German Businesses Believe Blockchain Will Be Impactful As Internet


Recently Bitkom and the German Federal Association for Information Technology conducted a survey that explored the attitudes of top companies in the country towards the blockchain technology.

The study found out that over a third of big businesses in Germany considered the nascent technology as revolutionary as the internet itself.

Could Germany Be A Leader In Blockchain Technology

The survey notes that the blockchain technology is among the three areas of development that have tremendous potential including AI and IoT.

The study found that 15 percent of the big German companies believed the blockchain would change the society and the economy as much as the internet has done. Companies with 500 or more employees were twice more likely to hold that opinion at 36 percent.

Also, 46 percent of those surveyed classified Germany as a latecomer when it comes to blockchain adoption. Matter of fact 40 percent of the respondents didn’t see the country as a leader but somewhere in the middle when it comes to blockchain development.

Bitkom is a new media platform, and it has carried out extensive surveys on cryptocurrencies and the blockchain among businesses and the German public to find out how they are perceived.

In November, a study by Bitkom found out that around 60 percent of local companies in the European nation were hesitant towards the blockchain. It’s mainly due to the perceived lack of practical applications of the technology.

Also, in another study conducted in February of 2018, the company found out that 64 percent of German citizens had heard of Bitcoin. The report noted that the awareness levels had double since 2016.

Of the respondents, 4 percent admitted to owning Bitcoin while another 19 percent said they had an idea of how to purchase the currency. However, 72 percent of the respondents said they didn’t want anything to do with the cryptocurrency.

Bernhard Rohleder, the CEO of Bitkom said that Bitcoin and other cryptocurrencies offer an excellent example of how the digital age is changing the financial world.

He concluded that their underlying technology, the blockchain will impact the whole economy.

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