Solutions looking for a problem rarely survive. Gartner highlights that issue.
"Many CIOs overestimate the capabilities and short-term benefits of blockchain as a technology to help them achieve their business goals, thus creating unrealistic expectations when assessing offerings from blockchain platform vendors and service providers."
Gartner senior research director Adrian Lee
I wrote about this in "Why Blockchain is Hard".
"Blockchain is still a developer's environment rather than a solution to a problem. And best left there until and unless it is proven to solve an issue. Not to say there will not be singular practical solutions though invariably in a private blockchain in which the participating parties have complete control.
That is far from the hype of blockchain evangelists."
Any potential benefit comes at a high cost
- Development is strict and slow
- Incentive structures difficult to design
- Maintenance is very costly
- Users are sovereign encouraging malicious users
- Upgrades are voluntary
- Scaling is really hard
Look before you leap.
"'Transactions', for example, was the term mentioned the most in relation to blockchain, followed by 'secure' and 'security.' While these may be functions of blockchain-enabling technology, buyers are still confused as to how these functions are achieved or what benefits blockchain adds compared to their existing processes," he continued.
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