72% of German Companies Not Interested in Blockchain Due to Media Coverage, Study Reveals

• Based on the most recent analysis report, 72% of German firms don’t contemplate it essential to combine blockchain into their enterprise operations.
• The report additionally finds that unfavorable media protection, regulatory uncertainties, insufficient experience and different elements contribute to the problem of blockchain adoption in Germany.

As blockchain know-how permeates companies and is being significantly thought-about by prime establishments all over the world, a brand new report reveals that Germany seems to be one in every of many international locations lacking out on this groundbreaking answer. This was evident from a latest examine during which the enter from 9,000 German firms and 204 consultants was analyzed.

Dive into the examine

Based on W3NOW analysis, greater than 74% of German firms didn’t contemplate blockchain related to their enterprise operations in 2023. Fascinatingly, 72% of such firms made the identical announcement in 2024. In the meantime, synthetic intelligence (AI) is being quickly adopted by firms as the speed rose from 13% in 2023 to 27% in 2024.

After we additional examined the analysis report, we discovered that the adoption charge of Cloud Computing had surpassed that of AI and the blockchain. Particularly, 46% of German firms used cloud computing in 2023, in comparison with 13% utilizing AI and three% blockchain.

The analysis report estimates that 54% of the 132 firms presently utilizing blockchain know-how within the nation are within the monetary companies business. Based on the info, the rising use of blockchain know-how on this space signifies that it’s effectively examined and is prone to be pushed by the supply of capital and funding.

Along with the monetary companies sector, 31% of firms actively utilizing blockchain are within the digital identification sector, whereas just one% are within the healthcare information administration sector.

Causes for the poor adoption of Blockchain in Germany

Assessing the potential challenges dealing with blockchain adoption in Germany, the examine highlighted that the shortage of user-friendly purposes, unfavorable media protection, regulatory uncertainties and the scarcity of expert professionals are the main elements .

Based on the report, blockchain is often related to cryptos. This means that market volatility and related unfavorable perceptions of the asset class have prolonged to its related know-how. Moreover, unfavorable media protection erodes belief in blockchain options and discourages their use at respected establishments.

Nevertheless, it is very important emphasize that many blockchain purposes with doubtlessly excessive financial relevance don’t instantly work together with finish customers. As a substitute, blockchain know-how is commonly used within the background, with out media visibility, which considerably reduces the relevance of public consciousness for broader blockchain adoption.

Bitcoin use in Germany

When assessing the first use of Bitcoin (BTC) within the German financial system, the researchers additionally discovered that 57% of customers use it for his or her funding actions, whereas 49% use it for funds. Moreover, 32% of respondents disclosed that they use the Lightning Community for transactions, whereas 5% additionally interact in Bitcoin mining.

Based on 70% of respondents, their main use of Bitcoin is motivated by its position in shaping the way forward for finance. 54% additionally admit that they’re attracted by the power to facilitate peer-to-peer transactions with none intermediaries. In the meantime, solely 11% agreed that Bitcoin meets environmental, social and governance (ESG) standards.

On the time of writing, Bitcoin was buying and selling at $97.4k, after rising 35% prior to now 30 days.