Israel is at the ‘Leading Edge’ for Bitcoin Startups
According to mathematician Meni Rosenfeld, Israel is a Bitcoin “forerunner.” With large numbers of users in the country, the number of startups and merchants continues to grow. Rosenfeld says: Among the list of Israel-based startups, Bits of Gold — in which Rosenfeld is an investor — GetGems and Polycoin lead adoption. “I think the Bitcoin community in Israel is more coherent than in many other places in the world, which can be attributed to the small size of the country. Everyone is in driving distance from anyone else, so its much easier to breed communities that actually meet up and....
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The number of fintech and cryptocurrency startups in Israel have increased in the past few years, strengthing the country's position in the sector. Israel has been one of the fastest growing startup hubs for a while, now the country is also making a place for itself in the financial technology map. The majority of startups in the Israeli startup ecosystem are now focused on fintech and blockchain technology. According to reports, the number of startups in the fintech sector has increased fourfold from 90 to 430 within a span of 7 years. The cryptocurrency industry has already seen a....
The Bitcoin community in Israel has made considerable waves over the past year. A meetup group that, one year ago, had less than twenty people attending every month, now has over sixty people attending every two weeks, with a record of over three hundred in April. The Israeli Bitcoin Facebook group recently grew to over 800 members, an impressive amount for a country of only eight million. Tel Aviv, a city of 410,000, has no less than three Bitcoin-accepting restaurants - a higher density than even that of Berlin. Finally, perhaps most importantly of all, Israel is know worldwide for being....
A new report from global professional services firm Deloitte focuses on Israel's development into a blockchain hub, outlining the work of a number of startups working on distributed ledger solutions across a variety of industries. "The country’s unique experience with FinTech, cyber and cryptography, has positioned Israel as a hotspot for blockchain innovation," Deloitte says. The report provides an overview of blockchain technology and its use cases and introduces 38 young firms that it believes are "leading the blockchain revolution" in the Middle Eastern nation. Each....
The possibility of issuing a cryptocurrency fills the Central Bank of Israel with enthusiasm. A digital shekel has come from merely a theory to a persistent search for possible solutions. Their pros and cons list seems to have grown, leading them to be on the lookout for answers and new ideas. Back in June, Bank […]
New legislation introducing tighter restrictions on payments with large sums of cash will enter into force in Israel on Monday. The goal, as stated by the country’s tax authority, is to improve the fight against organized crime, money laundering, and tax evasion. Critics doubt the law will achieve that. Authorities in Israel Go After Cash Purchases, Introduce Lower Limits Payments of large sums of money in cash and bank checks will be further restricted in Israel by amendments set to take effect on Aug. 1. Tax officials want to further reduce the circulation of cash in the country,....