Israeli blockchain startups are facing a desperate challenge of lack of employees as the war with Hamas escalates. The lack of shortage comes from military reserve call-ups to fill the army amid war.
Co-founder of Blockworks, Jason Yanowitz, commented on the difficulties among startups. He emphasized on operational difficulties caused to such nascent startup.
A lot of folks are getting called up to the reserves right now
Jason Yanowitz, Co-founder and former employee of Blockworks.
People step up during war to save blockchain startups
Yanowitz was at an Empire podcast where he revealed Zoe and Michael Burian, a couple who has lived in and worked in Israel, have been helping regional startups in this difficult period. He further revealed that a healthcare investor at Insight Partners that goes by the name Shalva Gozland shared over 400 skilled professionals from various domains on X (Twitter). Theseprofessionals will volunteer for crypto startups in Israel.
The listed volunteers would create an impact since they will specify their skills and availability on the form. It will fill the gap created by the reserve call-ups. Gozland’s initiative could be a relief for startups struggling with lack for employees.
An Israeli-New york based startup called Chaos Labs specializing in security solutions for crypto projects is one major example that has been affected due to the war.
If you have a lot of employees in the reserves, that means half your staff is gone and not working
Santiago Santos, another Web3 investor, observed that many of his companies have a direct presence in Israel or have some employees either living or working there. He highlighted that there is an abundance of talent in Israel and that the ecosystem around cybersecurity is thriving.
Crypto fund for Israel war
The crypto community in Israel has come together to launch the “Crypto Aid Israel” initiative as the war intensifies. They have set up a multi-signature wallet controlled by multiple stakeholders to accept the crypto donations. Bitcoin, Ethereum, USDT and USDC will be accepted as donations by the fund.
Israeli and global crypto communities are leveraging blockchain technology to support Israel during a challenging period. These initiatives provide hope and practical assistance to startups navigating these turbulent times.
