By George Labunsky


The global blockchain ecosystem is shifting from pure cryptocurrency and skyrocketing valuations to scalable blockchain products. For those unfamiliar, blockchain is a system recording information that makes it difficult or impossible to change, hack, or cheat the system. A blockchain is essentially a digital ledger of transactions duplicated and distributed across the entire network of computer systems on the blockchain.


After the hype of the crypto-goldrush subsided, attention shifted from enormous fundraises to projects like the ones you’ll read about below that could create meaningful products. As a result, projects are no longer designated mainly for raising money; instead, they are focused on actual products that can gain traction in the market. In the blockchain space – just like in any other startup field – projects that will not find their product-market fit will not be successful.


There are significant Israeli success stories of unicorns Fireblocks and Starkware, as well as exits of startups, namely Unbound Security’s acquisition by exchange giant Coinbase for over $150 million and that of Curv by PayPal for a sum estimated at $200 million. Nevertheless, there is almost a consensus that Israel’s tech sector has been slow in embracing the Web3 movement despite its global growth and incredible potential.


The following cutting-edge companies are recognized globally as contributing to blockchain innovation in Israel:


COTI is the developer of a proprietary blockchain protocol that can be used by enterprises and developers to build payment networks, issue stablecoins, and launch loyalty networks, with extreme scalability and near-zero fees. 


Crymbo enables financial firms to become meaningful players in the digital asset marketplace. Crymbo has created a network powered by clearing and settlement blockchain rails, providing any financial company with direct access to a wide selection of digital assets and decentralized financial products under a single platform with zero counter-party risk.


QEDIT leverages cutting-edge privacy-enhancing technology to help companies engage in secure data collaboration to safely unlock new value, make sharper business decisions, and tackle industry-wide challenges. Using QEDIT, enterprises can monetize, exchange, and analyze insights derived from external datasets without exposing the underlying data itself. 


SCRT Labs is the driving force and the founding core development team behind Secret Network. Its mission is to create products and systems that accelerate the adoption of privacy-first, decentralized technologies. SCRT Labs is utilizing state-of-the-art privacy enhancing technologies, particularly, Trusted Execution Environments (TEEs), combined with cryptographic protocols to build the world’s largest private computing ecosystem.


ZenGo is a non-custodial digital currency wallet that removes the need to secure and manage users’ private keys. ZenGo uses a mobile-first software approach with cutting-edge cryptography to secure clients’ crypto assets.



About the author:

George has an educational and professional background in blockchain, business, and sport management. He leads the AR/VR, Blockchain, Retail Tech, and Sports Tech verticals at the Israel Economic Mission to the West Coast.


Write to George Labunsky at