German Adoption Of Bitcoin Growing

A recent survey shows that more than one-third of big companies in Germany see blockchain technology as revolutionary as the internet was back in its day. On top of the Internet of Things and Artificial Intelligence, blockchain technology one of the current three areas of development with massive potential.

The survey was administered by the German Federal Association for Information Technology, Telecommunications and New Media and showed that there was around fifteen percent of businesses in Germany that believe blockchain will change society and the economy as much as the internet has in the past 20 years. Some bigger companies were twice as likely to have the same opinion too, according to the survey.

As reported by CoinTelegraph, simultaneously, there was just under 50 percent of the those who took part in the survey which classified Germany as a latecomer in blockchain adoption which lagged behind some other countries. There was a big batch of people who responded that they don’t really see Germany as a leader for the development of blockchain technology but somewhere in the middle.

The Federal Association had many polls underway for firms and the general public in Germany for the subject of cryptocurrencies and blockchain on how they see them. Another survey operated in November showed that around sixty percent of local businesses are hesitant about the approach for the topic of blockchain but this was primarily down to a lack of practical applications.

Back in February this year, the Association did a survey which found that over sixty percent of the German people knew what Bitcoin was. This figure was double what it was back in 2016 when the same survey was conducted.

The CEO of the German Association spoke on the matter regarding the economic significance of digital currencies and blockchain. Bernhard Rohleder stated:

"Bitcoin and other cryptocurrencies are a good example of how the digital age is able to change the financial world. This is not so much about the individual currency itself as it is about the underlying blockchain technology. It will have an impact on the whole economy.”

All of this and more shows that Bitcoin and the rest of the industry are slowly getting adopted to more people. Granted, Germany is well known for its adoption of technologies but Bitcoin is still making noise in Europe

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