For a country the size of Wales or New Jersey, Israel is sure making waves economically. What was once (only 70 years ago) desert, swamps and sand dunes, has not become the start up capital of the world. Second only to Silicone valley in terms of creativity, Israel has been at the forefront of technological innovation for a good decade. Supplied by a continuous stream of new immigrants, the need to learn hebrew to prosper in Israel has been replaced with the need to learn coding.
After dominating the forex trading markets for years, Israel turned to Binary Options. Following a number of high profile scandals and revelations about scams emanating from the small country ranked in the top 20 for development by the UN. Since the regulators clamped down on the Binary Options industry, even imposing jail terms on some of the more unscrupulous operators, the tech-heads have turned their attention to Fintech and Cryptocurrencies.
The murky world of cryptocurrencies is still very much needing to sort itself out. Compared to a runaway juggernaut, nobody really knows where the crypto and blockchain revolution will end up. What is known however, is that Israeli startups are leading the charge in the fintech industry. Specializing in business loans and personal loans for debt consolidation, Israeli tech and israeli ingenuity is leading the way and ensuring the israeli tradition of making money online continues.
Whilst the Fintech industry is still in its infancy, whether it goes down the slippery route of Binary Options, remains to be seen. However, what we do know is that the Fintech Industry is being shaken up and Israel is doing the shaking.