In the company’s most recent “Hype Cycle for Emerging Technologies” report, Gartner has positioned “blockchain” as having just entered the “trough of disillusionment,” according to the company’s “hype cycle” metric.
According to Gartner, the ‘trough of disillusionment’ is the third phase of a technology’s “life cycle” – comprising the period during which “Interest 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.”
“Blockchain […] platforms have crossed the peak by now, and we believe that they will reach maturity in the next five to 10 years, with digital twins and knowledge graphs on their heels,” said Mike Walker, research vice president at Gartner.
Earlier this month, a survey conducted by Deloitte found that 44% of “blockchain-savvy” U.S. executives believe that “blockchain is overhyped.” Of all participants, including executives from Canada, Mexico, the United Kingdom, France, Germany, China, and the United States, 39% indicated that they believe the technology is overhyped.
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