Blockchain progress slowing?

Discussion in 'Blockchain News' started by CryptoTC, Aug 1, 2018.

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  1. CryptoTC

    CryptoTC Crypto Fat Cat
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    According to CoinTelegraph, many enterprise blockchain projects will ultimately fail with much fewer use cases than previously expected.

    Forrester Research: 90% of Blockchain Initiatives by US Firms Will Never Become Operational

    Is this an indictment of crypto and blockchain projects in general or just of private corporate owned and controlled blockchain tech? I could see dapps running on platform coins gradually replacing functions currently powered by financial institutions using internet protocols. Games, payments, social media and more.

    So is this coming to a screeching halt or did Amazon, Google and IBM over-estimate private chain uses?
     
  2. The CC Forums

    Staff Member

    It’s all over-hyped. The flow of information in 2018 is immediate. Speculate on a possible use for a technology, and 24 hrs later the world jumps on the bandwagon supporting. Hype ramps up, speculation soars, then the reality of the actual development cycle sets in and the market s check up. That’s where we are now. Last year saw an unsupportable number of new “projects” attractive a massively unjustifiable amount of development money.

    The reality is that most are like the vaporware of the 90’s. There’s nothing there, and there never will be. ICOs attracted so much stupid money away from legit projects that it will take a few years for the real projects to emerge now. Hopefully they keep plugging away.

    As far as private blockchains, customers don’t really care. If you believe the underlying tech of decentralization, then you will avoid these solutions. If you don’t care about decentralizing, then you won’t care how amazon or IBM handle data as long as it works. So yes, the big guys overestimated what they would be doing in-house with blockchain solutions.
     
  3. Old Man Crypto

    Old Man Crypto Expert chainblocker

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    Good projects are probably still working on things quietly but I agree that a lot of the bad tokens and dead coins have stopped being covered. Wasn’t there a report about over 1000 coins were dead and useless? That’s pretty bad but I bet a lot more are either dead or will be by next year.
     
  4. The CC Forums

    Staff Member

    Dead Coins

    List of Dead Coins | Coinopsy

    Over 800 cryptocurrencies are now dead as bitcoin is 70 percent off its record high

    And this has definitely hurt the legitimate projects as well as all of us involved in crypto as writers, site owners and investors. Junk threatens to bury crypto before it even gets going.
     
  5. CryptoTC

    CryptoTC Crypto Fat Cat
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    We’re all in bearish moods lately. We’ve all become grumpy @Old Man Crypto with that horrible mask of skepticism. Not that mask in that hideous avatar though. No one is that bad.
     
  6. koorper

    koorper Hodls on dips

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    Speaking about what's happening in real time, mass adoption of cryptocurrencies and blockchain is still five to six years away.
     
  7. The CC Forums

    Staff Member

    I’m reminded that we’ve been saying that about VR and AI for 10 yrs. And they’re still not ready for mass adoption.

    Let’s hope crypto doesn’t join the pile of cool tech created but never used.
     
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