Bearing Point study shows growing blockchain interest among companies

The numerous analyses that deal with the role of blockchain technology for companies show the growing importance of crypto currencies. According to a recent study by service provider Bearing Point, managers are increasingly recognizing the technological and economic benefits.

Small survey with high meaningfulness?

A total of 80 executives from various industry sectors, from chemicals and pharmaceuticals to the rapidly growing life sciences, interviewed analysts from Bearing Point for their new study on blockchain. The results give increasing hope that German companies will not oversleep this important trend. In contrast to many other trends of the past, which for a long time looked as if the Bitcoin would arrive much too late in the consciousness of German companies. As many as 59 percent of the survey participants stated within the study that the blockchain has meanwhile become an issue. At 36 percent, technology has the highest status in the financial world, as expected.

Increasing curiosity – greater use seems safe until 2021

In the future, however, there could be a redistribution, according to the data of the survey. For example, four out of ten respondents can well imagine the use of the blockchain in the sales sector, while 39% of respondents believe that the technical basis of currencies such as Ethereum offers good opportunities in the purchasing sector. In the field of supply chain management, 23 percent of those surveyed saw the blockchain as the way forward. Much more important for the success of the blockchain: 52 percent of the company representatives say they plan to enter the technology. 47 percent, on the other hand, consider the deployment to be probable within three years.

discrepancy between interest and actual activity

At Bearing Point, the evaluation shows above all that there is still a difference between the perception of the possibilities of the blockchain on the one hand and its early application on the other. It is questionable whether companies will be able to implement their own plans in time to keep up with global competition. In countries such as the USA and Great Britain, competition is already a big step ahead in many areas. The reluctance in this country is strange because two thirds of respondents see good opportunities for process optimization through the blockchain. Many participants (44%) also consider the technology a great help in terms of reducing running costs. No wonder, then, that the first cities like Vienna are now using their own currencies for official purposes. Although initially in smaller niches such as this case in the context of employee catering.