WSJ Reports United Airlines And UPS Executives Think Blockchain Benefits Are Too Soon For 2019
UPS Exec Believes It Is Too Soon For Blockchain Benefits In 2019
Recently, some important executives from the logistics giant UPS have shared their thoughts about the future of the blockchain technology. According to him, unfortunately, 2019 will still not be the year in which the blockchain technology will finally go mainstream. The executives were interviewed by the Wall Street Journal in a report that was published today, December 28.
Juan Perez, the chief engineering and information official of UPS and also vice president of tech in the United Airlines, together with Linda Jojo, the Chief Digital Officer of UPS, affirmed that they are very non-hyped about the blockchain technology and that they are still searching for the “killer use case” that will make it famous.
They affirmed that, at the moment, they have a small team studying the blockchain technology and that they are still looking for the use case that will define the future, as they do not see one and they do not believe that it will appear in 2019 just yet, but possibly farther into the future.
The execs affirm that it is simply too soon to find a real implementation for the blockchain technology that will be as good as people hope that it will. According to them, it is not a realistic view to expect significant benefits in 2019 because the technology is still mostly focused on the whole process of evolving and maturing as much as it can before it produces a great solution.
By commenting that a real revolution will require a lot of parties and more evaluation of the technology, the duo made it clear that they are having a very level-headed vision about the prospects of the blockchain and that the team is ready to wait for it.
Interest In The Blockchain Technology Went Down During the Year
The blockchain received a lot of mixed reviews during the year. Both press and businesses saw the decline in prices accompany a decline in the interest in the technology. The main issue was clear: promises were made in 2017 and not a lot of them was actually fulfilled in 2018.
Despite all the potential of the technology, 2018 was a huge disappointment. It promises of innovation and disruption were simply not solid enough. While a lot of people believe that these promises will be fulfilled on 2019, some believe that this will only happen in the next decade and others that it will never be.
Many businesses saw a huge increase in price by using the blockchain term on their projects, so all the speculation actually made expectatives go up the roof and caused even more disappointment.
2019 will certainly be a year of recovering some of the trust that the blockchain tech has lost this year and to start new exciting projects to prove its potential will become a reality.