In Germany, 6.9 percent of companies currently use or plan to use blockchain technology for their business processes. 18.7 percent of all companies surveyed are discussing an introduction, the Ifo Institute reports.
“Of course, there are already numerous pilot projects in a wide variety of industries that are based on the blockchain,” says Ifo industry expert Anna Wolf. “In the long run, it has the potential to significantly increase economic output.” Blockchain is a technology that evolved from cryptocurrencies. It can manage data in a distributed infrastructure without a central authority. This ensures transparency, security and trust in transactions, according to the institute.
“If you take a closer look at individual economic sectors, you can see that the manufacturing industry is relatively advanced in terms of using blockchain,” says Wolf. There, 12 percent of companies are using or planning to use the technology, and nearly one in four companies (24 percent) are in talks about it.
Chemical industry in particular blockchain affinity
The chemical industry in Germany is particularly advanced when it comes to blockchain: 14 percent of companies there use the technology for their business processes. In the automotive industry this is 13 percent, while about one in five companies plan to use it. Among the manufacturers of food and feed, printing, data processing equipment, electrical equipment, furniture and machine building, blockchain technology is used or planned by at least one in ten companies. “In contrast, there are significantly fewer in the services sector, in trade and in the main construction industry.”
The issue of attitudes towards blockchain technology was raised in June by the Munich researchers on behalf of the Hanseatic Blockchain Institute eV in the Ifo company surveys, which are based on around 9,000 company reports.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
