Israel is known as the World’s Startup Nation, so it shouldn’t come as a surprise that the number of blockchain startups in Israel has tripled since the beginning of this year. According to new findings from the Israeli Blockchain Association, there are now more than 200 blockchain startups based in Israel, making the country positioned to become a leading blockchain nation.
“Israel has a good chance to strengthen its Startup Nation brand, as well as to become a Blockchain Nation. This growth is happening thanks to effective regulation and close cooperation of many blockchain startups with educational and academic research organizations,” said Gadi Isaev, managing partner of the Israeli Blockchain Association.
According to the Israeli Blockchain Association, most Israeli blockchain startups are concentrated in the fintech and protocols/core infrastructure sectors. A large increase was seen in the security sector, which today accounts for 23 startups. It was also noted that since the beginning of the year only 20 blockchain startups have ceased operations.
Why The Israeli Blockchain Sector Is Booming
The Israeli blockchain industry is currently experiencing both a boost and a transformation. On the one hand, we see unprecedented growth among blockchain startups, but on the other hand, many of them are skipping ICOs in favor of equity financing. Today there are fewer startup founders coming out of morally questionable markets, such as Forex, binary trading, and gambling. Instead, more institutional players are starting to enter the market. Thus, the market is going through a self-purification, said Roman Gold, founding partner of the Israeli Blockchain Association.”
