Falling out of love with blockchain
“S&P 500 executives are dropping blockchain buzzwords less on earnings calls and during presentations to analysts and investors. Analysts are also asking about it less.”
Technology drives progress, and progress means growth to investors. So it’s no surprise that corporations felt like they had to have a ‘blockchain strategy.’ The thing about blockchain tech is it’s not easy to explain clearly, and its most effective use – cryptocurrencies – aren’t easy to explain either.
The result? Everyone who want to sound like they had their finger on the pulse of future technology enthused about blockchain, even if they didn’t really understand how it could be useful to them.
Distributed ledgers have uses, but they’re not as widespread as some would have you think. Away from the theses of people who advocate for a completely decentralised internet, blockchains are just another tool that can be useful for some tasks, and not for others.
IBM may have invested heavily in helping businesses move into the blockchain space, but I wonder how many of those projects are still active five years from now, and how big IBM’s blockchain division is then.