Research: more than a third of German companies consider blockchain a revolutionary technology

Research: more than a third of German companies consider blockchain a revolutionary technology06.12.2018


Research: more than a third of German companies consider blockchain a revolutionary technology

More than a third of large German companies consider the blockchain technology as revolutionary, like the Internet. This is evidenced by the survey of the Federal Association for Information Technology, Telecommunications and New Media (Bitkom).

The study reports that in addition to artificial intelligence (AI) and the Internet of things (IoT), the blockchain is one of the three current areas of development, with “enormous potential”.

According to the survey, 15% of German companies said that the blockchain "will change society and the economy in the same way as the Internet." This opinion is also supported by large companies with more than 500 employees - 36%.

At the same time, about 46% of respondents called Germany “a late in blockchain development country” compared to other countries. A large proportion of respondents - 40% - stated that they see the country not in the front row, but somewhere in the middle.

 

At the end of November last year, Bitkom conducted detailed surveys of heads of enterprises and residents. According to the study, about 60% of local companies are hesitant to consider the use of the blockchain mainly due to the lack of practical applications.

In February 2018, another Bitkom survey showed that 64% of Germans are familiar with Bitcoin, and the level of awareness has increased since 2016. The study showed that 4% of respondents occupied bitcoins, 19% thought about purchasing cryptocurrency, and 72% said they were not interested in it.

Speaking about the economic importance of digital currencies and blockchain, Bitkom CEO Bernhard Rohleder emphasized that Bitcoin and other cryptocurrencies are a good example of how the digital age can change the financial world. In his opinion, it is not so much about the cryptocurrencies themselves, but rather about their basic technology, which will affect the entire economy.

 

We will remind that earlier a similar poll was conducted by the auditing company Deloitte. The study involved more than 1,000 company executives from the USA, Canada, Mexico, the UK, France, Germany and China. As shown by the survey results, 39% of respondents believe that the potential of the blockchain is too overvalued.

And according to a study conducted by Gartner, out of 300 surveyed information technology managers (CIO), only 1% of organizations use blockchain in their business, 8% have experimented with it and plan to implement it, and 77% are not interested in it.

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