Study on the economic impact of blockchain on the danish industry and labor market

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A study made on behalf of The Danish Industry Foundation by the European Blockchain Center at IT-University Copenhagen in close cooperation with Fraunhofer IAE and Danmarks Statistik has been recently published.

Blockchain enforces business logics among and across several stakeholders within a supply chain, thereby minimizing transaction costs, providing a transparent economy where transparency is needed. Thus, having a more precise understanding of the economic impact of the emerging blockchain industry on a macroeconomic level for Denmark is of vital importance for decision-makers. The published study for Denmark is the first worldwide covering several industries on a national level.

In particular, the purpose of the study is to provide solid evidence for decision makers in the industry and politics about future positioning and strategy for blockchain development and assimilation in Denmark. We specifically focus on how Danish companies can build and steer successful blockchain innovations while driving societal welfare at the same time. The empirical study follows a quantitative research methodology able to capture current interrelationships and numerical characteristics in the Danish economy. The study also discloses causal relations on why companies assimilate blockchain technologies, as well as drivers and barriers for doing so. With more than 1,300 responding Danish companies, or 44 percent response rate, the study covers over 20 percent of all companies in the researched industries in Denmark.

Feel free to read the entire study here.