Blockchain technology offers great potential for SMEs, e.g. in the form of increased efficiency, improved IT security or new financing options. However, there are some factors that can hinder the implementation of blockchain solutions in SMEs and thus the realization of this potential.
One example is the lack of IT specialists in SMEs. The lack of standardization and the fact that interoperability is not fully guaranteed can also cause SMEs to shy away from implementation. Depending on the specific design of blockchain governance, new dependencies may arise for SMEs, especially in scenarios with a dominant player in the value chain.
If the token economy is to strengthen the position of SMEs and contribute to the digital sovereignty of SMEs, rather than widening the "digital divide" between SMEs and large enterprises, measures should be taken to support SMEs. These should address the regulatory framework as well as knowledge transfer and networking.
In this study, the options for action are assigned to three fields: "Set regulatory framework to reduce uncertainty," "Support knowledge transfer to build trust," and "Promote network building to leverage synergies."
The study is published a part of the Blockchain Expert Dialogue for the Federal Ministry of Economics and Climate Action.
(The study is only available in German)