An analysis of transcripts by Axios from 2017-2018 pointed to a marked decrease in mentions of bitcoin, blockchain, and cryptocurrency among executives and analysis at S&P 500 companies.
According to Axios, leading companies became excited with cryptocurrency and blockchain technology due to the potential of integration into company operations.
Now it said the number of mentions of ‘blockchain’ has dipped as much as 80% since the start of the year, even though talk about distributed ledgers and blockchain tech was always a lot more popular than discussions about bitcoin.
Was It All Just Hype?
Some point to the decrease in mentions of blockchain and bitcoin among executives and other leading staffers as evidence the initial hype was just a bunch of hot air.
About a year ago, Martha Bennett of Forrester Research noted how the firm’s upcoming blockchain predictions speculated about “some serious pruning of projects in 2018.”
Bennett wrote how Forrester predicted the upcoming year would be one of “reckoning for blockchain initiatives.” Only ones that “have a deep understanding of the technology” and its potential would keep pushing ahead for the future, according to Forrester.
Axios cited the example of DXC Technology to make a point about declining blockchain discussions. The company mentioned blockchain five times in a May earnings call but neglected to bring up the idea in two subsequent calls. The firm did not respond to Axios for a comment.
The news outlet also wrote how bitcoin and other cryptocurrencies still have a number of loud critics and a reputation of “volatile trading.”
Some Companies Have Embraced The Technology
Other companies, such as IBM, seem to remain resolute in embracing technology like blockchain. It currently has 1,500 staffers dedicated to blockchain-related projects and has publically mentioned the technology numerous times.
CryptoGlobe recently reported on the integration of a blockchain-based platform created by IBM and Maersk into the Port Authority of Valencia’s operations. The platform purportedly helps cut down shipment transit times and aimst to promote industry transparency.