Figure 1: Hype Cycle for Blockchain Technologies, 2019

For blockchain to become mainstream, Gartner said users shouldn’t have to worry about picking the right platform, the right smart contract language, the right system interfaces, and the right consensus algorithms. Additionally, concerns about how users will interoperate with partners that use different blockchain platforms for their projects must be rectified.

“We are witnessing many developments in blockchain technology that will change the current pattern. By 2023, blockchain platforms will be scalable, interoperable, and will support smart contract portability and cross chain functionality. They will also support trusted private transactions with the data confidentiality required. All together, these technology advances will take us much closer to mainstream blockchain and the decentralized web, also known as Web 3.0,” said Ms. Litan.

“Over time, permissioned blockchains will integrate with public blockchains, and will take advantage of shared services while supporting the membership, governance and operating model requirements of permissioned blockchains,” said Ms. Litan.―CT Bureau