eco and YouGov: Blockchain could fundamentally change the German economy

Picture: Stephan Zimprich copyright: eco

Stephan Zimprich, Leader of the Competence Group Blockchain of eco – Association of the Internet Industry

03/22/2017

The blockchain will fundamentally change the German economy within the next 10 years. This is what 32 percent of managers in German SMEs believe, according to a current YouGov survey.

Just 34 percent of Small and Medium-Sized Enterprises (SMEs), so around just a third of all respondents, has even heard of the blockchain. „65 percent of all survey participants who knew what the blockchain is and have looked at it closely, or even use it already, expect far-reaching economic changes,“ Stephan Zimprich, Leader of the Competence Group Blockchain of eco – Association of the Internet Industry, highlighted. The market research institute YouGov surveyed SMEs with between 50 and 500 employees on the perspectives for blockchain technology on behalf of the eco Association.

How can the German „Mittelstand“ benefit from the blockchain?

„In Germany, more and more „Mittelstand“ companies (SMEs) are discovering this technology and want to use it as a platform for digital innovations,“ Stephan Zimprich said. The inability to forge (30 percent) and decentral storage of data (27 percent) were the bext known characteristics of the blockchain among the survey group with mid to upper-level managers.

Information deficit among SMEs

German SMEs still feel rather under-informed about the possibilities of the new technology. Almost every second respondent said they did not have enough access to sources of information in order to inform themselves about concrete uses of the blockchain for their company. These managers would like information from journals (32%), information materials and advise from the government, ministries and authorities (26%) and from external consultants (23%).

The figures above are based on an online survey carried out by YouGov Deutschland GmbH with 266 decision-makers (mid to upper management) from SMEs (50 – 499 employees) between 25 January 2017 and 04 February 2017.

Source: eco