According to Globes, a survey conducted by the Israeli Bitcoin Association (IBA) in cooperation with Sphinx research shows that not only have blockchain companies established in Israel been severely affected in recent years, but the creation of new companies in the industry has also almost completely stalled. The survey shows that in the blockchain field, 59% of Israeli companies were established in 2017-2018, which is the most prosperous two years in the field in the past decade. The survey found that most Israeli blockchain companies are relatively young. Only 8 of them (6% of the total) were established in 2012 or before. There were 38 companies established in 2017, accounting for 28%; 41 companies established in 2018, accounting for 30%.