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For over 10 years, Israel has positioned itself as a global leader for innovation, especially as a rapidly growing hotspot for technology. The country is well known for its rich ecosystem and the ability to produce disruptive and grandiose innovations. It is also known as the startup nation of the world. According to a recent report, it has been noted that Israel has grown repeatedly in the number of blockchain startups since the beginning of 2018.
Government support regulations
Most Israeli blockchain startups are concentrated in Fintech and protocols, or central infrastructure sectors. About 23 startups were concentrated on the security sector. There is no doubt that there has been a massive unprecedented growth in the blockchain Israeli industry, but many of them are skipping initial coin offerings with a reason to support equity financing. Although the first coin offerings (ICOs) provide large financial support from crowdfunding, many reports have revealed that about 80% of ICOs have been identified as scams.
As more and more start-ups continue to sprout on Isreal in the coming years, the government will have to fine-tune its regulations to ensure that growth is not stifled and significant. The country has already approved specific laws that will allow the commerce and taxation of cryptocurrencies. Recently, the Israeli Supreme Court has decided that banks and other financial institutions should not prevent the access of Crypto companies to banking services considering the involvement of the risk factor with the crypto trade.
Israeli Blockchain Association
Gadi Isaev and Roman Gold have created an investment platform with the goal of connecting Russian-speaking investors to Israeli startups. Gradually over time, investors were keen to learn about blockchain technologies and then converted the name into the Israeli Blockchain Association in November 2017 to serve as a source of funding for the country's blockchain startups. The goal of the association is to improve the world by solving everyday problems through blockchain and along the path on money. An example of their investments is the Jerusalem Revelator founded by the veteran of the music industry Bruno Guez. The startup company has developed a cloud-based platform on which users can record large volumes of digital music assets and manage revenue distribution through a smart contract application. When a song is uploaded to the Revelator, the company monetizes online content on Spotify or Apple Music and optimizes transactional relationships by automatically reporting and allocating revenue to the song and its creators. Using the smart contract app payment (which is off-center) is entered directly into the creator's wallet ID rather than delaying third parties. Revelator raised approximately $ 7 million and completed 125,000 contracts within the system.
Support systems for Israel's innovative success
The country has classified the second position in the world in terms of engineers and scientists in the world of work. Technical training is provided to young people during their military service which develops a high sense of responsibility and a sense of success from an early age.
The government "Investment Law" supports foreign companies to benefit from the corporate tax rate of just 10% and investment grants of up to 24%. Israel ranks first in the world in per capita research and development spending. It is also noted that the country invests the the highest in the world in R & D.
There is a lot of venture capital in Israel with over 70% of active venture capital firms 14 are international risk capital have branches in Israel.
Leading multinational companies like Google, Microsoft, Apple, IBM, SAP, Cisco, Johnson and Johnson and many other global engineers have their local presence in the country.
Notable Israeli startups
colu
This startup company uses blockchain technology to provide its users with an online platform to purchase and store products securely and securely. In January 2015, the company raised $ 2.5 million in seed investments. The founders have created an application programming interface for developers and a demand for customers to shop on anything from sports tickets to art works. The startup has collaborated with Revelator (music provider and marketing intelligence to the creators) and therefore also stores digital copies of songs on its blockchain platform with the possibility that if some intruder attempts to invade any song, the creator immediately receives notification of the song.
waves
This startup was created with the aim of making transactions in the field of paperless shipments and rather more electronically on a blockchain ledger. It also validates for the falsification of the document, if any.
Get gems
Getgems is a social messaging app that allows the user to send cryptocurrencies. On a similar note with existing messaging apps such as WhatsApp / Telegram, users along with messaging can also exchange virtual currencies through the application. This startup was awarded the title of "most visionary social solution" to the City Mobile Challenge in Europe, the Middle East and Africa.
disavowal
The Blockchain shares have not been paid to mention any shares / companies within this article nor do we own shares in any of the companies mentioned in this article. More information on our complete disclosure can be found here – Full Disclaimer.
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