The MIT research paper claims that Blockchain "will continue to lose the Mainstream Momentum in 2019"

As from a piece of research published in MIT The "Technology Review" newspaper was published today, while the blockchain technology will continue to lose ground in 2019.

A more in-depth look at the subject

A closer look at this article proves it MIT the research staff did not really understand the impact that blockchain technology has had in a variety of different industries (worldwide).

According to the magazine, the advent of blockchain systems promised "a revolution that would have disrupted the global financial system", however, with the fall in asset prices and cryptographic currencies based on blockchain, the educational institution premier states that technology has "largely failed" (which is a rather ignorant statement to make).

That said, the piece goes on to say that while more and more important blockchain-based projects continue to gain prominence, 2019 could finally be the year that technology "will normalize".

Other aspects to consider

According to the article, smart contracts are one of the biggest positives deriving from the field of blockchain technology since their use is not restricted to a particular area and can be implemented within a wide range of niche domains including the law, construction, digital development etc.

Finally, the piece of research claims that while the blockchain continues its path of normalization, the cryptic sector as a whole will undergo massive restructuring (which could once again give the 50 best plateaus of today a much needed economic boost).

Final take

Although the above article claims to be impartial and written solely using objective data, the fact that the crypto industry is receiving more attention than ever, shows that MIT citizens are misinformed. To deepen my case, we can take the example of the recent approval that the cryptocurrencies (CBDC) financed by central banks have received from Christine Lagarde (the head of the International Monetary Fund).

That said, there are still some shortcomings with blockchain that need to be addressed. However, in general, technology seems to have taken on a life of its own – with many organizations (both large and small) using technology to optimize / improve their day-to-day operations.