Over One-third of Big Businesses Find Blockchain as Radical, Reports

By Kapil Gauhar

According to a recent Blockchain survey reports, more than 33% of German big shots consider blockchain as radical as the Internet. The survey was conducted by the German Federal Association for Information Technology, Telecommunications, and New Media. It revealed that 15% of the German firms believe that Blockchain will revolutionize the economy and society as much as the Internet. Enterprises with over 500 employees were much determined in their belief.

The survey reports –

“In addition to artificial intelligence (AI) and the Internet of things (IoT), blockchain technology is one of the current three areas of development with tremendous potential.”

Around 46% of the surveyed organizations labeled Germany, a latecomer in blockchain adoption. A significant number of respondents said that the country still needs to grow a lot when it is about blockchain development. Furthermore, It has to take sincere endeavors when it is about mass adoption.

Bitkom Efforts On Blockchain Development

A Bitkom survey, in February 2018, found that 64% of Germans were aware of Bitcoin. According to the report, awareness had doubled since 2016. 4% of respondents held Bitcoin, while 19% said that they have an idea of how to buy the currency and 72% stated to have no interest in Cryptocurrency at all.

Bitkom did extensive polls of businesses as well as the German people regarding the blockchain, cryptocurrencies and how they are perceived. Late in November, A Bitkom survey revealed about 60% of local companies are wary of approaching the topic of the blockchain, particularly owing to a perceived lack of practical applications.

While talking about the economic impact of cryptocurrencies and blockchain, the CEO of Bitkom Bernhard Rohleder said –

“Bitcoin and other cryptocurrencies are a good example of how the digital age can 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.”