Like a new toy at Christmas, it seems like only a few months ago, all anyone could talk about was how blockchain was going to change the future like “the next Google”, now it is as if hardly anyone remembers what it was for.
A are report released Thursday by consulting firm Greenwich Associates found that implementing distributed ledger technology (DLT) at the enterprise level has been harder than expected.
The report collected data from more than 200 executives who work on blockchain initiatives or dedicated blockchain companies. The main coiners surrounded hardware security, confidentiality and scalability. 57% felt that blockchain adoption has been more challenging than initially thought.
Though blockchain is not the only type of DLT, it is one of the main technologies used where a database is managed by multiple participants, rather than a single entity to store information or settle transactions.