Germany’s Digital Association Bitkom Survey Deems Blockchain as Significant as the Internet

Germany is quickly becoming more and more supportive of the way that blockchain functions in their economy. A recent survey was taken regarding the technology, and it found that approximately 30% of the bigger businesses in Germany saw blockchain as a being equal to the innovation of the internet. The survey also shows that blockchain technology has “tremendous potential” in the area, along with artificial intelligence and the Internet of Things.

This survey was held by German Federal Association for Information Technology, Telecommunications and New Media (Bitkom). Essentially, there were 15% of the companies that believe in blockchain’s ability to “change society and the economy as much as the Internet.” However, when the surveyed participants included bigger companies, the opinion went up to 36%.

About 46% of the companies in the survey believe that Germany is a “latecomer” for blockchain, and see it as being behind other nations. Though Germany isn’t considered a leader by about 40% of respondents, they still think that they fall in the middle for development, rather than the bottom.

There’s been several elaborate polls in Germany for businesses and the public to show how they feel about topics like cryptocurrency and blockchain technology. One Bitkom survey showed that over half of the companies locally remain apprehensive about blockchain, simply because they don’t believe it has the widespread usage that it claims. Nine months earlier, a separate survey by Bitkom discovered that only 64% of German citizens even knew about Bitcoin at all, though that is double the percentage that was found in 2016.

Bernhard Rohleder, the CEO for Bitkom, spoke on how cryptocurrency and blockchain plays a major role in the economy. He added,

“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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