Blockchains have become known as the backbone of bitcoin and other digital currencies. However, their decentralized data structure offers an abundance of other possibilities for application. What these are, and why they are especially interesting from small and medium-sized companies, Stephan Zimprich, Leader of the eco Competence Group Blockchain, explains in interview.
Mr. Zimprich, why do you think that blockchain is becoming a topic for SMEs?
Because the technology knows hardly any limits and SMEs in particular depend on simple and efficient processes – here, blockchain has the capacity to lead to giant steps forward in many sectors.
What usage scenarios in particular do you envisage?
Blockchain technology is a kind of Jack-of-all-trades – wherever transactions of values of any kind are involved, or revision-safe and tamper-proof recording of incidents is important, the technology can not only offer gains in efficiency, but also allows in many cases completely new approaches. Obvious examples are use cases in logistics, where cumbersome paper trails could become superfluous, and in international goods transport, where – for example – the granting of a letter of credit in just a few hours is conceivable.
According to the YouGov survey on behalf of eco, 17 percent of those questioned are considering making use of it. How do you explain the still limited amount of interest?
The underlying technology requires a lot of explanation. If you show a person an iPhone, then even people who are unacquainted with it will be able to recognize its benefit. To understand blockchain, you need to spend a lot of time on the topic.
What is your recommendation for small and medium-sized companies with regard to blockchain?
I would recommend that they invest the time necessary to understand the technology and its potential.
