Blockchain Adoption by Spanish Businesses now at 11%

When most people think about blockchain technology, the first thing that comes to mind is cryptocurrencies. However, there are more use cases than that, and they are growing by the day. This is quite evident in Spain, where the number of businesses adopting cryptocurrency has shot up significantly.

A recent report by IDC, a business consulting firm, revealed that 11% of Spanish businesses now adopt blockchain technology in one form or the other. The report further highlights that a sizeable portion of that number is large businesses, which account for 46% of all companies. They are mainly adopting it as a way to increase the security of their systems.

The report further adds that the adoption is growing, especially amongst logistics companies. 17% of them are expected to incorporate blockchain technology and have IoT technologies in their operations. Commenting on this report, Realsec CEO stated that there was an increasing adoption of blockchain in Span. However, he added that the technology needs to get more efficient to compete with centralized systems.

What is even more interesting is that the Spanish government is quite receptive to this technology. The Spanish government is currently working on sandboxes that could help drive up its adoption. While it is pretty receptive on blockchain technology, the Spanish government doesn’t seem to have the same attitude towards cryptocurrencies.

It is only recently that the Spanish government wrote 15k letters to crypto traders asking them to pay their taxes. It is a government that seems to have said yes to blockchain but is undecided on crypto.

Views and opinions expressed are solely those of the author and not of The DeChained or any affiliated party. Views or opinions expressed in this article (or any article on the website) are not financial advice. Articles are for informational purposes only. The author and The DeChained may hold positions in assets discussed in this or other articles.
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