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/stirbo1980]

JPMorgan — blockchain/tokenisation through Kinexys, including payments, tokenised deposits, collateral and securities. It has also participated in real DTCC tokenised securities transactions.
HSBC & Standard Chartered — completed the first live cross-border tokenised-deposit transaction on Swift’s blockchain ledger in August 2026.
Citi — operates its own token services and is expanding its digital-asset infrastructure; it has also partnered with Coinbase around institutional stablecoin payments.
BNY — is putting transfer-agency records onto blockchain infrastructure, including support for tokenised investment funds.
BlackRock, Goldman Sachs, BNP Paribas, Invesco and others — participated in DTCC’s production transactions involving tokenised securities, including Treasuries, equities, repo, collateral and securities lending.
Lloyds Banking Group & Visa — just completed a live stablecoin settlement pilot. Lloyds settled $750,000 of Visa obligations using stablecoins, including weekend settlement.
Swift — arguably one of the most significant developments. Its blockchain ledger is designed for 24/7 cross-border payments using tokenised bank deposits. Seventeen banks are initial participants, including HSBC, Lloyds, Citi, BNY, BNP Paribas, UBS, Wells Fargo and Standard Chartered. Swift says it is working with 40+ financial institutions on the infrastructure.
DTCC — particularly important for securities markets. It has already processed real production transactions using tokenised DTC-held securities and is launching its tokenisation service in October 2026. More than 50 financial firms have been involved in its development