A report by Forrester claims that 90% of existing blockchain pilots will never become part of their respective company’s long term operations. For blockchain, the innovation is occurring at the protocol level and not in applications. To date, there are only three working protocols in Bitcoin, EOS and Ethereum and the market is battling it out to see which protocol is the most efficient and scalable.
And being the rational, self-serving organisms that we are, humans will always vie to compete in the pool with the largest cash-prize. According to Gartner, there are more than 100 blockchain platforms/protocols being developed today, which wouldn’t be as big of a problem if most were placing a significant focus on interoperability, however, very few are.
The problem is that 90% of blockchain projects businesses are working on have centralized designs, which don't actually require blockchain technology, according to Valdes. Businesses would save time and money creating more secure projects if they avoided blockchain altogether.
Will blockchain eventually have its day in the sun? Almost certainly. The technology just needs time to mature and businesses need a clear vision of what they need.