footprints. Yet, emerging innovations and alternative consensus models suggest that blockchain can evolve into a sustainable technology without compromising security or decentralization. lockchain technology has reshaped industries by offering decentralized, transparent, and some countries. Reports suggest that Bitcoin mining operations use energy equivalent to that of Argentina or the Netherlands. Carbon Emissions: A significant portion of mining activities rely on fossil fuel-based electricity, contributing to greenhouse gas emissions. E-waste: The rapid obsolescence of specialized mining hardware (ASICs) results in electronic waste, further aggravating environmental concerns. • • These issues have fueled criticism, with environmental advocates calling for regulatory action and sustainable alternatives. The question remains: can blockchain technology overcome these environmental challenges? The Environmental Impact of Blockchain The environmental debate surrounding blockchain stems primarily from its energy consumption. Bitcoin and Ethereum, the two most widely used blockchain networks, initially relied on PoW, a process that requires miners to solve complex mathematical puzzles to validate transactions. This mechanism, while secure, demands vast computational power, leading to concerns over its carbon footprint. The Shift Towards Sustainable Blockchain Solutions In response to environmental concerns, the blockchain industry has been exploring various approaches to sustainability, focusing on reducing energy consumption and integrating eco-friendly practices. • Energy Consumption: The Bitcoin network alone consumes more electricity annually than 14 www.businessmindsmedia.com

Can Blockchain Be Sustainable? 15 www.businessmindsmedia.com

1. Transition to Proof of Stake (PoS) computational workload on primary blockchain networks by processing transactions off-chain or in more energy-efficient ways. One of the most significant advancements in blockchain sustainability is the shift from PoW to PoS consensus mechanisms. Unlike PoW, which requires miners to perform energy-intensive computations, PoS selects validators based on the number of tokens they hold and are willing to stake as collateral. Rollups: Technologies like Optimistic Rollups and ZK-Rollups bundle multiple transactions into one, reducing on-chain activity and lowering energy consumption. Sidechains & State Channels: Networks like Polygon operate as energy-efficient extensions of Ethereum, processing transactions without burdening the main chain. • Ethereum's Merge: In 2022, Ethereum transitioned from PoW to PoS, reducing its energy consumption by over 99%. Other PoS Networks: Blockchains like Cardano, Solana, and Tezos have adopted PoS from inception, prioritizing efficiency and sustainability. Benefits: PoS drastically reduces energy requirements while maintaining network security and decentralization. , , • 4. Carbon Offsetting and Eco- Friendly Blockchain Projects Blockchain is the tech. Bitcoin is merely the first mainstream manifestatio n of its potential. , , A growing number of blockchain initiatives are integrating environmental sustainability into their core design. • • Carbon-Neutral Blockchains: Platforms like Algorand and Chia aim to achieve carbon neutrality through energy-efficient consensus mechanisms and offsetting emissions. Tokenized Carbon Credits: Projects such as KlimaDAO and Toucan Protocol use blockchain to track and trade carbon credits, promoting sustainability efforts. Supply Chain Transparency: Blockchain applications in supply chains help ensure environmentally responsible sourcing and production, reducing waste and carbon footprints. 2. Green Mining Initiatives For PoW networks that still rely on mining, efforts are being made to transition towards greener energy sources: • • Renewable Energy: Some mining farms now operate using hydro, solar, or wind power to mitigate environmental impact. Flare Gas Mining: Companies are repurposing waste gas from oil fields to power Bitcoin mining, reducing methane emissions that would otherwise contribute to climate change. Mining Councils & Sustainability Pledges: Groups like the Bitcoin Mining Council advocate for transparent energy use reporting and increased reliance on renewable energy. • • • Challenges to Blockchain Sustainability Despite progress, the journey toward a fully sustainable blockchain ecosystem faces challenges: 3. Layer 2 Scaling Solutions • Adoption of Sustainable Models: Many PoW networks, including Bitcoin, have not transitioned to Layer 2 solutions help reduce the 16 www.businessmindsmedia.com

• PoS due to security concerns and decentralization trade-offs. Regulatory Hurdles: Governments are still defining policies regarding energy- intensive blockchain activities, which could impact innovation and adoption. Scalability vs. Sustainability: Some scaling solutions prioritize speed and efficiency but may introduce centralization risks, raising concerns over long-term viability. User & Developer Awareness: While sustainable blockchain solutions exist, widespread adoption requires education and incentivization for developers, miners, and users. • • • The Future of Sustainable Blockchain The push for blockchain sustainability is gaining momentum, with researchers, developers, and industry leaders seeking innovative solutions. Future trends that could shape the sustainability of blockchain include: greener blockchain operations while penalizing excessive energy use. Conclusion The environmental impact of blockchain is a pressing concern, but it is not an insurmountable challenge. With advancements like PoS, renewable energy-powered mining, Layer 2 scaling solutions, and carbon offset initiatives, blockchain technology is steadily evolving toward a greener future. The key lies in industry-wide collaboration, innovation, and responsible adoption of sustainable practices. As blockchain continues to grow, striking a balance between decentralization, security, and sustainability will be crucial in ensuring that the technology benefits not only its users but also the planet. • Hybrid Consensus Models: Combining PoS with other mechanisms like Proof of Authority (PoA) or Delegated Proof of Stake (DPoS) could optimize efficiency. Decentralized Energy Grids: Blockchain could facilitate peer- to-peer energy trading, enabling users to buy and sell excess renewable energy in a decentralized manner. AI-Powered Optimization: Machine learning and AI could enhance blockchain energy efficiency by dynamically adjusting processing power requirements. Stronger Regulations & Incentives: Governments may introduce policies to encourage • • • 17 www.businessmindsmedia.com

