• About
  • Advertise
  • Contact
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events
No Result
View All Result
Cryptopolitan
No Result
View All Result
Home News Blockchain News

Blockchain industry in Israel witnesses 32% growth this year

Manasee Joshi by Manasee Joshi
Dec 31, 2019 01:46 pm
in Blockchain News
3 min read
Blockchain industry in Israel witnesses 32% growth this year
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

According to a study conducted by an Israeli financial news outlet the blockchain industry in Israel remains surprisingly undeterred despite hostile market conditions, lack of regulatory infrastructure, and closures of some high profile crypto ventures.

Israel has experienced accelerated technological growth in recent years with renewed interest in blockchain and cryptocurrency. And while it continues to remain a hotbed for several crypto startups and novel inventions in the crypto sphere, it still lacks the much-needed infrastructure and regulatory guidelines to make the most of the newest technologies.

According to a report published by Globes last month, the country is yet to assume a holistic regulatory approach to blockchain and provide solutions to the common challenges faced by technology. However, it appears that this fact has not dampened the spirit of those involved in the field as this month’s report suggests that as of December 2019, this sacred land is a breeding ground for over one hundred and fifty blockchain companies.

RelatedPosts

Tech Mahindra developing a Stablecoin service targeting banks

South Korea to launch blockchain-based vaccine passports

Sushiswap contract launches on 5 different networks

Binance Smart Chain unique addresses hit 47.3M ATH

Blockchain industry in Israel witnesses substantial demand

The study reveals that blockchain and cryptocurrency-related startups in Israel have witnessed thirty-two percent growth this year as opposed to last year, which reported only one hundred and thirty active companies in the field. As it digs deeper into the statistical figures, it is also revealed that this figure has doubled since the close of 2017, which recorded only fifty-three companies.

A survey carried out by the Bitcoin Association suggests that out of one hundred and thirteen active companies in 2018, only sixty-three exist to date. This implies that more than half of blockchain companies could not survive the crypto winter or decided to focus on other business functions. That said, the association adds that the study involved all large and small scale businesses involved in blockchain, whose core business operations may not primarily focus on the technology but rather use it is a base technology for conducting other activities such as software application development, cybersecurity or fintech.

Although the association does not offer insight into workforce strength in the blockchain industry in Israel, it adds that most blockchain companies have reported little to no increase in the number of employees. Moreover, the capital contribution from these companies remains significantly low given the fact that most of the ventures garnered vast sums of investments during the ICO boom and struggled to keep the business profitable after the bubble popped.

Israel – a breeding ground for up and coming startups

The survey also suggests that most of these Israeli startups are no older than three years. According to the statistical figures, around thirty percent (30%) of blockchain companies were formed in 2017, and the other thirty percent (30%) last year. The longest-running companies were founded in 2012, which accounted for a total of four such companies.

Regarding the size and scope of the companies, the figures suggest that a large number of companies operate with less than ten employees. According to the association, over sixty-five percent (65%) of these companies employ up to ten employees, around thirty-one percent (31%) report eleven to fifty employees, and only three percent (3%) has a workforce of fifty to two hundred employees.

Lastly, the report also sheds light on the nature of financing with figures suggesting more than forty-four percent (44%) companies being established on a self-funding basis. Of these, forty-two percent (42%) acquired funding at some stage, thirty-four percent (34%) received seed capital, and seven percent (7%) are running with investments generated from their own revenue.

The geographical span of blockchain and cryptocurrency companies in Israel suggest that the country’s financial hub, Tel Aviv, continues to lead the pack with one hundred and fifty active companies followed by other prominent districts like Herzliya, Jerusalem, and Netanya which contribute in their own little way.

Featured Image by Pixabay

Manasee Joshi

Manasee Joshi

An avid reader and an enthusiastic writer, Manasee recently chose to dedicate her time doing freelance writing. A degree in English literature and experiences in Administration, HR, finance, literature, creativity and innovation tucked under her belt, she crafts engaging and compelling content for crypto and blockchain audience.

