Blockchain was a hot topic throughout the week at Gartner Symposium 2017.
Don Tapscott gave a keynote on blockchain on the first day of the conference, and his claims about Blockchain weren’t subtle.
The technology likely to have the greatest impact on the enterprise and the global economy has arrived. It’s Blockchain. The first generation of the digital revolution brought us the Internet of information. The second generation—powered by blockchain technology—is bringing us the Internet of value: a new, distributed platform that can help us reshape the world of business. Don argues that blockchain technology will transform financial services, but also the deep architecture of the corporation, animate the internet of things, recast the role of government, and fix the music industry, among others. He argues that the second era of the internet has profound implications for competitiveness, business strategy, architecture, and leadership.
Don has also given a TED Talk on blockchain, his son Alex gave a Talk at Google about the Blockchain Revolution, and together they wrote a book by the same title (which has gotten lukewarm reviews on Amazon).
Gartner named blockchain one of its Top 10 Strategic Technology Trends for 2018.
And predicted blockchain will create more than $3 trillion in business value by 2030.
But notice little of that value comes in the next decade. Blockchain is now where the Internet was in the 1990s, a niche technology that was confusing to most people and where the early success stories were not the firms that proved to have staying power.
And like the Internet and other disruptive technologies, the early hype will soon give way to cries of overpromising & underdelivering as mainstream adoption lags. Gartner predicts blockchain is about to enter the trough of disillusionment.
The next few years will be volatile for blockchain, but like Pets.com and the dot com bust, it’s just a precursor to what will be a hugely transformative technology.