Despite everything that Israel has been through in the past 14 months, the tech ecosystem’s resilience never ceases to amaze. Despite an absurd nightly routine of Houthi missile attacks, the latest blockchain ecosystem events draw impressive turnouts with barely any seats left empty. The latest blockchain conference, which focused primarily on the industry’s future in Israel over the coming year, attracted a diverse audience beyond the crypto field, including investors, executives, and job seekers.
Over the past decade, Israel has become a central hub for the blockchain ecosystem, introducing top technologies in digital asset management and security to the world. Many entrepreneurs and investors have recognized the industry’s enormous potential and begun launching startups and investing in research and development.
Idan Ofrat, co-founder of blockchain unicorn Fireblocks, shared on stage during the industry’s latest event that the company processed over $3 trillion in transactions in 2024 alone. Approximately 50 percent of these transactions involved stablecoins, up from 45% at the beginning of the year.
"About 10% of all stablecoin traffic comes from payment companies, and this will be a significant use case in the coming years," Ofrat said.
The public sector has also begun showing interest in blockchain technologies as highlighted by the Bank of Israel and other financial institutions exploring the use of digital currencies in their operations. Ran (Goldi) Goldshtein, Senior Vice President of Payments at Fireblocks, discussed the "Eden" pilot project developed in collaboration with the Accountant General at the Treasury and the Israeli Stock Exchange, on stage.
"We created a platform for issuing bonds on the blockchain, which is drawing significant global attention," he adds. "Within a year or two, it’s likely almost every bank will engage with digital assets, with major advancements expected in banking and financial services," said Goldshtein.
Recovering tech industry means new career opportunities for local talent
As a direct result of industry growth, the blockchain ecosystem in Israel is also experiencing an increased demand for quality talent. Companies in the field are seeking professionals to fill roles in R&D, product, and marketing for the most part.
Oryan Almog, Talent Acquisition Manager at Fireblocks, highlights the company’s particular interest in talent coming from cyber and fintech backgrounds, addressing the potential gap between an industry in the hyper-growth phase and the lack of blockchain experience:”. “For many of our open positions, a background in blockchain is not a strict requirement. While it's certainly an advantage, what truly matters to us is finding individuals with a genuine passion and eagerness to dive into the field and make an impact.”
"We are looking for people who know how to work with different interfaces, take initiative, thrive in a dynamic environment, and of course, are team players. Because ultimately, even independent work requires interaction with multiple factors, especially in a global company like ours," said Almog.
Despite impressive progress, Israel’s Blockchain industry faces challenges. Regulatory uncertainty, security risks, and concerns about fraud may hinder its growth. However, the creativity and perseverance of Israeli entrepreneurs continue to place Israel at the forefront of the global Blockchain landscape, demonstrating a vision to integrate this technology into the economy and everyday life.