Three selected news about business, innovation and sustainability from Israel. Today the three fields are: Avraham Accords, Middle East Bankin AI, Blockchain in Israel.
Selected and brought to you by Naftali – doing business and searching for innovation and sustainability for 40 years.
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AVRAHAM ACCORDS > Morocco-Israel Sustainability
A new era of Israel-Morocco Business ties has launched following the successful “Morocco-Israel Connect to Innovate” conference which took place in Casablanca last week. The event, co-organised by Start-Up Nation Central, a non-profit organization that promotes Israeli innovation around the world and Morocco’s CPR, brought together government officials and 250 business leaders from the two countries and focused on ways to collaborate in main subjects of sustainabilty: the agrifood-tech, watertech, energy, logistics, and human capital sectors.
Israel, with more than 700 climate-tech companies, and Morocco, with its leading position in the field of alternative energy, and particularly solar technology, are well-positioned to tackle the challenge through joint initiatives that will aid not only the people of the MENA region but all over the globe.
What emerged from the many discussions was that Israel and Morocco share many of the same challenges, particularly when it comes to tackling the climate crisis and both its immediate and longer-term ramifications and the understanding that it is a challenge that cuts across all industries that demands solutions from multiple disciplines that must also stem from cross-border collaborations.
MIDDLE EAST BANKING AI > Award
ThetaRay, a leading fintech providing AI-powered transaction monitoring technology, today announced it was named winner of the “AML Solution Provider of the Year Award” by Middle East Banking AI & Analytics 2022.
The Middle East Banking AI & Analytics Summit, held in Dubai, UAE, on May 18-19, brought together executives from major Middle Eastern banks, consultants and fintech companies to examine how big data, AI and analytics can impact the financial services sector.
ThetaRay’s solution enables banks and fintechs to embed the trust into their global transactions that can expand business relationships and revenues by quickly and easily uncovering money laundering, terrorist financing, cyber-automated attacks, and other financial crimes. Leading global banks, payment service providers and government regulators have chosen and are fully operating ThetaRay’s transaction monitoring solution.
BLOCKCHAIN IN ISRAEL > StarkWare 8 Billion USD Valuation
StarkWare Industries, inventor of technology to make blockchain scalable for mass adoption, announced on Wednesday that it has raised $100M at a valuation of $8 billion.
StarkWare’s Series D funding comes six months after its Series C which valued the company at $2 billion. The new round led by Greenoaks Capital and Coatue, and includes Tiger Global and other new and existing investors. There is a secondary transaction as part of the round, in which employees company-wide are selling stocks.
StarkWare has deployed STARKs, a class of mathematical systems developed by company Co-founder and President Eli Ben-Sasson and other computer scientists, in order to enable far more efficient use of blockchain.
It cuts fees by reducing the amount of information written to the blockchain. It speeds up transactions by alleviating heavy blockchain congestion. And it provides a way for blockchain to scale without any dilution of its original vision – the math ensures it remains a network that runs with absolute integrity.