The Peak of Interest in the Blockchain is yet to come

In many industries, the peak of interest in the blockchain still lies ahead, but in some places, the excitement around this technology is already beginning to subside. Gartner analysts mentioned about it.

By their words, the popularity of smart contracts has become maximum by July 2019, and in the future, it will weaken. The blockchain technologies used in insurance, education and the public sector, as well as in the banking industry, investments and loyalty programs also decreased.

According to a survey of IT directors, the banking and investment services sector will continue to strongly attract developers of innovative solutions that will help improve outdated operations and processes.

However, only 7.6% of respondents said that blockchain is a technology that can dramatically change the situation. Only 18% of IT directors working in banks and investment companies said they had implemented or would introduce some form of blockchain over the next 12 months. Another 15% intend to do this in the next two years.

Most analysts agree that the future of modern e-commerce is blockchain technology. According to forecasts published by IBM, by the end of 2020, about two-thirds of banking operations will be carried out using this technology.

In 2018, Gartner noted the weak interest of companies in the blockchain: then 77% of the questioned IT directors said they had no interest in the technology. 43% of respondents did not plan to conduct any work and research in this area, although they followed the news on the market.

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