Home / Blockchain / Blockchain Technology: Blockchain Technology As Impactful As The Internet? Here’s What More Than One Third Of The German Based Businesses Think

Blockchain Technology: Blockchain Technology As Impactful As The Internet? Here’s What More Than One Third Of The German Based Businesses Think

A recent survey conducted in Germany showed that more than one third of the businesses in Germany believe that blockchain technology is as revolutionary as the internet. The survey was meant for blockchain as compared to the internet in terms of impact. However, it wasn’t limited to blockchain technology. Other emerging technologies like artificial intelligence and machine learning were also considered in the survey. The result of the survey is that these technologies have strong potential.

Blockchain Technology And The Internet

The study was conducted by Bitkom, the German Federal Association for IT, New Media and telecommunications. It showed that more than 15% of German based businesses that were involved in the survey believe that blockchain technology is as revolutionary as the internet and has the same disruptive effect. Most of the large companies believed this strongly.

During the survey, 46% of the companies involved considered Germany as a “latecomer” when it comes to blockchain adoption. They are lagging behind compared to other nations. Up to 40% of the participants said that they don’t see Germany as the leader in blockchain development but consider it as one of those in the middle.

Bitcoin (BTC) Price Today – BTC / USD

This isn’t the first time Bitkom is conducting surveys on cryptocurrencies and blockchain technology. They have conducted extensive polls in the past about this same issue. In November, the group conducted a survey that showed that more than 60% of the German based companies are still not comfortable with blockchain technology. The main reason behind this hesitant attitude is the unavailability of practical applications of the technology.

In February, Bitkom conducted a survey that revealed that 64% of all German citizens knew about Bitcoin. This was an improvement of the 2016 survey that showed that 72% had no interest in cryptocurrencies, 19% have an idea on how to buy cryptocurrencies, and only 4% had BTC in their wallets.

Talking about the economic significance of cryptocurrencies, the CEO of Bitkom, Bernhard Rohleder, said:

“BTC and other cryptocurrencies are typical examples of the disruptive effect the digital age will have on the financial world. I am not referring to cryptocurrencies alone but to blockchain technology. It is going to impact the whole economy.”


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