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According to a survey, more than 35% of the respondents that took part in the survey, believe that blockchain technology is overhyped.

The survey was done to more than 1000 blockchain executives at companies that reach annual revenues of more than $0.4 billion. Most of them have locations in the USA, UK, Canada and some countries in Europe such as France and Germany. The highest percentage of people who believe this to be the case is in use which is almost 45 percent of the respondents. This is mainly because of the high rise in the tokens’ values in the past few years and this seems like a shift to pragmatism in the blockchain sphere.

This doesn’t necessarily mean that blockchain is going the wrong way or that the technology itself is bad or unnecessary. This technology is still in its early development and divided opinions are not surprising and are even wanted. The investment in this technology is still ongoing and companies now have invested more than $10 million. Countries such as France are among the countries that make the largest investments in this technology with more than 20 percent.

Those who support this technology do that because of its speed abilities and the potential of creating new business models. More than 15 percent believe that this technology helps their companies to cut losses and others claimed that this technology-enhanced security. Blockchain technology might be getting a lot of unwanted attention but it is, however, a lot closer to the major breaking moment.