Related Posts

Tech Mahindra Stablecoin
Blockchain News

Tech Mahindra developing a Stablecoin service targeting banks

2021-04-07 13:19 pm
Vaccine passports
Blockchain News

South Korea to launch blockchain-based vaccine passports

2021-04-01 10:00 am
Sushiswap contract
Blockchain News

Sushiswap contract launches on 5 different networks

2021-03-08 10:53 am
Binance Smart Chain
News

Binance Smart Chain unique addresses hit 47.3M ATH

2021-03-02 12:01 pm
SBI adopts JPMorgan’s Blockchain network for cross-border payments
Blockchain News

SBI adopts JPMorgan’s Blockchain network for cross-border payments

2021-02-23 09:57 am
digital dollar
Blockchain News

The U.S. government needs to focus on the digital dollar and blockchain – BRI report

2021-02-16 19:44 pm

Follow Us

  • 51k Fans
  • 8.3k Followers

Popular News

  • Ripple price prediction XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    Ripple price prediction: XRP blasts past $1.8392 as bulls relentlessly pursue $2.0

    1315 shares
    Share 526 Tweet 329
  • DOGE Price Prediction: Dogecoin to the moon, to hit its $0.2 target after safeguarding support

    1299 shares
    Share 520 Tweet 325
  • Cardano price prediction: ADA fails to break above $1.50, what’s next?

    1256 shares
    Share 502 Tweet 314
  • XRP Price Prediction 2021, 2023, 2025, 2030

    1137 shares
    Share 455 Tweet 284
  • Dent Token Prediction for 2021 – 2025

    1031 shares
    Share 412 Tweet 257

Latest News

Polkadot price

Polkadot price prediction: DOT breaks above $44, gears up for $50 next

April 17, 2021
Airbnb CEO congratulates former employee Brian Armstrong on Coinbase success

Airbnb CEO congratulates former employee Brian Armstrong on Coinbase success

April 17, 2021
Chainlink price

Chainlink price prediction: LINK to retest $40.0 support

April 17, 2021
Ripple price

Ripple price prediction: XRP ready to make a breakout above the $1.750 mark

April 17, 2021
Crypto Awards: People's Choice. Best of the Best 1

Crypto Awards: People’s Choice. Best of the Best

April 17, 2021

Signup To The Daily Roundup

Get New Posts By Email:
Privacy Policy

Got a Story tip? Email Contact@Cryptopolitan.com

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News

Binance News
Ripple News
Cardano News

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker
Sitemap

Exclusive Partners of

Footer 2

Got a Story tip? Email Contact@Cryptopolitan.com

cryptopolitan 1

News

Guides
Bitcoin News
Blockchain News
Ethereum News
Industry News
Research News
Scam News
Regulation News
Exchange News
Bitcoin Price
Ethereum Price
Bitcoin Cash Price
Cardano Price
Dash Price

Stay Connected

Facebook
Twitter
Telegram
Youtube

Company

About
Contact
Write for us
Advertise with us
Privacy Policy
Cookie Policy
Comment Policy
Editorial Policy
Terms and Conditions
Crypto Portfolio Tracker

Cryptopolitan brings you quality Blockchain and Cryptocurrency news, ICO reviews, crypto technical analysis, and other unique news insiders. We cover Bitcoin news, altcoins news, blockchain projects news, ICO news, regulatory developments and the confluence of news on the leading blockchain technologies.

© 2021 Cryptopolitan. All rights reserved. Terms | Privacy

No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Binance
    • Ripple
    • Ethereum
    • Cardano
  • Guides
  • Regulation
  • Price Index
    • Bitcoin Price
    • Ethereum Price
    • Ripple Price
    • Cardano Price
    • Binance Coin Price
  • Research
  • Scam
  • Events

Copyright © 2020 Cryptopolitan.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.