The growth and popularity that the crypto industry experiencing is undeniable. In Europe, especially Eastern Europe and Russia, the development seems plenty. Tel Aviv, known to generate successful startups and other technological developments, has now entered the competitive crypto ring.
Many industries want to flexibly incorporate the blockchain technology in their field even as the future remains highly unpredictable. Potential start-up investment group companies like BlockchainIL, CoinTree Capital, and Singulariteam Technology Group intend to invest in each Israeli blockchain on offer.
Companies transforming the block
Dmitrii Ermolaev has come up with Erachain, a decentralized platform that backs all coin with a real asset as well as integrating European laws into the system. Its proof of stake system makes it applicable to government institutions where verification-upon-registration is necessary to eliminate anonymous transactions.
Zen Protocol wants to link the real-world commodities and stocks with crypto assets without the aid of a trusted third like a bank. It seeks to use a Proof-of-work system that combines bitcoin and blockchain to decentralize the financial system.
COTI also intends to offer customers with scalable secure and instant transactions that are anti-fraud and involve zero fees. Jelurida and crowd are investing in blockchain platforms that aimed at eliminating intermediaries to reduce costs. Orbs aim to covert transactions to another database structure to increase the speed of blockchain transactions.
As Tel Aviv joins the blockchain wagon, Switzerland, the crypto valley for virtual money, senses a big competition.