I remember reading articles back in 2018 saying that blockchain was going to transform every industry within five years. Banking, healthcare, supply chain, real estate, you name it.
Here we are in 2024 and while there has definitely been progress, it feels like mass adoption is still pretty far away for most of these use cases. Crypto is obviously more mainstream now but actual enterprise blockchain applications seem to be moving really slowly.
I have been trying to figure out why and I have a few theories.
One is that it is genuinely hard to integrate blockchain into existing systems that companies have been using for decades. The technical lift is enormous.
Another is that a lot of companies experimented with it during the hype cycle and quietly dropped their projects when they realized it was more complicated than they thought.
And honestly I think a big part of it is just that most people do not care about the underlying technology as long as the service works. Nobody thinks about what database their bank uses.
What do you think is the main reason adoption has been slower than expected? And do you think it will eventually get there or is the current pace just how it is going to be?