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Impact of Blockchain on the Danish Industry and Labor Market

In 2018, the European Blockchain Center published the world-wide first national macro-economic report on blockchain at the country level with the National Statistical Office of Denmark.

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

Blockchain enforces business logic among and across several stakeholders within a supply chain, thereby minimising transaction costs and providing a transparent economy where transparency is needed.

Thus, a more precise understanding of the economic impact of the emerging blockchain industry on a macroeconomic level for Denmark is vital for decision-makers. The published study for Denmark is the first worldwide to cover 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 that captures the Danish economy’s current interrelationships and numerical characteristics. The study also discloses causal relations on why companies assimilate blockchain technologies, as well as drivers and barriers to doing so. With more than 1,300 responding Danish companies, or a 44 per cent response rate, the study covers over 20 per cent of all companies in the researched industries in Denmark.

Read ITU’s news statement here.
Feel free to read the entire study here.

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