Israeli blockchain – 11 selected startups Spondoolies-Tech CoinSpark Founded: 2013 Founded: 2014 Management: CEO Guy Corem, COO Kobi Levin Management: CEO & Founder Gideon Greenspan, CTO Michael Employees: 11 – 50 Rozantsev Company type: Private employees: 1 – 10 Funding: $6.5 million Company type: Private Sub-space: Hardware Funding stage: Bootstrapped Website: www.spondoolies-tech.com Sub-space: P2P Website: coinspark.org Spondoolies-Tech is a company focused on building mining rigs for CoinSpark allows users to send private messages attached to Bitcoin cryptocurrency. Currently the subsidy is 25 bitcoins, but this value will be transactions. This technology adds a personal touch to the exchanges of halved approximately every four years. This process allows new coins to be cryptocurrencies. “Every payment system has a way to attach information disseminated in the market in a decentralized manner and also motivates with payment, so if you’re sending money, you have the opportunity to people to provide security for the system. The process is intentionally explain if this is payment for a contract or it’s an investment in a company. designed to require significant computational power so that the number of That’s kind of necessary or the recipient might not always know what the blocks mined each day remains steady. Spondoolies-Tech specializes in purpose of a transaction is, and that’s something that’s always been missing producing this complex equipment. from Bitcoin,” said CEO Gideon Greenspan. If Bitcoin hopes to compete with digital exchanges such as PayPal or SWIFT, then adding personal The company constructs easy to use machines that are relatively simple to messages to transactions is a necessary component. set up, and are designed for both private and commercial users. In 2014 Spondoolies-Tech launched five different products and produced $28 million CoinSpark’s parent company, Coin Sciences, also offers a product called in revenue. In 2015 the company merged with Bitcoin Shop, a Bitcoin- MultiChain that allows organizations to rapidly design and operate private specific retail website. distributed ledgers. The public nature of the Bitcoin blockchain presents several security drawbacks. With MultiChain, companies have far greater control, including limiting who can connect to their blockchain, who can send and receive transactions, and who can create assets and blocks. Simplex Simplex provides Bitcoin exchanges, broker websites and Founded: 2014 wallet applications with a safe, fraud-free and fully protected Management: CTO Erez Shapira, CRO Netanel Kabala, CEO Nimrod Lehavi platform for selling Bitcoins online. Simplex is unique in Employees: 11 – 50 offering the ability for users to buy Bitcoin online via credit Company type: Private card transactions. Funding: $8.4 million in 2 rounds The company has no minimum amount of purchase, can be Sub-space: Buy and Sell accessed globally and has low barriers to entry for users Website: www.simplexcc.com without strong technical knowledge. In the event of fraud or a chargeback, Simplex absorbs the cost and the customer still receives the money. 20