Enthusiasm for blockchain technology is weakening, according to a recent research by Gartner.
Blockchain is a Little Down Lately
In the report entitled "Hype Cycle for Emerging Technologies" Gartner included blockchain, alongside four other emerging technologies, as one of five innovations that can erode the brink between humans and machines. Blockchain innovation is at the edge of the "trough of disillusionment" stage in the cycle, however, it predicts that the innovation may come to the "plateau of productivity" within the following decade.
The "trough of disillusionment" implies that "interest [in the technology] wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters," as clarified on Gartner's site.
Mike Walker, research vice president at Gartner, claimed that blockchain and internet of things (IoT) will see maturity in the following 5 to 10 years “with digital twins and knowledge graphs on their heels."
Growing Up Shoulder to Shoulder
Four other technologies that are mentioned on the hype cycle are "democratized AI," "DIY biohacking," "transparently immersive experiences" and "ubiquitous infrastructure.”