Blockchain Facing “Make-or-Break” Year in 2017

Blockchain technology is looking at a “make-or-break” year in 2017, according to Eric Piscini, a principal with Deloitte Consulting.

In a recent blog post, Piscini said that, while there are plenty of proofs-of-concepts for the technology, there needs to be more live implementations before it can prove its true potential outside of the financial sector.

He suggests that financial institutions need to move toward full-blown solutions, as well as form industry consortiums to unlock mass-scale value.

“For blockchain to remain relevant, the entire industry should come together,” he writes, concluding that other hurdles the technology must overcome are performance and scalability issues, regulatory and legal frameworks, security, and education.