A significant shift is underway in German industry, with the adoption of blockchain technologies gaining considerable momentum. According to a recent survey by the Ifo Institute, the proportion of companies utilizing blockchain or planning its implementation in the near future has risen from approximately seven percent to nearly ten percent within the past year. An additional twenty percent of companies are currently discussing the potential application of this technology.
Blockchain, or more broadly, Distributed Ledger Technology (DLT), refers to a decentralized database structure facilitating transparent, secure and automated transactions. Anna Wolf, an Ifo industry expert, stated that DLT-based systems offer businesses the potential to streamline their digital operations.
The adoption of DLT varies considerably across different sectors. The manufacturing industry leads the way, with around 13 percent of companies currently using or planning to use these technologies. Notably, every third automotive company is already leveraging DLT solutions. The chemical industry reports an adoption rate of approximately eleven percent, a figure similar to that observed in the wood and furniture manufacturing sectors.
Within the service sector, the IT and cybersecurity industries are at the forefront of blockchain adoption. Consulting firms specializing in legal, tax and economic matters, as well as marketing agencies, are also actively employing blockchain technologies. However, sectors such as retail and construction remain more hesitant in their approach.