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With the recent collapse of FTX, investors now worry about the future of cryptocurrency. While some blame the technology, we should remember that people are corruptible, not blockchain. The ledger-based technology making cryptocurrency possible is as much a breakthrough today as it was yesterday. Unfortunately, crashes like FTX play into fears that blockchain is more hype than breakthrough. Will blockchain once and for all prove not very useful in the enterprise?
When blockchain technology spawned a new way of thinking about money and creating wealth, many in the enterprise IT space began thinking about using blockchain technology to streamline business processes. For example, the global supply chain is still not working as well as it could. More than a decade later, enterprise adoption of blockchain technology is crawling at best and stalled across the board in many of the world’s largest companies.
Blockchain is an emerging technology, meaning its full potential and practical uses are still evolving….