What is holding back institutional acceptance of blockchain technology?
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Honestly speaking nothing is holding back institutions adoption of blockchain technology... many tech giants and behemoths already getting in such as IBM and Microsoft and Oracle and many more to follow. It is just a matter of time really. Even governments realize the massive potential of the tech involved in blockchain and want to leverage it in many ways for their own benefits. No one wants to be left behind so you will see mainstream adoption in a gradual way across various industries ...
My view on the acceptance of blockchain technology is a bit different. In my view and research, institutional acceptance of blockchain is here. One can look at the Enterprise Ethereum Alliance as an example, another example would be the R3 Consortium and the upcoming wireless consortium Softbank is attempting to create. Outside of payment processing, P2P exchanges and cryptocurrencies (and their corresponding wallets), there are no actual working blockchain products/services - mainly due to the fact that (from my research) no platform (private or public) can handle the amount of transactions requried to maintain the network - this will change, and soon. Visa/Mastercard, Microsoft, IBM, Intel, BP, Tesla, a growing number of countries and a large number of other corporations small and large are working on development of these - they are just not as well known to the crypto world as there are no cryptocurrencies that related to them. IMHO, we tie blockchain acceptance to the acceptance of cryptocurrency. When in reality, these two can be separated.
Technologically nothing. Blockchain as a concept was described in an IBM paper back in the '90s.
Establishment and politics hold it back more than anything else. The banks are used to do things their centralized way and have made a fortune doing so. The governments are used to controlling money flows too. blockchain distlrupts both of those dogmas.