Blockchain Still Only a Niche Technology // Only Few Companies from the DACH Region Use Blockchain Technology

Only Few Companies from the DACH Region Use Blockchain Technology

Blockchain technology is rarely used in the DACH region.

Companies in Germany, Austria and Switzerland (so-called DACH region) barely use blockchain applications, with less than one per cent of them actively using them. Companies from the financial industry, the information and communications sector and consulting firms are among those using blockchain technology more frequently than average. So-called blockchain clusters are forming mainly in the major financial centres. These are the findings of a study by the Technical University of Munich, the University of Mannheim and ZEW Mannheim, based on an analysis of the websites of around 1.4 million companies from the DACH region using deep learning methods.

"Our results show that blockchain is used by less than one per cent of all companies analysed. This means that it remains a niche technology even 15 years after its introduction, although the financial sector as well as ICT and consulting companies do use blockchain in some areas," says Professor Hanna Hottenrott, head of ZEW's "Economics of Innovation and Industrial Dynamics" Unit and co-author of the study.