Blockchain

Diagonale Kette, ein Blockchain-Konzept, graue Nahaufnahme
Diagonale Kette, ein Blockchain-Konzept, graue Nahaufnahme

Background

As cross-cutting technologies, blockchain or distributed ledger technologies (DLT) are considered to have great potential and a wide range of possible applications in various industries and economic sectors. As IT security, flexibility and efficiency are becoming increasingly important for companies and blockchain enables new business models, it is one of the most discussed technologies in the digital transformation. But what is behind this technology? Transactions of all kinds still usually take place via a central authority, such as a bank for a bank transfer. This has many advantages, but also disadvantages, as a transaction via a centralised location costs time and financial resources, requires the transfer of important data and creates a security risk due to a single point of failure.

Counterfeit protection, decentralisation and reliability

The idea of blockchain is based on an infrastructure with distributed, i.e. decentralised, data storage for all participants. This eliminates dependence on a centralised authority and enables direct, immediate transactions in the blockchain. This can simplify the trading or exchange of monetary values, for example, but also enable efficient and secure processes in other areas. Thanks to its infrastructure and a consensus principle among blockchain participants regarding the information and data it contains, the technology should be characterised by its decentralised, reliable and tamper-proof properties and open up a wide range of innovative applications, forms of cooperation and business models without sacrificing the digital sovereignty of the participants.

Potential and impact of blockchain

With the help of blockchain technology, the exchange of data, values or rights can be decentralised and carried out securely and transparently without an intermediary. In the course of this secure transaction, companies can also network with each other in a decentralised and secure manner, create new markets or organise existing market and value creation processes in a technically new and more efficient way. Innovative solutions can therefore be realised across the various levels of the value chain using blockchain. The potential use cases go far beyond the familiar cryptocurrencies such as Bitcoin or Ethereum on the financial market. For example, there are potential applications in trade for tracking value chains through proof of origin, in the energy sector for testing decentralised energy supply, in healthcare and medicine, in journalism and in insurance and banking.

 

Blockchain Breakfasts BW (BBB)

As part of the Blockchain Breakfasts BW (BBB), the Ministry of Economic Affairs has been discussing various aspects of blockchain technology with experts from Baden-Württemberg since January 2022. Each BBB has its own topic, which is organised in a decentralised manner by an "owner". Previous topics have included blockchain as an incentive system, self-sovereign identity, applications in the healthcare sector, sustainability aspects, the mobility sector, the energy industry, the BW 2023 digital summit, cybersecurity, the opportunities and risks of the metaverse, the future of road transport, the capital market 3.0, etc. One highlight was the 22nd BBB on 1 October 2024 in the Haus der Wirtschaft on the synergies of AI and blockchain.
With the BBB, we want to continue to encourage a recurring and open exchange in order to inform and network across the country and thus stimulate further innovations and applications.

If you have any suggestions or questions, please contact Mascha Eckhardt(mascha.eckhardt @ wm.bwl.de).

Below you will find explanations and statements on myths and prejudices and important blockchain terminology from the BBB circle. The selection of topics was random and does not claim to be exhaustive.

Promotion programs

More promotion programs

Funding opportunities for measures in the area of blockchain

Studies

More studies

Publications and studies on digitalisation topics in the area of blockchain.