DLT revolution: Germany's companies rely on blockchain technology!

DLT revolution: Germany's companies rely on blockchain technology!

What's in the area of Distributed-Ledger technology (DLT)? A look at the current development in Germany shows that the industrial application of DLT is gaining more and more journey. According to Dr. Anna Wolf, a specialist officer at the IFO Institute for Economic Research in Munich, now use 9.7% of the companies surveyed DLT or are planning their use, which corresponds to an increase compared to 7% in the previous year. In her analysis, she emphasizes that the use of DLT depends heavily on the respective industry.

Companies in the automotive sector show great interest: Almost every third company has already implemented DLT. The proportion of 13.2% is also remarkable in the processing industry. DLT is also actively used in the service sector, especially in the IT and IT security industry as well as for consulting companies and marketing agencies. Nevertheless, the trade and the construction industry remains reserved with the technology.

industries and areas of application

The DLT has long since left its niche of speculative financial applications and is increasingly being used in operational processes. The use takes place, for example, for the mapping of supply chains and for compliance with regulatory requirements. A decisive advantage of DLT is that it avoids central data management and at the same time offers a high degree of trust and transparency - every node in the network can check transactions and thus ensures the integrity of the data. The technology enables simultaneous update and validation of the records, which makes it particularly suitable for dynamic data such as financial transactions.

Another large field of DLT application is the potential solutions for digital means of payment. Commercial Bank Money Tokens (CBMT) could play an important role here. CBMTs are bound to state currencies and offer a stable base of value. This could boost the next wave of fintech innovations, the DLT for a variety of applications, such as automatic insurance claims or the tracking of goods in the supply chain.

challenges and the future of DLT

Despite the positive developments, DLT faces challenges. Missing technical standards, unclear legal framework and necessary investments in digital infrastructure are hurdles that need to be overcome. The integration of DLT into existing processes also requires close cooperation between industry, the financial world and the regulatory authorities. From a comprehensive analysis of blockchain technology by the Federal Office for Information Technology (BSI), it shows that extensive projects are initiated in the financial sector, but many aspects such as IT security and long-term applications are still inadequate.

Overall, the survey of the IFO Institute shows that more and more companies recognize the advantages of DLT. Around 20% actively discuss the use of this technology, while 70% (for the time being) do not see any benefits for their business model. It is exciting to observe how DLT will develop in the coming years and whether the market can offer the necessary space for innovations.

DLT, especially blockchain technology, has established itself as a amazing tool in the digital landscape. With a variety of application areas, from healthcare to energy sectors, it offers solutions that are not only efficient, but also ensure high security standards. Like Dr. Notes, however, the technology is still at the beginning of its journey and remains a fascinating field that contains both opportunities and challenges.

interested companies who want to get into the world of DLT should be about the current trends and developments at techtarget BSI inform.