6.9 percent of German companies in favor of blockchain

July 31, 2023

Almost one in five companies is discussing it – chemical industry particularly far ahead

Pilot projects based on blockchain: Only 6.9 percent of companies in Germany currently have these in the pipeline. According to a survey by the ifo Institute (https://www.ifo.de), however, there is openness in principle to this technology. As many as 18.7 percent of all companies surveyed are discussing its introduction.

Industry also interested
Blockchain is a technology that emerged from cryptocurrencies. It can manage data in a distributed infrastructure without a central instance. This creates transparency, security and trust in transactions – not least thanks to new scientific approaches in the field. “The manufacturing sector is comparatively far along when it comes to using blockchain,” says ifo industry expert Anna Wolf. Twelve percent of companies there use the technology or are planning to use it, and almost one in four companies (24 percent) are discussing it. The chemical industry is particularly far advanced in terms of blockchain. There, 14 percent of companies use the technology for their business processes.

Major industry differences
Surprisingly, according to the survey, only 13 percent of companies in the automotive industry are using blockchain technology and one in five are planning to use it. Among manufacturers of food and animal feed, printed matter, data processing equipment, electrical equipment, furniture and in mechanical engineering, this applies to one in ten companies.

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