Is Blockchain Exploding, Hibernating, or DOA?

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Is Blockchain Exploding, Hibernating, or DOA?

Is Blockchain Exploding, Hibernating, or DOA? Why isn't Blockchain the miracle cure all we've been told it was? (It dices! It slices! It folds your laundry!) Why hasn't it yet revolutionized our lives in matters of Cyber Security, data trust, or food safety / supply chain accountability? Why is "Blockchain" still primarily talked about in terms of the value fluxuations of cryptocurrencies?

Why isn’t Blockchain the miracle cure all we’ve been told it was? (It dices! It slices! It folds your laundry!) Why hasn’t it yet revolutionized our lives in matters of Cyber Security, data trust, or food safety / supply chain accountability? Why is “Blockchain” still primarily talked about in terms of the value fluxuations of cryptocurrencies?

The reason is — the vendors of these (truly legitimate and needed solutions) want you to only play in their sandbox, and this provides an inertia obstacle on who and what to adopt, let alone adopt at all.

It’s a classic format war. Beta vs. VHS. Apple vs. PC. Android vs. iOS. Playstation vs. XBox vs. Nintendo. But a clear difference in those cases, there existed genuine market demand for the CATEGORY. Some vendor or vendors were going to succeed because the category was viable, needed, appealing, and sufficiently in demand to support a diverse ecosystem of vendors and formats.

Blockchain is entering an arena where current data storage, asset tracking, and accountability solutions are clearly inadequate, but nothing’s truly broken just yet (unless you count the increasing incidences of food borne illness outbreaks from romaine / bagged lettuces, and the like). The world keeps spinning, and “dealing” with the problems at hand, rather than confront the more onerous process to jump into another pool with another touted solution that will fix what ails us.

So as companies deliberate whether Blockchain can truly improve their processes and solve core problems that inhibit growth, they find themselves then mired in a decision of which “walled garden” to plant their tree in.

Do we go with AWS or IBM or Azure or Oracle or…? Do we develop in Hyperledger or Ethereum or…”

For all those “this OR that” questions, for Blockchain to sprout and thrive, the market needs more answers of “Yes” and “And”.

Q. Is it best to go with this Blockchain vendor or that vendor? A. Yes. Choose what’s best for you to start now.

Q. What if my needs change later? A. You can develop with another vendor and choose to continue working with your existing partner.

Q. Will I have full functionality with my legacy systems? Will these new dApps operate here or there? Yes. In all environments you build out.

Enterprise Blockchain technology today is amazingly robust and capable at addressing and solving for numerous business issues. But it’s all been within a silo’d approach that promotes indecision, inertia, and stalling mass adoption.

The industry needs connectors between those silos. We need concise and easy to digest business intelligence and analytics that deciphers user and transaction activity. We need the help of machine learning AI to provide predictive next-steps and faster intervention and mitigation if needed.

But fundamentally, this is a human calculus — technology executives putting their jobs and reputation on the line to influence the C-Suite to develop, deploy, and maintain new, different systems.

As such, we need enablement technology that empowers those CTOs to build what and how they want to build, with a focus towards their business goals and outcomes, and with the knowledge that their new infrastructure is scalable to the next innovation bend in the road.

SBT’s OverWatch Technology can help to play a role in kickstarting and promoting long term Blockchain development velocity.  Check out our White Paper to learn more.

What do you think? What’s holding up the industry to achieve the heights of success we know it can reach?

Eric Haruki, Director of Operations

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