Representatives of the consulting company McKinsey noted that during the 2017-2018 blockchain industry has attracted huge investments from large corporations, venture firms and individuals. in Spite of this, progress in the industry is insignificant.
In particular, according CoinSchedule, for 2018 only by the ICO was drawn to the industry of $21.4 billion According to analysts at McKinsey, the progress achieved does not justify the investment in blockchain-sphere:
“In the end, despite the billions of dollars of investment and about the same number of headlines in the media, evidence of practically relevant and scalable uses of the blockchain is negligible”
The consulting firm argue that the blockchain technology is still in the very early stages of development. In addition, by itself it is relatively complicated, expensive, unstable and unregulated. Moreover, so far the new industry cannot emerge from this initial stage of development, to move towards growth, maturity and mass adoption.
The graph below in blue marked the point on the curve, where currently the technology:
According to representatives of McKinsey, to date, has already created a lot of prototypes blockchain solutions. However, all of them far from mass adoption and implementation on an industrial scale. The overall prospects for the industry, the company notes, seem to be vague.
In addition, be sure to McKinsey, is relatively complex to implement solutions based on the blockchain need not in all areas.
“Occam’s razor is a methodological principle, which means that the best usually is the simplest solution. On this basis, the use-cases with payments on the blockchain may be unjustified”
However, be sure to McKinsey, there are industries in which the blockchain would be a good idea to prove itself. To adopt the technology companies focused on innovation.
“Examples can serve as areas such as insurance, supply chain, capital markets, where the distributed registries can solve problems of inefficiency, fraud and increase the transparency of processes”
The fact of the introduction of the blockchain, the researchers believe, is always a positive signal to their shareholders, which hints that the company is committed to innovation.
ForkLog previously published review of real solutions to the problems using the blockchain in 2018.