Gartner Says Blockchain is Currently at the Disillusionment Stage Within the Hype Cycle

The blockchain technology is not living up to it’s big hype, at least according to Gartner’s Hype Cycle. A recent report made by The Next Web’s Hard Fork shows that the interest in the blockchain is decreasing and that many blockchain implementations are failing to live up to expectations. Because of this, investment is bound to decrease, too, unless some results are discovered.

The Hype Cycle is something created by Gartner, a graphical representation of how people get hyped about the new technology and then end up abandoning as they discover that the hype was too big. The company affirmed that the blockchain is “sliding into the trough of disillusionment”.

According to the company, most blockchain technologies are still from five to ten years away from having a real revolutionary impact in the world, but investors are often not that patient. They gave their money for development, now they want results.

Source: Gartner (October 2019)

Avivah Litan, an analyst from Gartner, believed that the blockchain has not been able to achieve the expectations mostly because it is still stuck in experimental mode, which is still set to happen for a quite long time.

According to her, the technology will only mature by 2028, when it will be fully operational and able to properly scale up. Fortunately, not everything is pure bad news. Some platforms will be scalable and interoperable by 2023, which will start some progress in the area and finally lead us to Web 3.0. Here is her direct quotes on the matter.

“Blockchain technologies have not yet lived up to the hype and most enterprise blockchain projects are stuck in experimentation mode,”

Adding; “Blockchain is not yet enabling a digital business revolution across business ecosystems and may not until at least 2028, when Gartner expects blockchain to become fully scalable technically and operationally.”

And finally “We are witnessing many developments in blockchain technology that will change the current pattern. By 2023, blockchain platforms will be scalable, interoperable, and will support smart contract portability and cross-chain functionality. They will also support trusted private transactions with the data confidentiality required. Altogether, these technology advances will take us much closer to mainstream blockchain and the decentralized web, also known as Web 3.0″

Gartner has been looking at the blockchain for a long time now and it noted back in 2016 that the blockchain already was suffering from being overhyped. While it might be frustrating to have to wait for so many years, at least there is hope for the future.

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Author: James W

84 Year Old Bagel Loving Woman Foils a ‘Sextortionist’ Con of More than $1,400

84 Year Old Bagel Loving Woman Foils a 'Sextortionist' Con of More than $1,400

An 84 year old woman living in the United States was subjected to sextortionists looking to make some Bitcoin from engaging with her after she had signed up to Panera in order to get a complimentary bagel for her birthday. Panera is more commonly known among Americans as a popular restaurant brand, more common for its food than its Bitcoin-related scams.

The woman, known as Arlene Kaganove had explained that he initially applied for a ‘MyPanera’ reward card in order to qualify for a free ‘everything bagel’ for her next birthday, as she explained during an interview with NBC 5.

Kaganove argued that she was always up for a capitalizing on a good deal or free gifts, but got more than she bargained for with this one:

“I am always signing up for whatever comes free on my birthday,” she said. “Never anticipated it would lead to extortion letters.”

These extortion letters were nowhere near what the 84 year old was expecting from a loyalty card, but this didn’t stop her from seeing some of the comedy in the situation.

“They say they have been watching me watch porn,” Kaganove went on to explain. “Which I find… hilarious.”

Even though she was able to see the funny side of it, the fact remained that the unsuspecting Kaganove was subjected to several hostile and very threatening emails.

Within these same messages, the sender had allegedly obtained footage of Kaganove watching porn, demanding that she send over $1,400 worth of Bitcoin in order to have the footage returned.

“They told me I have very good taste in porn so I thought that was nice,” Kaganove laughed upon recollection.

The one positive out of the whole situation is the fact that Kaganove has demonstrated a very pleasant optimism and a great sense of humour throughout the entire thing.

She went on to explain that there was a serious hole in their entire range of allegations. If these scammers were, in fact, able to record her doing these kinds of things. It remains very unlikely that they would have actually seen “a little old lady cursing at the computer because it’s not doing what I want it to do.”

Before she went on to retire, the Chicago resident was a very learned individual. Kaganove having successfully obtained two masters degrees; one in Chemistry as well as another in Law. And unfortunately for the sextortionists, she absolutely did not take the bait.

Upon a brief piece of deductive reasoning, she discovered that she was being targeted after signing up for the Panera rewards program. This was further substantiated by the fact that they cited her username and password in email correspondence.

Having contacted Panera shortly after, the restaurant went on to confirm that its dedicated website was in fact hacked, with customer data unfortunately being leaked late back in 2018. This data included a range of customer names, along with their contact information, addresses as well as dates of birth.

Panera has since confirmed that less than 10,000 customers were affected by this hack.

“No MyPanera Rewards account passwords were exposed during the April 2018 incident,” Panera went on to say within an issued statement. “We also went over our forensic records from last year and confirmed that Arlene’s account was not accessed improperly.”

Kaganove is on a more protracted mission, however, expressing a personal desire that no one else falls victim to this kind of extortion:

“If they are sending six [letters] to me, they are sending a lot more to people… I am sure someone is sending them money.”

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Author: James Fox