Blockchain technology is still under development.
During the peak hype of 2020 and 2021, the future was here and buzz was extreme for bitcoin, ethereum, non-fungible tokens (NFTs) and the wide array of other coins and tools coming onto the market. During that time I was able to visit about half a dozen conferences and dozens of meetups and parties that were a part of the scene. So much hype.
So many new concepts and approaches came and went, but they all focused on speculation and were driven by incredibly early adopters, many of whom were in it for the quick cash turnaround/gains.
What was and is missing is stability and foundational technology layers.
The state then for blockchain tech was rough, with any new startup needing to build most of the foundational technology they needed themselves. This means spending time on work not core to their product idea/value proposition. Mass adoption was being pushed for, but with nothing to appeal to the masses.
BitcoinBTC 0.0% being a speculative asset is a tough sell for most of the U.S. and while those who already hold some may still be excited, the hold-outs (most people) are skeptical.
There is a tremendous amount that can and will be done with blockchain —just as there was with the web— but to really get people on board we need reasons for adoption.