Increase in number of blockchain startups in Israel, says Israeli Blockchain Association

The Israeli Blockchain Association has released its third Israeli Blockchain Startup Map, which covers over 200 startups operating in the blockchain industry. Most Israeli blockchain startups are concentrated in the fintech (57 companies) and protocols/core infrastructure (37 companies) sectors. A large increase was seen in the security sector, which today accounts for 23 startups. It is also worth mentioning that since the beginning of the year, 20 blockchain startups have ceased operations.

“The Israeli blockchain industry is currently experiencing both a boost and a transformation. – says Roman Gold, Founding Partner of the Israeli Blockchain Association. “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 self-purification.”

“Israel has a good chance to strengthen its Startup Nation brand, as well as become the Blockchain Nation”, – says Gadi Isaev, Managing Partner of the Israeli Blockchain Association. “This is happening thanks to effective regulation and the close cooperation of many blockchain startups with educational and academic research organizations.”

Regarding the 2019 forecast, the Israeli Blockchain Association expects the amount of blockchain startups to double, the role of academic structures in startup companies to increase, and the radical growth of “non-native” blockchain startups in A & B rounds, which are going through a blockchain-transformation.

The complete version of the map can be found at: http://blockchainisrael.io/startupmap. It is updated quarterly.