Deloitte Israel’s recently published report, Israel: A Hotspot for Blockchain Innovation, has Blockchain and the Fintech revolution centred in Tel Aviv and Israel itself as being a global leader. Deloitte’s report included profiles of 38 Blockchain firms in Israel, with background histories on each firm and detailed financials.
The writers state that it’s easily on par to Silicon Valley when it comes to Blockchain theory and technology.
The report notes there are 430 Israeli fintech companies, including large enterprises as well as hundreds of local startups that raised $369 million in raised capital by 61 fintech Israeli companies in 2014. During the first three quarters of 2015, about 43 Israeli companies are reported to have raised capital and there are 14 Multinational fintech R&D centers in the country.
The report notes:
Israel, and specifically Tel Aviv, are at the forefront of blockchain technology
1. Cyber security and cryptography play a key role in the Israeli defense establishment; as such, the military serves as a potent incubator for these fields.
2. There are numerous Israeli entrepreneurs and startups that are currently developing a wide range of blockchain, applications. The dynamic nature of weekly blockchain meetings and the close cooperation between the science innovation and finance sectors, function as a powerful driving force behind the blockchain industry in Israel.
3. The “Israeli Factor” – Israel is well known for its entrepreneurial spirit and booming startups scene, successfully introducing many cutting edge technologies to the world
4. Israel is uniquely geographically positioned to serve as a gateway to numerous markets. Providing easy access to Europe as well as to Eastern Asian and African countries, Israel is ideally located for conducting business with foreign markets.
5. Israel’s relatively small size (approximately 20,000 sq. km), provides for a highly concentrated business arena. Consequently, due to their fairly close proximity, it is very easy for companies throughout the country, to interact and collaborate with each other.
Deloitte’s report profiles 38 blockchain firms domiciled within Israel, with background histories on each firm and detailed financial figures.
Deloitte has already established a presence in Israel with its Rubix project, a platform that allows developers to create customizable Blockchains and smart contract applications.
- OpenLedger’s Apptrade (www.apptrade.io), the platform creating “Kickstarter for Apps on the Blockchain”, has received a $100,000 USD boost from OpenLedger ApS, the world’s first blockchain powered conglomerate. Powered by the digital token APPX, Apptrade creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Ronny Boesing, CEO of OpenLedger ApS, explained that Apptrade’s initial token offering (ITO) changed its valuation in the middle of its crowd sale as an immediate response to the result of its preliminary offering. Boesing said, “The Apptrade platform is much too important to not succeed, and it was clear that we needed to adjust the valuation to make it more appealing to anyone deciding to participate. In addition, we wanted to show our belief in this project, and felt that there was no better way to show this than putting our money where our mouth is. OpenLedger will be adding a total of $100 000 USD to the Crowdsale over the next 7 days.” The minimum fundraising goal is $1M USD with a cap of $5M USD. With a total of 8.25M APPX tokens on offer, OpenLedger’s Apptrade ApS will back these tokens with 20% of the future revenue from the Apptrade platform, and any unsold tokens will therefore be distributed proportionally to all participants. All early bird participants, as well new participants, will receive the extra tokens according to the published Stage 1 structure, plus benefit from the additional tokens to be divided. Daniel Pineda, Founder of Apptrade says, “After listening carefully to feedback from public and private supporters, and with great consideration, we decided to update our master token valuation. We firmly believe that our platform, built on the ecosystem of OpenLedger and powerful BitShares financial trading technology, is a strong Blockchain project that will be a success for years to come. We feel that this is the right action to ensure a satisfactory outcome for all.” Apptrade’s final valuation is going to be based on the amount raised, whether $1M USD as its threshold or money back guarantee, or the maximum of $5M USD. The valuation of the Apptrade platform will be determined on what is raised. The deadline according to the escrow agreement is set to end on April 30 2017. Boesing continued, “This approach and change of valuation resulted from requests from within the community, and we hope to accommodate many more participants. But one thing is clear to all of the Early Birds – this is your lucky day!” - March 27, 2017
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