The German Federal Office for Information Security (BSI) commissioned a market analysis of over 300 block chain offers.

Nine block chain applications come from Germany, but the majority from the USA. The study was commissioned by the Forschungszentrum Informatik (FZI) in Karlsruhe. The paper shows that block chain products have on average a high level of safety. According to the BSI, the main reasons for this are a strong focus on IT security and the high financial volume in the market.

The block chain is better available and more secure against misuse than classic central databases. However, these advantages are offset by disadvantages in terms of confidentiality and efficiency. Furthermore, none of the applications examined could “provide formal proof of security” – BSI. Only in a few individual cases have safety investigations been conducted independently by the manufacturers of the products and their results published. An exception in this point are hardware wallets and block chain clients, which have been examined above average and have a high security level.

The BSI confirms in its analysis:
“It is striking, however, that only very few concepts and solutions from the block chain ecosystem have been scientifically studied. This is particularly problematic because the safety guarantees given by different products are novel and often not fully understood”.