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More than one-third of German businesses see blockchain technology as effective as internet

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A recent survey reported that one third of German big businesses regard blockchain technology as effective as the internet. The survey reported that blockchain technology is one of the current area of development with tremendous potential.


The survey which was conducted by German Federal Association for Information Technology, Telecommunications and New media (Bitkom), revealed that 15% of companies in Germany have the idea that blockchain will "change society and the economy as much as the Internet".


Meanwhile about 46% of the surveyed companies classified Germany lagging behind other nations in terms of blockchain adoption. 48% of respondents said the country is somewhere in the middle as per blockchain development.


Some extensive polls have been conducted by Bitkom, in order to know how businesses and the German public as a whole perceive blockchain and cryptocurrencies.


A Bitcoin survey conducted in November showed that about 60% of local companies are not eager to approach the topic "blockchain" due to a perceived lack of practical applications.


Another Bitkom survey conducted  revealed that 64% of Germans know about Bitcoin. According to the report, awareness has increased since 2016. 19% have an idea of how the cryptocurrency is purchased, while 4% held Bitcoin and 72% claimed they were not interested in digital currency.


As regards the economic implication of Blockchain and cryptocurrencies, Bernhard Rohleder, the CEO of Bitkom said: "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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