Blockchain technology: the discrepancy between expectations and reality remains large

the keeps The Blockchain technology of a evidence-based study of the actual Use. As a new study shows, there is a veritable hole between promise and reality when it comes to concrete use cases for the Distributed Ledger technology (DLT). This emerges from a study, the merltech.org on 1. December, published.

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On 7. December 2018 share Facebook Twitter LinkedIn xing mail

MERL, which stands for Monitoring (monitoring), Evaluation (assessment), Research (research) and Learning (cognition) is an evidence-based heuristic, the potential of technological innovations to assess realistically. The authors, John castle, Christine Murphy, and Jean Paul Pétraud for the first time subjected to the Blockchain technology is one such investigation. The authors tested the technology in accordance with the MERL-procedures on the heart and kidneys. You have to say it: The results are sobering.

< p > evidence-based examination of the applicability

What is the Blockchain? How does it work? Where is an application useful? The list of questions should ask the company if you are thinking about the implementation of a Blockchain, can be expanded.

have to conclude, As the authors of the study "Blockchain for International Development: Using a Learning Agenda to Address Knowledge Gaps" however, do not seem to be too many companies care about such questions of principle. Hype triumphed often over Ratio.

to reach this result, are taken by the authors as follows: for example, you identified 43 possible Blockchain use cases and promises such as "cost reduction", "data backup" and "improved security infrastructure". According to the report, this was the easy part of the MERL-Tests.

Difficult as it was, however, as the authors tried, the possible applications of actual implementations. To make it concrete: castle et al. found not a single case in which the companies were able to the promises of the White Paper – as of now – redeem.

This does not mean that no product went live; however, the promised Disruption was not achieved in all the cases studied.

Practice what you preach

Also in terms of transparency, the authors of the industry-not a good testimony:

"Despite all the hype about how Blockchain transparency in processes and procedures in environments with low trust, something the industry is self-opaque",

it is said in the report.

Critical consequence of this lack of a transparent information policy is also a lack of co-operation between the Blockchain-companies:

"Blockchain-companies that develop prototypes, should not keep, what they themselves preach – improvement of transparency by exchanging data and experience about what works, what works and why."

This leads to avoidable failures repeat.

What to do?

The MERL approach, the authors, however, could remedy the situation. For this, they self identify critical issues, which the project Manager during the development process. Through this evidence-based method can detect the developer at an early stage whether a project seem promising or not. Including control questions, such as:

is What wins the company by the implementation of the DLT? There are not cheaper ways to provide better transparency? The System can be located on other areas of the company? Adieu Blockchain Washing

The Hype is over. While it was in the last year, companies were able to multiply its share price by adorned with the word "Blockchain", is evident in dealing with the technology these days, a certain Ratio.

The Gartner Hype Cycle, according to a development was to be expected, as you observe the authors of the study. Therefore, always disappointment following in the Wake of the establishment of new technologies on the Hype. Then, according to Gartner, those companies on the market that offer real value. This Phase is now at hand.

as Long as a majority of the projected Blockchain-runs applications in the Sands, it must be hot but more: Bitcoin, not the Blockchain.