Corporate America's blockchain and bitcoin fever is over
S&P 500 executives are dropping blockchain buzzwords less on earnings calls and during presentations to analysts and investors. Analysts are also asking about it less.Read more: https://www.axios.com/corporate-america-blockchain-bitcoin-fervor-over-fb13bc5c-81fd-4c12-8a7b-07ad107817ca.html
Why it matters: The hype was just that. The odds of a company turning blockchain “headlines into reality” are slim, as Forrester Research predicts.
The prospect of incorporating blockchain technology or cryptocurrency into businesses excited investors and drove up share prices temporarily — just look at Kodak, beverage company Long Blockchain, or Hooters franchisee Chanticleer Holdings — so it's no wonder executives wanted shareholders to know that they too might get in on the new technologies.
At the peak earlier this year, “blockchain” was mentioned 173 times, according to an analysis of company transcripts by Axios. The number has since fallen as much as 80%.
Bitcoin was never as popular. Dropping that word or “cryptocurrency” was most common in the first quarter of this year — with a mere 68 mentions.
While the hype and buzzword status may fade the underlying technologies are here to last. I think it's good to lower the hype somewhat. Companies were just slapping the word blockchain or crypto on to anything just to boost their values without ever having a vision that made much sense. There also seemed to be a lot of attempts to use Blockchain for things that it just isn't better at.
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