Major financial consulting company McKinsey & Company believes that there is little evidence of practical use for blockchain, according to an official post published on Jan. 4.
McKinsey was founded in 1926 and has a reported revenue for 2018 over over $10 billion, with over 27,000 employees globally.
The article, written by three McKinsey partners, notes that the “evidence for a practical scalable use for blockchain is thin on the ground,” explaining:
“Blockchain has yet to become the game-changer some expected […] given the amount of money and time spent, […] little of substance has been achieved.”
Furthermore, the post notes that “the stuttering blockchain development path is not entirely surprising [since] it is an infant technology that is relatively unstable, expensive, and complex.”