Gartner’s latest technology hype cycle puts blockchain past the peak of expectations and close to entering the trough of disillusionment. A few months ago, in its blockchain hype cycle report, Gartner said about 60% of CIOs across sectors expect some adoption of blockchain in the next three years. Sources: 5 Trends Drive the Gartner Hype Cycle for Emerging Technologies, 2020 by Kasey Panetta. The crypto winter of 2018 and the billions of dollars stolen in hacks and fraud were enough to weed out most of the serious projects from the flashes in the pan. “Altogether, these technology advances will take us much closer to mainstream blockchain and the decentralised web, also known as Web 3.0”, Litan explained. Since 1995, research and advisory firm Gartner’s annually updated Hype Cycle for Emerging Technologies has been a staple of market commentary about the adoption of various digital technologies. From providing an easier way to keep tabs on our acquaintances to aiming at creating its own currency. Al Gore says he has no regrets over conceding 2000 race to Bush. The Gartner Inc. 2019 Hype Cycle for Blockchain Technologies shows that blockchain is sliding into the Trough of Disillusionment. An entirely new blockchain with a new token. The second Peak of Inflated Expectations phase is where blockchain technology is currently at. That’s hardly encouraging for the blockchain and crypto pioneers who’ve been clamouring for mass adoption. This makes the Hype Cycle particularly silly to invoke right at the trough — because that’s literally the moment when you don’t have evidence your favourite thing has any substance, and will recover. Today Gartner revealed that blockchain has entered its 2019 hype cycle for CRM sales. Blockchain has hit the peak of its hype cycle according to Gartner. In fact, if you check out the cycle above, you’ll see how blockchain was thrust into the public domain and then incessantly hyped by the media using words like ‘immutable’, ‘decentralised’, and ‘secure’. laurence.goasduff@gartner.com. The Gartner Hype Cycle for Emerging Technologies, 2017 focuses on three emerging technology mega-trends: Artificial intelligence (AI) everywhere, transparently immersive experiences and digital platforms. and mismanaged projects that came out of the ICO craze would eventually lead the regulators to quash it. Follow news and updates from the events on Twitter using #GartnerSYM. Clearly, interest in blockchain is waning as many experiments and ideas have failed to come to fruition. To learn more, visit our Privacy Policy. This is nothing new for new technologies, however, and it’s natural that it will take some time before the infrastructure, capability, and mindsets are in the right place for it to have a meaningful impact on our lives. The announcement comes less than a month after the blockchain hype cycle … The market will traverse the Trough of Disillusionment before significant value is realized. In fact, if you check out the cycle … In terms of sectors, it cites banking as the most mature, followed by government, education and insurance. The whole ICO phase took on a life of its own. We are a trusted advisor and an objective resource for more than 14,000 enterprises in more than 100 countries — across all major functions, in every industry and enterprise size. Early proof-of-concept stories and media interest trigger significant publicity. The hype cycle is a proprietary graphical representation developed by Gartner. Moreover, pioneering market entrants like Bakkt proved that institutional interest simply isn’t as big as we thought it was. The research organization identified five trends: Democratized AI, Digitalized ecosystems, DIY biohacking, Transparently immersive experiences … The hype cycle (below) features a wide variety of potential use cases, with the vast majority coming to fruition within the decade. This lead to Ethereum being called many things from a “scam” by Bitcoin maximalist Peter Todd to misleading. The crypto winter of 2018 and the billions of dollars stolen in hacks and fraud were enough to weed out most of the serious projects from the flashes in the pan. The Gartner Hype Cycle is a graphical presentation of emerging technologies passing through five phases. Clearly, interest in blockchain is waning as many experiments and ideas have failed to come to fruition. Most new technologies go nowhere. According to the Gartner 2019 Hype Cycle, blockchain is maturing and serious use cases are emerging, although blockchain on its own is in the “trough of disillusionment”. Ouch. Only a handful, such as an extremely nascent collaboration of blockchain and 3D printing, are seen with a longer timeframe. Additionally, concerns about how users will interoperate with partners that use different blockchain platforms for their projects must be rectified. Moreover. Blockchain-inspired solutions lead enterprise conversations. Hype Cycle for Blockchain Technologies, 2020 Published: 13 July 2020 ID: G00441585 Analyst(s): Avivah Litan, Adrian Leow Summary Innovative solutions supported by blockchain are mainly in an experimentation phase or limited-scale production. Gartner Gartner sees blockchain as a beneficial technology due to its ability to lower costs for data intelligence solutions and master data management solutions, yet it will take time for organizations to start relying on blockchain for lead generation, according to Adnan Zijadic, Gartner senior principal analyst. 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