In State of israel, the number of blockchain and crypto-related companies increased past 32% in 2022, according to a study from the Israeli Bitcoin Association published on Dec. 30.

The report revealed that in that location were 150 active companies in the field in 2022, while at the terminate of 2022, the number was 113. Out of the 113 companies, just 63 continue to operate today, with the information about the residual of them unavailable. The Clan suggested this is because those companies did non survive the past year.

Other related statistics

Although the report did not provide data on the number of employees serving for the reported companies, it said that the staff size decreased significantly in 2022 every bit compared with 2022 and 2022. The data indicated that most of the companies had no more than than ten employees.

The report farther revealed that the majority of the companies were startups, operating within iii years, wherein 30% of currently active companies were established in 2022 and xxx% in 2022.

In terms of financing sources, 44% of crypto- and blockchain-related firms operating in State of israel were self-funded in 2022, while 42% raised funds from investors. At the same time, 7% of the companies reportedly rely on contained income to finance operations.

A blockchain-friendly hub

State of israel is known as a blockchain-friendly hub, ranking 49th out of 190 on the ease of doing business index, co-ordinate to the Doing Concern 2022 written report compiled by the Earth Bank. Notwithstanding, its overall score belies certain areas of difficulty for businesses like paying taxes, with State of israel'south rank existence 90th out of 190. Another problem spot is enforcing contracts, for which Israel once again ranks 90th.

Last Baronial, news broke that the Capital letter Market, Insurance and Saving Authority, a division of Israel's Ministry of Finance (MoF), was looking to accelerate the process of procuring licenses for blockchain and fintech companies in the state. The authority was hoping to foster local competition by licensing more than fintech companies.