The Israeli Blockchain Association reported that the number of blockchain startups within the country now exceeds 200, tripling the number since the beginning of 2018. The information comes from the association’s quarterly Israeli Blockchain Startup Map, that also projects blockchain growth to continue into 2019 with a doubling of the total number to occur.
Gadi Isaev, a managing partner of the Israeli Blockchain Association, talked about the impact this has on the country, saying that, “Israel has a good chance to strengthen its Startup Nation brand, as well as become the Blockchain Nation. This is happening thanks to effective regulation and the close cooperation of many blockchain startups with educational and academic research organizations.”
A large increase in blockchain companies occurred in the Security sector, with 23 startups operating in that field. It is far from the largest sector overall, however, with Protocols/Core Infrastructure holding 37 startups, and Fintech offering the most with 57 companies in total. However, not every startup in the report has met with success, with 20 companies ceasing their operations since the beginning of the year.
In addition to the forecasted doubling of blockchains in 2019, the association predicts an increased role of academic structures within startup companies. A radical growth of “non-native” blockchain startups is also a potential, thanks to A & B rounds undergoing a blockchain transformation.
