The hyperbole around blockchain and bitcoin is beginning to fade, Axios reports. Corporate America’s infatuation has dimmed as companies discover the odds of converting blockchain hype into something substantial is slim.
A look at Google Trends for the search term “blockchain” reveals the following graphs:
Interest in blockchain by region also has some interesting results:
Further, the bump in shares companies like Kodak witnessed after touting plans to incorporate blockchain or cryptocurrency technology into their businesses proved only fleeting.
Mentions of the term “blockchain” on earnings calls and analyst/investor events have plummeted by about 80% since peaking earlier this year.
S&P 500 executives are dropping hashtag#blockchain buzzwords less on earnings calls and during presentations to analysts and investors.
Does this mean blockchain is dead? – No.
However, hashtag #enterprise deployment of this promising technology will definitely be slower than the “hype machine” suggested.
Many of the most promising use case require the formation of consortia of users.
In addition to necessary technical development, creating standards, and developing interfaces to legacy systems, negotiating necessary consortia agreements will take time.
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