Blockchain-based technology has been already exciting public and business communities for several years. It was predicted by the best future, tantalizing prospects and a mass adoption – is not it a miracle? However, according to the latest research of the web source Forrester, many huge world enterprises, that previously expressed their wishes to implement blockchain in their business, suddenly postponed all related initiatives.
In this article we try to understand what are the reasons for blockchain dismissing and also meet you with the relevant opinions of blockchain technologies experts.
Truth vs. rumour about blockchain
The purpose of the blockchain or a ‘technology of recording and storage of data as distributed database’ system is to organize a digitally protected registry, what presents an innovative way to track all payments and customer activity. Nevertheless, there is an opinion that it turned out this vaunted technology is difficult to use for solving real problems.
Look at one interesting example: the expert analyst of Gartner company said that all cases of actual use of this technology are extremely rare. Meanwhile, the president of Endpoint Technologies Associates, Roger L. Kay mentioned that the need for the usage of this technical tool is growing, especially among the companies that deal with cloud technologies, sales of IT services and consulting assistance. There are diametrically opposed points of view – who to believe?
Many companies have some their strange opinions about this thing, and therefore blockchain overgrows with rumours and false stories. We will tell you what deserves the attention – it is statistics. Here in the diagram it can be seen that blockchain is on the rise and does not stop to develop itself:
The prospects of this technology are felt deeply by such giants as IBM, Microsoft and Accenture. The following graph shows that they own most of the products and services that are worked on blockchain:
What is a real thing of blockchain stopper?
Even the persuasive statistics can not have an effect on businessmen and make them try and use this new technology. Like many novelties in the world of financial instruments, blockchain still remains in more ways a kind of exotic.
For example, the Executive Supervisor of Enterprise Ethereum Alliance group, Ron Resnik said that many companies do not practice blockchain because of the fear of making a lot of mistakes – this area is still relatively unknown, and everyone just tests the waters. He added that blockchain has a plenty of possibilities and presents something quite interesting and useful.
One more problem of so-called a shared ledger implementation lies in the lack of necessary software which is compatible with this technology. At the present moment blockchain system is not available for processing with a large volume of transactions, and therefore it is not suitable for giant corporations. But this problem can be solved in the near future – people need to push the envelope and overcome their doubts. As it is said, it is just the matter of time and the progress.