I work in public sector digitisation. We’ve spent a lot of money on blockchain proof of concepts, sales meetings and general hype. My colleagues in banking have spent even more.

All those resources have been a complete waste so far, and they’ve entirely been spent on blockchain because of hype. That is extremely bad, because all those resources could have been thrown at something useful.

For whatever reason blockchain has been extremely resilient to reality. It’s almost been a decade, and we’ve yet to see anything purposeful come our way. It’s still on Gartners list for 2019 though, so I guess we’ll spent another year burning money.

> Hype can be bad, but if there is value there the hype cycle does wear down

That is, if something called the "Hype Cycle" even exists. The Hype Cycle is a canonical example of survivorship bias and post hoc rationalization [0]. It is pretty much a compelling narrative not a reflection of technological evolution.

[0] https://www.linkedin.com/pulse/8-lessons-from-20-years-hype-...

If.

Exactly.