Blockchain: The Revolution Has Been Over-Hyped

Anthony Malakian talks to several capital markets executives to determine whether irrational exuberance has overtaken common sense.

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[This is Part Three of a three-part special report examining distributed-ledger technologies and the capital markets. Part One, which went live on Tuesday, looks at how banks are adopting digital currencies. Part Two, which was published on Wednesday, examines the money funding these projects.]

When you listen to the evangelists, it’s easy to believe that blockchain—which has become a catch-all term for distributed-ledger technologies (DLTs), in addition to being an individual subset of the

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