According to the updated definition by #Gartner A blockchain is an expanding list of cryptographically signed, irrevocable transactional records shared by all participants in a network. Each record contains a time stamp and reference links to previous transactions. With this information, anyone with access rights can trace back a transactional event, at any point in its history, belonging to any participant.
For those who are new to blockchain technology, a blockchain is one architectural design of the broader concept of distributed ledgers. While everybody is most people are giving a Thumbs-up to blockchain it is interesting that #Gartner has advised to #GoSlow or rather #SayNo to those intending to implement #blockchain in near future.
Nothing wrong in changing your view about a technology, Gartner researchers have changed their views and gone against majority opinion about about a technology hype in the past. It is interesting that Gartner researcher have enough data & case studies to advice the world to #SayNo to investment in blockchain. I am happy #Gartner think so and would love to know the data points that have made them change their opnion but but I am not surprised.
Note - You can read what #Gartner has to say on this link (Just say no to blockchain (for now) advises Gartner)
Like many other experts I have always maintained that
For those who are new to blockchain technology, a blockchain is one architectural design of the broader concept of distributed ledgers. While everybody is most people are giving a Thumbs-up to blockchain it is interesting that #Gartner has advised to #GoSlow or rather #SayNo to those intending to implement #blockchain in near future.
Nothing wrong in changing your view about a technology, Gartner researchers have changed their views and gone against majority opinion about about a technology hype in the past. It is interesting that Gartner researcher have enough data & case studies to advice the world to #SayNo to investment in blockchain. I am happy #Gartner think so and would love to know the data points that have made them change their opnion but but I am not surprised.
Note - You can read what #Gartner has to say on this link (Just say no to blockchain (for now) advises Gartner)
Like many other experts I have always maintained that
- Blockchain is a great idea but as of 2018 it is premature to implement blockchain for the enterprise
- Distributed Ledger in the blockchain technology is a great concept but it's implementation is also the biggest challenge
- The 'Concept of Ledger' is not new and 'immutable ledger' has been implemented using various technologies but no one has a perfectly secure, distributed & cost effective solution for a truly distributed ledger.
- More research and thought needs to go into the technologies to implement blockchain before throwing traditional databases ledgers out of the window.
As I have posted earlier, the concept of Distributed Ledger or a Cryptographically signed , irrevocable transactional records is great idea and but for all we know it may have been implemented in various ways in the past. What I am not sure is whether Blockchain is the 'ONLY WAY' to implement a 'signed, immutable, irrevocable transactional record'. Concern is particularly the blockchain environment/technology that is required to support a blockchain solution and I feel it may not be feasible to sustain blockchain for long time. Of course it is a new idea, there is a huge hype and someone ( no not the inventor!) is going to make lots of money if and when blockchain finally takes off.
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