What about Blockchain in Germany? Bitkom has presented a new study. The results show that companies have recognized the potential of technology – but do not dare to use it. Instead, especially the small companies still hold back and wait for use cases. Blockchain is a relatively new technology that is being tested especially in logistics, in transportation or by banks.
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Five things Germany has to do now to push blockchain technology forward
According to Bitkom President Achim Berg, there are four things the federal government should do now to bring blockchain technology to the forefront:
- Blockchain has to be part of training and study programs, because: “We have seen in other technologies: If it lacks the brains, then it lacks even marketable applications,” says Berg.
- Massive support for research around Blockchain: be it application-based research clusters between industry and universities or funding programs that can benefit start-ups and small businesses alike
- Politics needs to wake up: it needs blockchain pilot projects, such as public registers. In addition, the legal framework for the use of Blockchain must stand. “For example, a token as a digital mechanism must have the same function as a paper document,” says Berg.
- Overall, Germany must become a pioneer in blockchain applications. For example, the blockchain is prominently anchored in the Digital Hub Initiative, says Berg. Businesses should go ahead, make and try
On behalf of Bitkom, 1,004 companies with 50 or more employees were interviewed for the study. The study was presented at the technology festival hub.berlin.
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Use of Blockchain in Germany – an intermediate state
The Bitkom study shows that only two percent of all companies with more than 50 employees use the Blockchain in their company. Only four percent plan to use, two percent discuss it.
Large companies, on the other hand, are advancing on the topic of blockchain: 17 percent of companies with 500 or more employees are already using blockchain technology. In 27 percent of large companies, the use is planned, at 11 percent is discussed. There are two key issues that are critical to the use of technology: increasing efficiency and building confidence.
Seventy-six percent of blockchain users, planners, and discussers are generally (more) a pioneer on blockchain. In a global comparison, the companies see the German economy on the subject of Blockchain maximum in midfield (57 percent).
“At Blockchain, we are currently in an experimental phase, with a broad range of truly day-to-day solutions missing, but Blockchain technology offers tremendous potential and can turn many of today’s common practices upside down already in the forefront of research and development, “says Bitkom President Achim Berg.
Be open to new technologies
Before companies decide to use new technologies, there has to be some openness to them. According to the results of the study, however, it shows that the openness to new technologies such as the Blockchain and dealing with this time needed. This is particularly evident when looking at other digital technologies such as cloud computing or Big Data & Analytics, which have been driving companies around for longer than the blockchain.
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German companies are reluctant to use Blockchain
For nine out of ten companies (89 percent), the use of blockchain in their own company is not an issue at present: 86 percent have simply not yet dealt with possible uses of blockchain in their own company. Although three percent have discussed this, they have deliberately decided against using it.
Just two percent are currently discussing whether and how blockchain technology could be used. At four percent, projects are actually in the planning stage, meaning that the companies are in the analysis and information phase or are implementing or testing initial projects. Another two percent are already beyond that, in these companies the first blockchain-based projects are live.
Even if few companies really have the blockchain or have integrated the technology into their systems, areas that are most likely to be used by Blockchain can be found. More than half of them work in accounting, finance and controlling with Blockchain, and one in three (34 percent) deals with the block chain in logistics and warehousing processes. An area to which the blockchain experts ascribe great potential. According to Bitkom, 11 of the 14 experts outlined blockchain use cases in connection with supply chains and logistics processes, or generally give the logistics industry great potential for using the blockchain.
Challenges of Blockchain
Blockchain is repeatedly compared to the development of the Internet. Six out of the 14 Blockkom experts polled by Blockkomine locate blockchain technology in 2018 at a developmental stage in which the Internet was in the 1990s – at a time when Bill Gates in 1993 voiced the much-cited misconception: “The Internet is just a hype. “
One in seven (15 percent) assumes that blockchain will change society and the economy as much as the Internet has done. Among Blockchain users, planners and discussors, more than one in three (37 percent) agree with this comparison.
The complete study can be downloaded here for free.
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