Israeli blockchain – 11 selected startups Colu Wave Founded: 2014, Founded: 2014 Management: CEO Amos Meiri, CTO Rotem Lev, VP of R&D Management: CEO Gadi Ruschin, CTO Or Garbash, VP R&D Yair Sappir David Ring Employees: 1-10 Employees: 13 Company type: Private Company type: Private Funding Stage: Bootstrapped Funding: 2.5 million Sub-space: Other Sub-space: P2P Website: http://wavebl.com Website: www.colu.co Colu uses blockchain technology to allow users to buy and store goods WaveBLaims to replace the use of paper in international shipping online in a secure and validated process. The company raised $2.5 million in agreements by storing the documents electronically on a blockchain ledger. seed investment in January 2015. The founders of Colu originally started The service connects all members of the supply chain to a decentralized ColoredCoins.org, a service for creating digital assets on the Bitcoin network and allows them to directly exchange documents, including blockchain. Colu expanded on this idea by creating an application contracts, receipts, and travel logs. Wave manages ownership of documents programming interface for developers and offering an app for consumers to via blockchain technology which therefore eliminates disputes, forgeries and make purchases on anything from sporting tickets to art pieces. unnecessary risks (lost shipments, counterfeiting, etc.). Recently, Colu has formed over 20 partnerships with different operations The company was selected to participate in the Barclays Accelerator including Deloitte. The Colu-Deloitte partnership aims to leverage Deloitte’s program. industry knowledge and Colu’s technological expertise to bring blockchain to companies across industries. They strive as well to improve blockchain operations for companies already beyond the implementation stage. In addition, Colu has partnered with Revelator, a company which provides sales and marketing intelligence for independent music producers. Colu stores digital copies of songs on its blockchain platform. If anyone attempts to access the songs illegally, the creator is immediately notified and their protection is insured. Colu has also partnered with the online exchange company, Bitt, in an effort to bridge the gap between the bitcoin-style currency and physical money. Focused in the Caribbean where as many as 200,000 people have no bank account but do have smartphones, blockchain technology through Colu will allow these citizens to convert money stored in a digital wallet into bills at ATMs. Getgems Logical Form Founded: 2014 Founded: 2014 Management: CEO Daniel Peled Management: Founder Dror Sam Brama Employees: 8 Employees: 1-10 Company type: Non-public Company type: Non-public Funding: $400K Seed on January 4, 2015 Funding stage: Bootstrapped Subspace: Social Sub-space: Hardware Website: http://getgems.org Websites: https://logicalform.com CEO Daniel Peled established GetGems as a social messaging app that allows Logical Form is an innovative company founded by Dror Sam Brama. Logical users to send cryptocurrencies. Similar to Whatsapp or Telegram, users can Form provides apps and blockchain data templates for banks and message each other after exchanging phone numbers or usernames. enterprises. Although blockchain digital currencies, such as bitcoin, seek to However, each profile is attached to a virtual wallet, so in addition to replace banks, Logical Form uses blockchain to authenticate and track items sending messages users can also transmit virtual currency. Every time a user and records for banking institutions. By using Logical Form technologies, invites someone to download the app, they are rewarded with 25 gems. banks are able to mitigate double spending, issue authentication without Eventually, users will have the opportunity to receive gems for watching identification, and verify digital signatures. advertisements. These gems can be converted to other cryptocurrencies such as bitcoins, gift certificates, or actual dollars depending on the users’ Most companies founded on the Bitcoin blockchain seek to replace the preference. As of October 2015, the app had 15,000 users and raised need of “trusted parties” such as banks or governmental organizations. approximately $1 million in total funding, including investments from Logical Form assumes that these entities are here to stay, and concentrates Magma VC, one of the early investors of the crowd-sourced navigation app on effectively utilizing the blockchain algorithm. Waze. The startup was awarded the title of “most visionary social media solution” at the Citi Mobile Challenge in Europe, the Middle East and Africa out of 750 applicants from 101 countries. Citi described the app as “a solution that could transform financial services.” 18