Has Blockchain Been Overhyped?
Has Blockchain Been Overhyped? Who did it? This question can be answered with "yes" and "no". Distributed Ledger Technology (DLT) is overestimated by those who overestimate it, and underestimated by those who underestimate it -- it's as simple as that. The blockchain is a relatively new technology, which is why many entities tend to overestimate their potential or prematurely draw their global impact conclusions. However, there are other aspects that still underestimate it, even though you can hardly see them on today's crypto-chain news sites.
The healthiest way to blockchain is to accept it, have its pros and cons, and get as many benefits as possible. Many companies insist on this approach - they are implementing this technology, there is not much fuss. In general, these large companies integrate blockchain solutions with existing systems.
I also noticed that the first ad attached to your linked video is bitcoin. This is fundamentally a very secure trading base, but the actual availability of Bitcoin has been ruined by those trying to trade on the general money market -- it was meant to be replaced, not joined. Therefore, Bitcoin is hoarded as "wealth" because people have not adapted to more mentality. The purpose of Bitcoin and other cryptocurrencies is to keep circulation, not to be locked. Those "coins" that are locked are essentially worthless, and those in circulation add value. I also think that multiple servers should be set up to classify "lost" coins so that coins that are not in circulation after the shortest time can be "mined" again.
Blockchain is just a means of tracking transactions. As far as your video is concerned, this is not the coin being traded, but the source of some information. I designed my own perpetual motion machine (a completely closed system that never drives anything, so it can't be "free energy"). If it is a free energy system, I deserve to spend time ensuring that the design is sent to the blockchain environment. No one can tamper with the original information, but everyone can share it freely.
Recently, JPMorgan Chase -- the largest bank in the United States -- published a report on blockchain and cryptocurrency. The bank's analysts said that the value of cryptocurrencies like Bitcoin has not been confirmed. Given the CEO's view of Bitcoin, such a judgment can be expected. At the end of 2017, he said that Bitcoin was a fraudulent act and he would fire any JPMorgan traders who were caught with the trading password.
But what can JP Morgan Chase analysts say about the blockchain, especially when the bank itself proposes a l l t solution through its arbitration platform? Well, the bank giant seems to be not enthusiastic about this technology. The research paper shows that there are too many hype around the blockade chain, and there will be no major changes in the next three to five years.
So if you want to find an objective answer, you can also consider JP Morgan Chase's position - yes, the blockchain is overrated, but that doesn't mean it doesn't work, or it doesn't help in many ways. This hype effect is obvious because many individuals and organizations are manipulating the entire community in order to attract capital or raise brand awareness. Think about how the riot blockchain has changed from a biotech company with a different name and how its share price suddenly jumped. There are many cases like this. A similar phenomenon has also occurred in the adoption of the Internet, and Nasdaq has made huge gains.