The blockchain sector entered the scene at full-force this year. There was even speculation that the technology would surpass cryptocurrencies in the future. Now, however, a Gartner blockchain survey has indicated otherwise. 

Blockchain Technology: Is it Popular or Not?

On Thursday, Gartner released the results of its latest survey. The survey looked at 3138 Chief Information Officers (CIOs). Essentially, the results indicated that most CIOs are aware of blockchain technology, but only a percentage of those surveyed plan to actually integrate the technology. Further, the survey indicated that the current status of blockchain does not reflect the technology’s future. In fact, Gartner stated that the survey proves that blockchain is “massively hyped.” 

The survey not only indicated that blockchain is a technology that may not prove to be a success down the line, it also pointed to issues of skills acquirement. This is reportedly a common problem people face when trying to use the technology.

Here are some important numbers from the Gartner CIO survey: 

– 66% of CIOs know about the technology 

– 22% plan on using the technology

– 14% of CIOs are looking to use the technology in medium to long-term planning

– 8% are looking at using the technology for “short-term” implementation.

Gartner conducted this survey for one reason, in particular. The team wanted the masses to recognize that there is a difference between what the technology can do today, compared to what it will be able to do in the future, how it will transform future companies. 

The Takeaway

It is interesting to see these kinds of results. After all, numerous companies switched over to the technology in 2018. This includes companies like ChinaNet Online Holdings (NASDAQ:CNET), and Long Blockchain Corporation (OTCMKTS:LBCC).  When these companies (and most of the other companies who made similar moves) first announced their pivot into the sector, their stocks soared. However, both stocks dropped back down a few days later.

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