There is a direct correlation between the people investing in blockchain technology and the motivation to tout said technology as an all-encompassing cure-all for data management and security concerns. You don’t have to understand the technology to be able to invest in it (though you probably should), therefore, a prolific rate of investment doesn’t necessarily always correspond to the practical, real-world effectiveness and viability of the product. Investors and commentators are tied to blockchain’s potential value, which doesn’t exist in a vacuum. The realized value comes through mass adoption and implementation… first mover advantage isn’t the end all (see article).
The fact that blockchain is not easily understood by the persons charged with creating and implementing business and compliance strategies is a roadblock towards utilizing it in a meaningful manner that leverages its full menu of benefits.
Likely, the hype will subside (or has it already?) for the blockchain concept, and certain usable aspects of it will be parsed out throughout industry and used to improve disparate legacy systems. As with all things, there is a middle ground between blockchain as a magic elixir and its perception as the Google Glasses of 2017.
Blockchain, the shared database technology that powers cryptocurrencies such as bitcoin, has over the past three years developed an almost unchallenged reputation as the next big thing in finance and technology. Many prominent financiers, technologists and entrepreneurs have staked their reputations and fortunes on it.