Still little use of blockchain in Germany

The best-known implementation of the blockchain principle are digital currencies such as Bitcoin (Photo: REDPIXEL.PL / Shutterstock)

The German economy hardly gets bogged down with the use of blockchain technology – although many companies consider it to have a promising future.

In a survey by the digital association Bitkom, 87 percent of the companies said they had not yet dealt with the topic. That is practically the same percentage as three years ago. At the same time, however, 59 percent were of the opinion that Blockchain is seriously underestimated and be a future technology. Among larger companies with at least 2,000 employees, 82 percent were of this opinion.

With blockchain technology data is stored decentrally in many locations in the network, which is intended to reduce the risk of online attacks, among other things. In addition, data chains are formed so that every new transaction is appended to the information about the previous one. With this system, a blockchain should be forgery-proof. If one of the blocks is exchanged at one location, this is immediately noticeable when the decentralized copies of the data chain are compared.

The best-known implementation of the blockchain principle are digital currencies such as Bitcoin. But there are also solutions for securing the authenticity of articles or for identification functions in the network, among other things. That is why the use of the blockchain is also an option in administration – but there it is practically not used in Germany and it is also not assumed that “the knot will burst” there in the near future, said Bitkom Managing Director Bernhard Rawhide.

According to the survey, only one percent of companies are using solutions with blockchain technology, and the same number are in the test or implementation phase. Of the companies that are planning specific application scenarios, three quarters have an eye on finance and accounting.

Bitkom surveyed 652 companies with 50 or more employees in Germany for the representative survey. dpa

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