There has been a growth in the area of blockchain and cryptocurrencies in Israel. Thus making Startups who work on such technologies obtain funding easily. In 2018, Startups in Israel have raised approximate of $600 Million through ICO(Initial coin offering).
According to the research by One Alpha, which is a cryptocurrency analytics and research company has surveyed ICO’s and blockchain projects around the world. And since one year they have been studying Israel.
The Survey States that in Israel, 140 Active Blockchain Companies have received an investment of $1.3 billion. 60 percent of the companies and 88 percent of funds are based on ICO’s. Also, the funds raised by ICO’s is greater than startups getting investment from Venture Capital and Angel investors.
But Considering the funds received in 2017’s by ICO’s at Israel, there is an increase in sales. One Alpha states in 2017 the ICO’s sold tokens for a total of $500 million compared to 2018 where they sold $600 million. There is a total of $100 million increase in the ICO’s sales.
The report by One Alpha also talks about cryptocurrency regulations and mentions,
Israeli regulation is quickly shaping to become one of the most advanced in the world. A new law, which regulates virtual currencies, came into being on October 1, 2018.
Israel is also implementing blockchain in various fields. Such as last time we had seen Blockchain used in Cybersecurity By Israel Authorities. This shows how the blockchain technology is very much welcomed in the country.
However, the Growth of Startups in a country will also help the economy and through ICO’s if the Startups in Israel are obtaining $600 Million in one year, it’s a great way they are proceeding and maybe by the end of the year, they will acquire more.