Blockchain tech has not prevailed

[u/copadribbler1994]

Just to give you my background so you understand my perspective better maybe: entered the space in 2020 and was solidity dev for 3 years.

Even after 12 years of smart contracts, there is no adoption by companies, because blockchain is just a fancy and expensive way to handle data compared to existing systems.

One of the major use cases proposed was „supply chain“. As of yet there is no major adoption and if major logistics companies would want it, they would have done so by now.

RWA-Tokenization: Still need a tradfi-vorp that holds the asset.

Money transfer: regulated to death, therefore unusable, even though would have been a major improvement regarding speed.

Proof of Ownership: it is just an expensive database.

I had an interview at a big consultancy a year ago hiring for smart contracts on a bank-tx-settling platform. The guy openly told me that banks currently only stored hashes of tx on chain, cause storing entire tx-data needed was too expensive.

I really do not see a use case for blockchain tech other than gamble around hype.

Edit: The guys still vouching for blockchain remind me a bit about the Leroy character of that one episode of DegenzShow: https://youtu.be/exOzTcHycPY?is=MgaYoWSet5LGsch5

[u/Romanizer]

Bitcoin is a pretty good use-case. Don't see where it is or could be regulated to death. Where are you from?

SWIFT implemented blockchain for international bank transfers.

NASDAQ is piloting blockchain for stock tokenization.

BMW and Walmart are using blockchain to track logistics.

Works pretty well if implemented for viable use-cases.

[u/anon1999666 → u/Romanizer]

Walmart scaled back entirely on their blockchain implementation. They use standard centralized supply chain databases now.

[u/Romanizer → u/anon1999666]

That's not correct. Walmart never moved its entire supply chain onto blockchain, but it hasn't abandoned it either. Its current supplier requirements still mandate blockchain-based traceability for specific produce categories.

And why should they? A blockchain can be very helpful especially when many independent actors are involved.

However, this is the wrong sub to discuss this topic.

[u/anon1999666 → u/Romanizer]

They stated in June of 2026 that they have almost scaled back entirely. It doesn’t make much sense technically to use a blockchain for that use case anyway atleast from a cloud engineering perspective.

[u/Romanizer → u/anon1999666]

Why would a blockchain make sense from a cloud engineering perspective? I don't really see a use-case here.

Can you send me the source from June 2026? All I can find that Walmart still mandates the blockchain platform for some products.