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Tensions Flare During National Holiday: Israel and Palestine Clash
As the world watched, conflict erupted between Israel and Palestine during the recent national holiday period. On the morning of October 7th, the Palestinian armed group Hamas dispatched dozens of gunmen to carry out attacks in southern Israel, and the confrontation continues to this day.
Israel, a small nation of under 10 million people located in Western Asia, is a powerhouse of technological innovation. It has already produced 97 “unicorn” companies (startups valued at over $1 billion) and boasts the highest per capita entrepreneurship rate globally.
Israel is also a hub of Web3 innovation, with many renowned teams originating from the country. One such example is Fireblocks, a New York-based startup founded in 2018 by a trio of Israeli security engineers – Michael Shauolov, Idan Ofrat, and Pavel Berengoltz.
The Fireblocks team has deep expertise in the cybersecurity field. Recognizing the growing security challenges posed by blockchain technology and digital assets, they set out to create a secure and user-friendly platform to help financial institutions leverage the benefits of blockchain while protecting their digital assets from cyber threats.
Fireblocks’ Unique Advantages:
1. Operational Convenience: The platform simplifies the complexities of crypto asset management, allowing even less experienced employees to smoothly handle token transactions and avoid costly mistakes.
2. Robust Security: Fireblocks employs advanced security measures, including multi-party computation (MPC) algorithms, cloud-based deployments, and hardware-based trusted execution environments (TEEs) to safeguard digital assets.
3. Scalability: The system is designed to handle rapidly increasing user numbers and transaction volumes, supporting a wide range of use cases from cross-border payments to stablecoin issuance and NFT management.
Fireblocks’ success is evident in its impressive growth – from just 5 clients at inception to over 1,600 institutional customers today. The company has raised a total of $1 billion in funding, with its latest $550 million Series E round in January 2022. Remarkably, Fireblocks now processes over $4 trillion in transaction volume and secures $45 billion in digital assets.
As the Web3 industry continues to evolve, Fireblocks is positioning itself as a trusted partner for both traditional enterprises and emerging Web3 projects, helping them navigate the complexities of digital asset management and unlock the full potential of blockchain technology.