Trends Report

Blockchain — Don't Believe In Miracles

The Technology Is Unlikely To Live Up To The Claims Made For It

October 16th, 2015
Martha Bennett, VP, Principal Analyst
Martha Bennett VP, Principal Analyst
With contributors:
Pascal Matzke , Jacob Morgan , Carmen Margarit-Stoica , Karen Traikovich

Summary

What's not to like about a technology that promises lower-cost banking and payments; a better way to record and prove asset ownership; immediate, fraud-free election results; irrefutable authenticity verification; and connected devices using smart contracts to liaise? These — and more — promises are made for blockchain, the technology best known as the basis for Bitcoin. But how realistic are those claims? How close are they to becoming reality? This report guides CIOs on how to assess the potential of blockchain technology and what actions to take today.

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