Gartner’s Hype Scale Says Blockchain Is in the “Trough of Disillusionment” Cycle
Research Firm Gartner Declared Blockchain Enters “Trough of Disillusionment”
Research firm Gartner released a report entitled Hype Scale Emerging Technologies and listed blockchain as one of the technologies on its hype list. As the report explained, blockchain technology is currently on the edge of a “trough of disillusionment” phase of a larger cycle, that will ultimately lead to a “plateau of productivity.”
As the report further adds, a “trough of disillusionment” is essentially when “interest [in the technology] wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.” This concept was explained on Gartner’s website.
The firm’s VP Mike Walker stated that “digitalized ecosystem technologies are making their way to the Hype Cycle fast” and that “blockchain and [Internet of Things] platforms have crossed the peak by now, and we believe that they will reach maturity in the next five to 10 years, with digital twins and knowledge graphs on their heels.’
It is fundamental that the technology shifts from being compartmentalized technical infrastructure and grows to be an ecosystem-enabling platform. Moreover, the blockchain technology, which is part of a digitalized ecosystem, features four different technology trends as part of the hype cycle, which include: democratized AI, do-it-yourself biohacking, transparency immersive experience, and ubiquitous infrastructure.
Gartner’s report also states that the Hype Cycle for Emerging Technologies is the longest-running annual Gartner Hype Cycle and it attempts to provide cross-industry perspective on technology and trends.