The Barriers:
How does Israel lose one of the significant technological revolutions of the 21st century, and what needs to be done about it?
The last two years shone favorably on the industry of cryptocurrency, metaverse, and Web 3.0. Blockchain-based technologies have expanded beyond bitcoin and digital currencies and are helping to establish companies that employ thousands of workers in Israel and attract billions in investments.
This document was prepared by the Crypto Companies Forum, founded by the companies and organizations leading the cryptocurrency, blockchain, Bitcoin, Web 3.0, and metaverse industry in Israel, among which are Aleph, Bits of Gold, Blox, Celsius, Collider Ventures, Dcentralab, Efficient Frontier, Fuse, and the Israel Bitcoin Association.
The Challenges
The Opportunity:
Israeli companies hold key positions in the emerging digital asset market, reaching $2.5 trillion last November. Two [1] Israeli companies active in this field are unicorns, while many others have the opportunity to develop and grow in Israel. Moreover, according to a KPMG report, some $30.2 billion was invested in cryptocurrency, blockchain, and Web 3.0 companies worldwide in 2021, while according to SNC, $1.726 billion was invested in Israeli companies in the field during this period, constituting approximately 5.2% of the total investment in the digital assets market in the world.
The Problem:
Multiple barriers prevent companies from developing in Israel and cause investors to mark the activity in Israel as a risk, thus leading companies and investors to move out of Israel.
