IT News - Blockchain

In its 2019 Hype Cycle for Blockchain Technologies, Gartner found most blockchain technologies remain stuck in an "experimentation mode."

"The analyst firm said most applications are yet to live up to their hype, and that interest in them has waned as applications failed to deliver on their expected outcomes," writes Roberto Torres in CIODIVE.

"As technology advances and unique use cases for blockchain applications continue to roll out, by 2021 analysts expect the technology will begin to evolve past this phase. But the "digital business revolution" promised by blockchain will need even more time. By 2028, Gartner projects blockchain will become fully scalable technically and operationally..."

For years, all sorts of companies have flooded the media with reports of using blockchain technology for everything from tracking vegetables to fake luxury handbags

Avi Mizrahi writes in, "These claims mostly involved tests that were done only for the sake of publicity, riding the coattails of cryptocurrency, and almost never about actual products. A new report from Gartner asserts that in reality the enterprise solutions behind these projects are still five to ten years away from making an actual impact...

For enterprise blockchain solutions to become mainstream, Gartner said users shouldn't have to worry about picking the right platform, the right smart contract language, the right system interfaces, and the right consensus algorithms. Additionally, the company explained that concerns about how users will interoperate with partners that use different blockchain platforms for their projects must be rectified..."

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