I think quite the contrary actually. Blockchain is much underhyped currently, especially in the minds of society and specifically middle class folks. There was a great deal of hype last year which even I got around near this time, but the hype has clearly died since then. We can see this by looking at the day to day trade volume as well as the value of bitcoin and all the alt currencies as well. Like who would’ve known 3 months ago that steem would drop below $1? Not me for sure. So I don’t think it’s overhyped, but I think it should be based on how good it is and how it most clearly denotes our future.
No, I don't think blockchain is overhype but one thing I know is that blockchain won't solve all the problems in life. There's something called human nature and as long as it is there it will always factored in some problems that blockchain wont solve.
But what I would say is that even the brightest mind in the blockchain space now don't even know how much we can do with the tech. Everyone are just speculating, but so far we've not even had a tip of the iceberg. We'll run a lot of trial in different projects. Some will fail at the beginning, some will succeed, other's will need to collaborate with other disruptive tech like Ai, iOT, automation etc to be able to bring solutions.
Right now, the blockchain space is like a virgin real estate but unlimited. So, is blockchain overhyped? No. We are yet to see what the blockchain is truly capable of.
Blockchain technology is not over hyped but not all blockchain will get success as we have seen most of the crypto project got failed. Blockchain technology have ultimate potential but problem is, it still mysterious thing for major portion of population.
There is practical use of blockchain technology therefore companies like Microsoft are adopting it. Technology gets criticism in early stage but later get adopted, For example in India when computer implemented in banking system, people opposed it because it will reduced job. when automation implemented in manufacturing sector people opposed it, because it will reduced job but now people can not imagine their life with these technologies.
Those who oppose blockchain technology are core believer of fiat currency and Banks, they compare Bitcoin as a Ponzi scheme. foundation of blockchain technology made since launch of Bitcoin, the only thing we can expect that big companies should start taking its advantage. big companies should integrate blockchain technology in their main stream system that will grab attention of people.
Its like asking if the term internet is overused. In fact, terms like Decentralization and Blockchain technology have been hijacked by the popular media and is being used in a context that appears related at first glance but is actually technically incorrect. This has created an air of mystery around the blockchain technology that is making it difficult for people to trust it.
For example you will never see the media mentioning that the Blockchain in context of being a distributed ledger or its nature as a database. Granted that this does makes it difficult to understand, but at the end of the day we need to demystify this for the people. It needs to be shown that Blockchain is not overhyped but the term is being overused in the wrong context
in my opinion it is not excessive, it will even help every other class of society
i think there are many project on blockchain is underhyped they have lot more potential to grow like cradano, EOS, Steem, BNB. but there are many projects are over hyped on blockchain i mean 90% project are over hyped they have no working project no use-case they are come for making money in blockchain hype they no crypto is trending topic people are so attracted they are taking benifits from it. so if you see this 90% shit project then yes its over hyped and if you see remaining 10% its underhyped. so try to stay away from shit projects and always search good project. blockchain is really good technology and blockchain based project have potential to solve real world problem.
Not at all.
It is not overhyped by people who understand the limits of the technology. Other people have an exaggerated view about what blockchains csn do.
It is overhyped.
At least from my perspective, people been cheering this blockchain technology as the saviors for literally everything. However, if we take a look deep down in the technology itself, we could clearly see that the blockchain essentially tackles trust issues by providing a decentralized solution. Nowadays, literally most people think of blockchain technology as cryptocurrencies only. They hail the speculations and yell for the greatness of blockchain without really knowing much about this technology.
At the same time, there are a lot of tokenization being carried out as well. But how does they differ from the normal loyalty program which rewards the users with loyalty points? They would have to really offer a unique value to the users so that they could stand out and being adopted by people.
Anyway, unless there are more use cases being introduced or explored, the technology is indeed overhyped.
Blockchain Technology is a fantastic system for any kind of banking system. It is a very nice technology and most of the bank and government want to use this platform.