Blockchain in 2019: A Level-Headed Approach
As the clock ticks down on 2018, senior executives from United Airlines and UPS aren’t popping any champagne corks over blockchain technology, and it’s no surprise. Despite all the buzz, it seems the hype hasn’t quite translated into mainstream adoption—at least not yet. According to Juan Perez, UPS’s chief engineering and information officer, and Linda Jojo, UA’s executive vice president of technology, these big players are keeping their eyes peeled for that elusive ‘killer use case’ that could finally give blockchain a place at the big kids’ table.
The Reality Check on Blockchain
While some enthusiasts are clutching their digital wallets in anticipation, reality has proven more nuanced. As Jojo candidly noted, “We have a small team looking at blockchain, but we are still searching for the killer use case.” In the world of technology, when you start hearing about “killing it,” chances are it’s not about the implementation—at least not yet.
Mixed Press Reviews and Investment Interest
2018’s rollercoaster ride for blockchain saw some companies witnessing stock price surges just by attaching the term to their branding. Who knew a couple of syllables could have such power? However, as the year has progressed, mixed reviews from the press and various enterprises suggest that blockchain might still be in its infancy. Many skeptics argue that it simply isn’t advanced enough to meet the groundbreaking promises it’s often touted for.
Global Interest and Adoption Rates
Despite the ups and downs, the international community seems to be catching on, with Tata Communications’ recent survey indicating a 44 percent uptake rate among global respondents. This suggests that while skepticism remains, the intrigue is also undeniably palpable.
The Government’s Stance: A Positive Signal
Interestingly, governments are getting in on the action. Italy, for instance, has unveiled a list of 30 “high-level experts” to help shape a national blockchain strategy, dive into development, and ensure they’re not left in the digital dust.
Looking Ahead: What 2019 Might Hold
However, for giants like UPS, as Perez warns, the real implementation may still be a distance away. “I don’t expect significant benefits in 2019, primarily because the technology itself is continuing to evolve and mature,” he explains, emphasizing the necessity for collaboration among multiple parties to evaluate potential applications effectively. So while unicorns and rainbows might dominate the dreams of blockchain enthusiasts, 2019 may still be a year of careful observation rather than frenzied adoption.
Conclusion: Patience Is Key
In summary, both UPS and United Airlines advocate taking a step back and refraining from diving headfirst into blockchain without a clearer understanding and robust applications. As we move forward, it seems the mantra may need to be: “Let’s not put the blockchain cart before the horse!” Time will tell if 2020 will finally be the turning point, but for now, it’s clear that a little patience—and perhaps a lot of research—are in order.
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