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.