30% Major Surge In Blockchain And Crypto-associated Firms In Israel, Report Showed

By Robin Wong | January 6, 2020

The number of Israel-based businesses, which associate with blockchain and crypto, has witnessed a major incline, specifically 32% within last year, as revealed by the Israeli Bitcoin Association.

According to the agency’s report, a total of 150 establishments are still running normal operation the blockchain and crypto sector throughout 2019 up to now, which is an increase compared to the 113 figure 2 years ago. 

In the 113 active firms in 2018, about 55% (63) are still running today, and the details about the other 45% cannot be obtained. The Association suggested that such firms were not able to sail their businesses through the rough waters of 2019. 

Despite the fact that the exact number of individuals, which are still a part of the currently active firms’ workforce, is unavailable in the report, it has undergone a significant downsizing last year, compared to the figure back in 2018 and 2017. 10 is the average number of human resources working at those companies. 

Startups, which have been set up within a 3-year timeframe, account for the most of the active companies. 30% of firms still operating today began working since 2017 and 2018. 

financing sources-wise, 44% of blockchain and crypto-focused firms in Israel are self-funded last year, while 42% receive financial investments from investors. The primary financial source for 7% reportedly is independent income.

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