A female Jordanian entrepreneur, Ola Doudin, has opened a bitcoin wallet and exchange, BitOasis, in Dubai. BitOasis aims to be the first Bitcoin company to register in a technology centre in MENA (the Middle East and North Africa). Currently, the wallet service is available in the Middle East, North Africa and Asia. According to its website, users from countries, including UAE, Saudi Arabia, Bahrain, Kuwait, and Qatar are also allowed to use the exchange service by sending money to a BitOasis bank account and exchange it for bitcoins for a 1 percent fee.
Bitcoin is a payment system and a digital asset invented by Satoshi Nakamoto in 2009. The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain, which uses Bitcoin as its unit of account.