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Blockchain is ‘Overhyped’ and Tech Pros Aren’t Sure It’s Viable: Report

By 2020, blockchain may be something well in our collective rearview mirror, if tech pro responses in a recent HackerRank study are any indication.

In its 2019 Skills Report, HackerRank queried over 71,000 respondents about which technologies they felt were viable. More to the point, it asked which technologies would be applicable in real-world scenarios in 2020 and beyond.

Almost 20 percent said blockchain was “overhyped,” with an additional seven percent saying it was “unrealistic.” Nearly 22 percent said they were unsure if blockchain was going to work out. All told, that’s just about half of respondents dubious of blockchain. (It’s also closely aligned with Dice’s own findings; our recent survey showed 22 percent of you think blockchain is “nonsense.”)

Nearly 28 percent told HackerRank that blockchain is “somewhat realistic,” while close to 24 percent believed its use in real-world scenarios is “very realistic.”

Among the surveyed technologies, Blockchain had the highest percentage of tech pros saying it was “overhyped,” but it wasn’t the worst-received technology on the list. Quantum computing had the highest percentage of respondents saying it was either overhyped, unrealistic, or they were unsure of its use-cases; it also had the lowest percentage of people seeing it as “very realistic.”

On a more positive note, deep learning had the highest combined percentages of “somewhat” or “very realistic” votes. A close second was the “Internet of Things” (IoT), while augmented reality, “cloud ML,” and computer vision were all knotted up in a close race for third place.

We should note “overhyped” doesn’t necessarily mean people don’t believe a given technology will work out. Both the Internet of Things and augmented reality had fairly high marks in this category, yet both are on the road to broader adoption. AR, for example, is undoubtedly a viable technology many believe will explode with unique heads-up hardware.

If we’re examining this for trends (and we are), augmented reality, machine learning, and the Internet of Things are safe bets leading into the next decade. What may prove more interesting is how these well-received technologies interact with one another as they evolve; for example, machine learning will no doubt end up powering a portion of AR experiences.


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