Gartner hype cycle
Carlos Pérez del Molino Team Leader

Gartner and the future of Blockchain. Part 2

In the previous post about Gartner we reviewed the first two stages of the Hype Cycle, where Gartner placed those less developed technologies, but at the same time more disruptive and innovative, and that also living a great moment in the media due to the expectations they arouse.

Today we are going to focus on the areas that correspond to technologies for which there are no longer so many expectations and therefore no longer arouse so much interest, or that have proven their strength in various use cases and are beginning to be consolidated as productizable.

Abyss of disillusionment

This, probably the coldest part of the cycle, is where Gartner brings together all the technologies that it believes have not met its expectations. They are usually technologies that are no longer a tendency and consequently the “mainstream” has abandoned them.

Currently at Izertis we have a lot of experience in managing projects and real use cases implemented in our BaaS

In this phase we identify various uses of blockchain in which we have worked at Izertis with real cases, such as Smart Contracts, consensus mechanisms and large blockchain platforms. We will focus on one that has given us great satisfaction and we believe that it is one of the fundamental legs of our business strategy, Blockchain BaaS. Currently at Izertis we have a lot of experience in managing projects and real use cases implemented in our BaaS. In the blockchain team we continue working on the incorporation of new services in our BaaS, which add value to our clients, generating new functionalities that manage to solve intrinsic problems of blockchain technology.

In this regard, we highlight the CONFIA project, where we use this technology to solve a social problem, where social services, city councils, energy marketers and citizens are involved. CONFIA streamlines the management of administrative procedures associated with non-payments so that there are no power outages for particularly vulnerable people. In this use case, our BaaS has had to evolve to be able to offer functionalities that are useful and that in the future will do so in other products or services that we offer to our clients.

Consolidation ramp

This is where Gartner places those developments in which it considers that companies continue to work despite the fact that the press does not give them much importance and they have stopped publishing articles about it. Technologies are usually placed with which they continue to experiment and bet on their definitive consolidation.

This year, Gartner places 3 trends in this sector, which are Dapps or decentralized applications, the ubiquitous cryptocurrencies and wallets. At Izertis we are betting on the development of wallets focused on the use of SSI credentials. As we have already mentioned in this article, we believe that the evolution and consolidation of wallets based on the use of SSI is evident, but we want to emphasize another of the project where we are putting this functionality of Blockchain technology into practice. This is the Blockchain-based Academic Passport for the Caribbean Project, where we have implemented a blockchain system to collect all the academic degrees of users, in a "single document", establishing a procedure for homogenization and verification of degrees for several countries in the region of the Caribbean, which could be extended in the next few years to the rest of Latin America. Izertis' proposal is aligned with existing work at Alastria, EBSI and ESSIF. In this way, the interoperability of this system implemented in LACChain with the systems of both Alastria and the European Commission is guaranteed. In addition, compliance with the different international standards is guaranteed, since the solutions mentioned also meet them.

We believe that Izertis' expertise in the use of this technology is getting extended every time, finding ourselves in a position to build products and services for our clients who want to make use of this fantastic technology.

Productivity plateau

Finally, we are in the last phase of the cycle, where those technologies that have clear, proven and globally accepted benefits are located. In this phase, Gartner invites us to reflect. What products or services related to blockchain technologies do you think have already entered this phase? We already have our bets and we believe that we will soon see many consolidated use cases that allow us to continue advancing and consolidating accurate business models that are perfectly aligned with the use of technology and the needs of our clients. That is why at Izertis we apply a work methodology that allows us to carry out a prior and specific digital transformation consulting work developed for Blockchain projects. We know that on many occasions the disruption posed by this technology is so profound that it needs a more exhaustive analysis, where we need to rethink its new business model, new distribution channels, key activities, marketing, etc. All this with the aim of obtaining maximum satisfaction for our clients and end users.

And so far, our analysis of Gartner's Hype Cycle for this year. From Izertis we will continue working with a firm step towards the consolidation of innovation in the bubbling blockchain world and its real profits.