For a long time the following Motto: “in the crypto-Community is any Problem, pack Take a Blockchain and the Problem is solved”. This blind faith in the eggs legend Jack of all trades Blockchain could slowly give way to a certain Ratio in dealing with decentralised structures. This is at least the result of a new study by Forrester, by the company on 7. November presented.
The “Blockchain” has enjoyed until recently, as a kind of household word, especially in marketing circles of great popularity. This led sometimes to an extent that everyday products have been re-applied by attaching the word Blockchain. On the top, it drove the company’s Long Island Ice Tea Corp. After the company was renamed in Long Blockchain Corp., rose the share prices to insane 290 percent. These kinds of blunt to mislead is an extreme example of a phenomenon that aptly with “Blockchain Washing” to describe.
Of course, the DLT is a ground-breaking technological Innovation. However, only for certain projects. There is no question that in many cases, a simple database is the leaner and more efficient solution. This finding seems to reach according to the study, which is also slowly taking the industry.
Wild West Blockchain-Industry
The semantic change of DLT could also have something to do with the “Wild West” Image in the Blockchain industry. At the latest since the Burst of the ICO-bubble Blockchain is not for Innovation and progress, but in many cases rip-offs. This negative Image adheres to the reverse conclusion also, of course, reputable projects. The use of “DLT” instead of “Blockchain” is, therefore, the attempt to beat the negative connotation of a trick. Since DLT is in many cases simply the accurate description of the technology used.
The Gartner Hype Cycle it has known before
As we reported earlier, technological innovation, in many cases, by the Gartner Hype Cycle lane. Judging from the Hype Cycle for the Blockchain, we are currently between two phases. Namely, the “valley of disappointment” (burst of Hype) and the “path of enlightenment”. Those companies that are now successful in the market, form the Hype Cycle, according to the substance for a long-term determination of the DLT.
That seems to be the Forrester to confirm study course.