Solution for Arab-Israeli Conflict?

Can a multiethnic state be a solution for years of Arab-Israeli conflict? Let’s go to Europe and look at a real life example. Bosnia and Herzegovina was engulfed in a bloody war in early 90s. The area is composed of three nationalities, Bosniaks, Serbs and Croats, as well as three religions, Muslim, Orthodox and Catholic. In 1995 an agreement called Dayton agreement has been signed in which Serbs kept their conquered territory within Bosnia and Herzegovina.
Image sources:
1. Author: Mr. Edward J. Krasnoborski and Mr. Frank Martini, Department of History, U.S. Military Academy
Honza.havlicek (talk)

I, the copyright holder of this work, release this work into the public domain. This applies worldwide.
In some countries this may not be legally possible; if so:
I grant anyone the right to use this work for any purpose, without any conditions, unless such conditions are required by law.
2. Source: www.dodmedia.osd.mil
This image is a work of a U.S. military or Department of Defense employee, taken or made as part of that person's official duties. As a work of the U.S. federal government, the image is in the public domain in the United States.
3. Own work by author: Ilic

Ethnic map of Bosnia and Herzegovina according to the 2013 population census.
- Creative Commons Attribution-Share Alike 3.0 Serbia

4. Source: 20 years since NATO's first major peacekeeping operation
Author: NATO
This file is a work of an employee of the Executive Office of the President of the United States, taken or made as part of that person's official duties. As a work of the U.S. federal government, it is in the public domain.

5. Own work by author: PANONIAN
Political division of Bosnia and Herzegovina in 1995, after Dayton Agreement.
This file is made available under the Creative Commons CC0 1.0 Universal Public Domain Dedication. The person who associated a work with this deed has dedicated the work to the public domain by waiving all of their rights to the work worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law. You can copy, modify, distribute and perform the work, even for commercial purposes, all without asking permission.
6. Mostar Bridge
by oksmith
A public domain image uploaded to publicdomainvectors.org
7. Own work by author: Bjoertvedt
This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.

8. Saint James Church (St. Jakov) Medjugorje - Hotel Pansion Porta - Bosnia Herzegovina - Creative Commons by gnuckx
This file is licensed under the Creative Commons Attribution 2.0 Generic license.

9. Own work by author: JankoSam
This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.

10. Own work by author: Paaslo
Norwegian Sisu from NORLOGBAT APC at "Sniper Alley" in Sarajevo, December 1995
This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported, 2.5 Generic, 2.0 Generic and 1.0 Generic license.
11.
Croatian Parliament - ZAKON O GRBU, ZASTAVI I HIMNI RH TE ZASTAVI I LENTI PREDSJEDNIKA RH which based its decision on the design by Miroslav Šutej F.C.A. proposals.
Ma (based on Decision of the Parliament)
This work is not an object of copyright according to the Copyright and related rights act of the Republic of Croatia.
12. The Government of Serbia, National symbols[1]
This work is in the public domain because according to the Copyright Law of Serbia
13. This was drawn by Vernes Seferovic
This work is not an object of copyright according to the Law of Copyright and Related Rights in Bosnia and Herzegovina from 2010
14. Own work by author: Imer Muhovic
This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.
15. Source: en.wikipedia.org
This work has been released into the public domain by its author, Kbolino, at the English Wikipedia project. This applies worldwide.
16. Own work by author: Boris23
I, the copyright holder of this work, release this work into the public domain. This applies worldwide.
17. Own work by author: Ivan25
This file is licensed under the Creative Commons Attribution-Share Alike 4.0 International license.
18. Own work by author: Jeff Dahl
This file is licensed under the Creative Commons Attribution-Share Alike Attribution-Share Alike 4.0 International, 3.0 Unported, 2.5 Generic, 2.0 Generic and 1.0 Generic license.
19. Author: Original design by Max and Gabriel Shamir; Tonyjeff, based on national symbo
This work was created or ordered by the State of Israel, and is in the public domain because it satisfies one of the conditions stipulated in Israel's copyright statute from 2007 (translation) regarding the State's copyrights
20. These SVG images were created by modifying the images of Pixabay.
These are released under Creative Commons CC0.
Copyright svgsilh.com all rights reserved.