Blockchain's Hype Dies Down, Infrastructure Takes Over

Blockchain technology was once hailed as a revolutionary force that would disrupt industries and change the way we live. However, over the past few years, its hype has died down significantly.

In a recent article, a writer reflected on their book 'Blockchain: A Hype or a Hoax?', which they wrote several years ago. They noted that at the time, it seemed like the right question to ask, but now they think a third option - infrastructure - is more accurate.

The writer recalled how companies used to add the word 'blockchain' to their presentations, even if they didn't need the technology. New cryptocurrencies emerged daily, and we were told that banks would disappear and intermediaries would become irrelevant.

However, things have changed since then. The DeFi, NFT, metaverse, and Web3 hype has subsided, and people are no longer talking about 'blockchain transformation'. NFTs are no longer a hot topic at tech conferences, and most people still aren't using blockchain-based solutions for everyday tasks like buying coffee.