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The Evolution of Scaling Solutions B decentralized, secure, and transparent solutions across industries. However, as adoption grows, scalability remains one of the biggest challenges. The more transactions occur on a blockchain network, the more congested and expensive the system becomes. This is particularly evident in networks like Ethereum and Bitcoin, where transaction fees surge during periods of high demand. To address these limitations, Layer 2 scaling solutions have emerged as a pivotal innovation, optimizing blockchain performance without compromising its core principles. lockchain technology has revolutionized the digital landscape, offering more cost-effectively while maintaining security through the underlying blockchain. Early Challenges in Blockchain Scalability The need for Layer 2 solutions stems from the inherent limitations of early blockchain networks. Bitcoin and Ethereum, for instance, use Proof of Work (PoW) consensus, which is secure but slow and resource-intensive. Bitcoin processes roughly 7 transactions per second (TPS), while Ethereum, even after its shift to Proof of Stake (PoS), still struggles to handle high network congestion. This results in long wait times and exorbitant transaction fees. Understanding Layer 2 Solutions Initial attempts to improve scalability at the base layer included increasing block sizes (as seen with Bitcoin Cash) or transitioning to PoS (as with Ethereum 2.0). However, these solutions alone are insufficient to meet the growing demand for decentralized applications (dApps), gaming, and financial services. This paved the way for Layer 2 technologies. Layer 2 solutions are built on top of an existing blockchain (Layer 1) to enhance scalability and efficiency. While Layer 1 improvements focus on modifying the base protocol—such as upgrading consensus mechanisms—Layer 2 solutions work externally to offload transaction loads from the main chain. This allows transactions to be processed faster and 30 www.businessmindsmedia.com

Solving Blockchain's Scalability Challenge 31 www.businessmindsmedia.com

The Rise of Layer 2 Solutions main blockchain. This significantly reduces congestion while retaining security. Several Layer 2 scaling solutions have gained prominence, each with unique approaches to enhancing blockchain efficiency. Below are some of the most significant innovations: Optimistic Rollups: Assume transactions are valid by default and only run fraud proofs when necessary. Examples include Arbitrum and Optimism. Zero-Knowledge (ZK) Rollups: Use cryptographic proofs to verify transactions before posting them on- chain, enhancing security and efficiency. Examples include zkSync and StarkNet. 1. State Channels State channels enable parties to conduct multiple transactions off-chain before finalizing the results on the main blockchain. This significantly reduces congestion while maintaining security. Example: The Lightning Network for Bitcoin allows near-instant transactions at a fraction of the cost. By opening payment channels between users, transactions can occur off-chain and only settle on-chain when necessary. Limitations: State channels require participants to remain online and actively monitor transactions, making them less practical for some use cases. Advantages: Rollups offer a balance between scalability, security, and decentralization. They are currently the most promising Layer 2 solution for Ethereum's ecosystem. 4. Sidechains Sidechains are independent blockchains that interact with the main blockchain through a two-way bridge. These allow for faster and cheaper transactions while benefiting from the security of the main chain. 2. Plasma Chains Plasma is a framework for creating smaller chains, or "child chains," that offload computations from the main Ethereum blockchain. These chains process transactions independently and report back to Ethereum's mainnet, ensuring security while increasing scalability. Example: Polygon operates as a Layer 2 solution for Ethereum, facilitating high-speed transactions for dApps and DeFi platforms. Limitations: Sidechains have their own consensus mechanisms, which can sometimes compromise security compared to the main blockchain. Example: OMG Network leverages Plasma to facilitate high-speed transactions with lower fees. Limitations: Plasma chains rely on complex exit mechanisms, which can make fund withdrawals slow and cumbersome. The Future of Layer 2 Scaling Solutions As blockchain technology continues to evolve, Layer 2 solutions will play an increasingly critical role in mainstream adoption. Several trends are shaping the next phase of development: 3. Rollups (Optimistic and ZK- Rollups) Rollups bundle multiple transactions together and process them off-chain before submitting a single proof to the Interoperability: More Layer 2 networks are working towards seamless communication with each 32 www.businessmindsmedia.com

other and across multiple blockchains, reducing fragmentation in the ecosystem. Enhanced Security Models: Innovations in cryptographic proofs and fraud detection mechanisms will further solidify the reliability of Layer 2 solutions. Lower Costs and Faster Transactions: With continued optimizations, Layer 2 solutions will make blockchain transactions as seamless as traditional payment networks, boosting adoption for everyday users. Mass Adoption of DeFi and NFTs: As transaction fees decrease and processing speeds increase, decentralized finance (DeFi) and non- fungible token (NFT) markets will experience exponential growth. Conclusion The evolution of Layer 2 scaling solutions marks a significant leap forward in solving blockchain's long- standing scalability challenge. By enabling faster, cheaper, and more efficient transactions, these solutions pave the way for wider adoption and practical real-world applications. While no single approach is a silver bullet, the combination of rollups, sidechains, state channels, and Plasma chains is steadily transforming the blockchain landscape. As the industry moves forward, continuous innovation in Layer 2 technologies will be instrumental in realizing blockchain's full potential, making decentralized systems as efficient and scalable as their centralized counterparts. 33 www.businessmindsmedia.com

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Middle East's Pioneering Companies Leveraging Blockchain & Cryptocurrency in 2025

Middle East's Pioneering Companies Leveraging Blockchain & Cryptocurrency in 2025

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