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Friday, November 23, 2018

Ditch the term Blockchain?

I agree, when hype exceeds reality you have to take great care.  Start with a good business case.

Via Fortune, a short talk by execs.

Time to Ditch the Word 'Blockchain', Report Says

A new report from Forrester Research says the buzz around blockchain, a technology that creates tamper-proof records across multiple computers, is so over-hyped that some companies are dropping the word altogether.

According to Forrester, firms are ditching the b-word in favor of “DLT,” which is shorthand for distributed ledger technology—a more descriptive, if less catchy, term.

The report comes at a time when blockchain marketing is everywhere, including during the recent World Series, when IBM touted its blockchain services in TV commercials.
While blockchain is an important new technology, some firms are over-hyping its usefulness or simply repackaging existing services—a practice the report, which endorses the use of “DLT,” describes as “blockchain washing.”

“The networks that are live or under development vary greatly and frequently lack key characteristics that many regard as essential components of a blockchain,” the report states, adding the term blockchain can also carry negative “wild west connotations” of cryptocurrency.  ... " ... '

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