Israel’s startups rely on Blockchain and Fintech

Israel’s start-up scene is one of the fastest growing in the world, focusing more and more on Fintech and Blockchain. According to a report by Deloitte, the number of start-ups from the financial sector has increased from 90 to 430, within seven years. In the meantime, there are already a handful of companies specializing in Bitcoin and Blockchain applications. Correspondingly, the start-ups cover the following topics: security, hardware, new digital currencies, payment processing and online trading.

In a start-up magazine, some of these Israeli startups appeared, highlighting blockchain technology. One of these startups is La’Zooz, which wants to compete with its ride or taxiapp on a blockchain basis. The platform uses tokens named Zooz, which can be earned if you drive with your car other people who then pay with Zooz – all transactions are recorded in the blockchain, of course. Another startup named Revelator has been developed by Colu. Colu is a Coin, who is to regulate digital property rights in the music industry. The platform can be used to give private users or music subscribers the opportunity to market their content.

In addition, the two blockchain platforms Waves and Synereo with their own cryptocurrency ecosystem would be mentioned here. Both platforms offer the user the opportunity to develop and distribute their own tokens. Decentralized applications (DApps) can also be represented with the two blockchain platforms. Synereo has developed its own programming language and offers cloud storage on a block-based basis to compete with Ethereum.

The financial institutions in Israel also share interest in the blockchain and fintech solutions. So some banks, such as the bank Leumi and Ha’Poalim, have already made investments in the startup scene. The goal is to be able to compete with other Fintech innovation centers such as London or Singapore and to make Isreal a leader in the field of blockchain.

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