Israel Poised to Become a Major Blockchain Innovation Hub

Leading the way in research and development expenditures of GDP by percent, cultivating a thriving startup culture comparable to Silicon Valley, Israel is one to watch in the world of blockchain tech innovation.

The United States fell off this list for the first time ever in its six years of existence, pushed to number 11.#Israel is Saving Millions for #CryptoInvestors, Cuts Down Crypto Taxes by 50%#Cryptocurrency investors in Israel can heave a sigh of relief as the government looks for alternative and more transparent ways to calculate taxes.

SnipersTube October 10, 2018.The amount of tech innovation happening in Israel means plenty of scientists with expertise in cryptography, fintech, and cybersecurity, all essential elements to any blockchain venture.

At the start of 2018, Israel had 88 blockchain and cryptocurrency startups, with a large portion of them in the fintech sector at 39 percent of companies.

They're far from the only categories blockchain companies in Israel are developing in.

Agriculture, education, healthcare and even automotive are all listed on the Israeli Blockchain Association's map of blockchain startups.

Aims to give patients more power over their medical records by using the blockchain to grant permission-based access.

On the regulation of public ICOs, which has reportedly moved forward with respect to blockchain and cryptocurrency innovation.

To create a software for digital bank guarantees based on blockchain technology, making it the first banking institution in Israel to utilize blockchain tech for financial contracts.

Startups and nonprofits in Israel are now focusing on education, evangelizing the importance of the blockchain and working to increase adoption - which is still relatively slow compared to countries like Korea, China, and Japan, but nonetheless, on the right path.