German Big Businesses Considers Blockchain Tech as Revolutionary as Internet

Article by · December 6, 2018 ·

A recent research carried out by the German Federal Association for Information Technology, Telecommunications and New Media (Bitkom) revealed that more than one-third of the big institution in Germany take blockchain technology as impactful as the Internet, according to Cointelegraph auf Deutsch report, Dec. 4.

The survey reported that blockchain technology is among the most recent three fields of development with “tremendous potential,” in addition to artificial intelligence (AI) and the Internet of things (IoT).

The research shows that a total of 15 percent of German industries are optimistic that blockchain will “change society and the economy as much as the Internet.” Bigger industries, with about 500 or more staffs, were more than half as possible to hold that concept, at 36 percent.

Similarly, Germany was classified by about 46 percent of the surveyed companies as a “latecomer” in the adoption of the blockchain, as it is lagging behind other nations. According to a large group of respondents, about 40 percent stated that they look at the country, not as a leader, however somewhere in the middle when it comes to blockchain development.

Bitkom has carried out a widespread research of businesses and the German public with regard to cryptocurrencies, the blockchain, and the way they are seen. A Bitkom research in late November showed that about 60 percent of local industries are being careful when approaching the topic of the blockchain, basically as a result of a  perceived absence of practical applications.

Also in February this year, another research by Bitkom revealed that about 64 percent of Germans have knowledge of Bitcoin (BTC). According to the report, the awareness had twice increased since 2016. Actually, about 4 percent of respondents held Bitcoin coin, whereas 19 percent stated that they are aware of how to purchase the seminal cryptocurrency and according to 72 percent of the respondents, they had no interest in the digital currency.

Bitkom CEO, Bernhard Rohleder stated with regard to the economic significance of cryptocurrencies and Blockchain that:

“Bitcoin and other cryptocurrencies are a good example of how the digital age is able to change the financial world. This is not so much about the individual currency itself as it is about the underlying blockchain technology. It will have an impact on the whole economy.”

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