{"id":9985,"date":"2020-05-06T08:00:00","date_gmt":"2020-05-06T16:00:00","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=9985"},"modified":"2020-03-12T06:42:45","modified_gmt":"2020-03-12T14:42:45","slug":"blockchain-resurgent-interest-in-decentralized-tracking","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/blockchain-resurgent-interest-in-decentralized-tracking\/","title":{"rendered":"Blockchain: Resurgent Interest in Decentralized Tracking"},"content":{"rendered":"\n

Blockchain technology has been on a roller coaster of hype. 2019 saw a sharp increase in criticism of the technology.<\/p>\n\n\n\n

Harvard Business Review<\/a> said that “although we share the enthusiasm for its potential, we worry about the hype. It\u2019s not just security issues (such as the 2014 collapse of one bitcoin exchange and the more recent hacks of others) that concern us. Our experience studying technological innovation tells us that if there\u2019s to be a blockchain revolution, many barriers\u2014technological, governance, organizational, and even societal\u2014will have to fall.”<\/p>\n\n\n\n

A Bloomberg article<\/a> by Noah Smith<\/a> summarizes “So although blockchains seem like an important technological advancement, they haven\u2019t yet proven themselves. They remain high-cost solutions, often beset by chaotic competition, and they exist in ecosystems beset with dishonesty, fraud and human error. Blockchains might have a chance to change the world someday, but there\u2019s also a chance they will prove useless.”<\/p>\n\n\n\n

But a new round of hype is starting again. A survey from WiPro<\/a> titled ‘Ignore blockchain at your peril, but don\u2019t drive blindly,’ again shows that there still remains strong interest in blockchain.<\/p>\n\n\n\n

The WiPro survey found that:<\/p>\n\n\n\n