Bank

DeFi

Planet

<div class="intro-text">
 A recent<a style="color: #0000ff;" href="https://drive.google.com/file/d/17jAv8MJBeuLwqPNCvuMcJAwHJnT1FWjz/view?usp=drivesdk" rel="noopener noreferrer nofollow"> study</a> has revealed that German businesses still significantly underutilize blockchain technology, claiming it is irrelevant to business operations.
</div>
The study, conducted by the Hanseatic Blockchain Institute and the German Federal Ministry for Economic Affairs and Climate Action, surveyed 9,000 companies and 204 experts. 74% of companies surveyed in 2023 and 72% in 2024 expressed disinterest in adopting the technology.
In stark contrast, artificial intelligence (AI) adoption has doubled, rising from 13% in 2023 to 27% in 2024, while cloud computing remains the most widely adopted technology, utilized by 46% of companies as of mid-2023. Blockchain adoption lags at just 3% during the same period.
The study did highlight some areas where blockchain adoption is gaining traction. The financial services sector leads blockchain adoption, with 54% of companies already implementing it, driven by investment opportunities. Notably, the<a style="color: #0000ff;" href="https://defi-planet.com/2024/11/germanys-central-bank-joins-singapores-project-guardian-to-explore-asset-tokenization/" rel="noopener noreferrer nofollow"> Deutsche Bundesbank has joined Singapore’s Project Guardian</a>, an initiative exploring asset tokenization to advance financial markets. The German Central Bank aims to test an interoperable blockchain platform to help standardize and improve the cross-border interoperability of digital assets.
In addition, 31% of companies are now using blockchain for secure digital identity management, with another 23% planning to adopt it. However, blockchain’s application in marketing is limited, with only 28% of companies utilizing it and a mere 10% planning future adoption.
The study highlighted several challenges hindering blockchain adoption in Germany, including regulatory uncertainty, a lack of user-friendly applications, and negative media coverage. These challenges, along with a shortage of skilled professionals, have contributed to public scepticism and limited blockchain’s broader appeal. The study also pointed out that many blockchain applications operate in the background, reducing their visibility to end-users and, in turn, perceived importance.
To encourage greater blockchain adoption, the study recommends closer collaboration between universities and businesses, clearer regulations, and targeted research on blockchain’s potential in specific industries, particularly those focused on ESG compliance and the intersection of blockchain and AI.
&nbsp;
If you want to read more news articles like this, visit <a style="color: #0000ff;" href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a style="color: #0000ff;" href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a style="color: #0000ff;" href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a style="color: #0000ff;" href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community.</a>
“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”
The post <a href="https://defi-planet.com/2024/11/german-businesses-lag-in-blockchain-adoption-despite-promising-use-cases-new-report/" rel="noopener noreferrer nofollow">German Businesses Lag in Blockchain Adoption Despite Promising Use Cases — New Report</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

German Businesses Lag in Blockchain Adoption Despite Promising Use Cases — New Report

DeFi Planet

Other articles published on Nov 29, 2024

HECO Network to Cease Operations a Year After $87M Hack

100x returns: Catzilla and 2 other cryptos show potential to create millionaires

AI Altcoins Set for $600B Market Cap: Top Tokens to Watch by 2025

Ethereum Funding Rates Signal Bullish Momentum, New ETH High Soon? (CryptoQuant)

Selling ETH for BTC: Leading Chinese Gaming Firm Converts

Best Meme Coins to Buy for December 2024: BTFD Coin Heats Up the Market, Turbo Surges, and Book o...

Join our free newsletter for daily crypto updates!