Study Shows 11% Of All Spain’s Businesses Leverages Blockchain

Spain is seeing a surge when it comes to the widespread usage of decentralized technologies, but this isn’t in reference to cryptocurrencies in particular. Businesses across the nation are making use of blockchain technology in general, with everything from corporations, municipalities, industries, and public universities all tapping into this fundamental technology in some way. Of course, this allows for the crypto ecosystem within it to only diversify further.

Spain Very Much For Blockchain Technology

IDC Spain stands as a business consulting firm and has recently revealed through a report that around 46% of all large Spain-based companies are in favour of adding the usage of blockchain and cryptographic technologies to increase the overall security within their respective platforms.

The report itself boasts the title of “State of the Art Blockchain and Cryptographic Technologies in Spain” and IDC had published the piece with the partnership of REALSEC, a technology company. The report evaluates the evolution of blockchain technologies within the companies of Spain, showing that the figures have only improved since the first edition of this report was released.

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Massive Amounts Of Active Blockchain Usage

The report highlighted that a total of 1 in every 4 companies within Spain have had exposure to blockchain technologies in some way, shape, or form. Another important metric is the amount of the nation’s business sector actively taking part and using blockchain technology, which stands at 11%. This is 1% more than was recorded around 18 months ago.

The report went further, noting that a total of 17% of all logistics companies within the nation are expected to have some sort of relationship with a blockchain company, or otherwise provide their own IoT service.

A New Age For Spain’s Blockchain

Jesús Rodríguez stands as the CEO of Realsec and gave a statement about the matter at large through an interview the company published on its official website. In this interview, Rodríguez stated that a lot of work needs to be done to increase the efficiency of the Spanish industry’s blockchain solutions, even if it is increasing in overall adoption. Furthermore, Rodríguez noted that space still needs to prove itself capable of competing against other more traditional and centralized solutions out there.

Now, something to keep in mind is that Spain as a whole is very much for blockchain technology in general, just not cryptocurrencies. The country has taken a hard stance to tax crypto trading, making use of AI solutions to help achieve this, but it’s also promoting a regulatory sandbox to promote blockchain technology, as well. While many see it as one and the same, and it’s used as such, blockchain and cryptocurrencies are two technologies that just happen to work incredibly well in tandem.

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A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.