eco and YouGov: Small and Medium-Sized German Companies Believe in Blockchain

  • Blockchain is beginning to become established – this is the view of 44 percent of SMEs in Germany, according to a YouGov survey
  • Nine percent of companies surveyed are planning specific use of blockchain

Blockchain is becoming established for specific use cases and sectors – this is the view of 44 percent of representatives of German small and medium-sized businesses, according to a survey carried out by international market research and consulting institute YouGov. Nine percent of the companies surveyed are already planning specific uses of blockchain. 17 percent of those questioned are at least considering using it in their companies.

Three percent of SMEs are already using blockchain. Only 26 percent do not believe in this technology, and 30 percent are undecided or gave no response. “Blockchain is becoming a topic for SMEs – more and more companies are discovering great potential in the technology for their own business,” says Stephan Zimprich, Leader of the Competence Group (CG) Blockchain at eco – Association of the Internet industry.

Three percent of German SMEs already use blockchain

In a blockchain, all entries and transactions are simultaneously saved in many locations in a tamper-proof manner. In the eyes of many experts, blockchain technology offers high potential for many areas of the economy, especially when there is a requirement for the traceable transferal of information. Blockchain was created as the technical foundation for crypto-currencies like Bitcoin.

Blockchain could simplify processes and reduce costs

“With the help of blockchain, and without large investments in IT, secure processes for simple transactions can be created,” says Stephan Zimprich. “SMEs also want to benefit from these and other advantages of blockchain.” Many of the survey participants can envisage a specific use of blockchain if it makes processes more secure (43 percent), simplifies processes (39 percent) or reduces costs (39 percent).

The data used are based on an online survey from 25.01.2017 to 04.02.2017 by YouGov Deutschland GmbH, in which 266 people from middle and senior management in small and medium-sized companies took part.

A photo of Stephan Zimprich, leader of the competence group Blockchain, is available here.

Creative Commons Picture Blockchain
Contact Person
  • Business Development Mitgliederentwicklung Lars Steffen +49 (221) 7000 48 - 176 lars.steffen@eco.de