About the Author: I'm Tim Dierckxsens, CEO of Venly, a blockchain technology provider. Before founding Venly, I spent years as a business consultant, helping executives innovate with digital solutions in industries like music, postal services, supply chain, and banking.‍

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The Blockchain Landscape Today

In 2017, the market was high on ICOs, and in 2021, we were all captivated by NFTs. However, 2023 was a sobering year for those of us building in the space. It seemed like everything went downhill, and blockchain appeared to become obsolete. The entire market was disillusioned with the lack of tangible results, leading many ongoing projects to be abandoned or shelved. Funding for blockchain startups vanished for the better part of a year, and with the arrival of ChatGPT, innovation budgets shifted away from blockchain and into AI.

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What brought this on?

Was this downturn unexpected? Not really. All you have to do is look at the Gartner Hype Cycle for Web3 and Blockchain from 2019 and 2024.

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For those unfamiliar, the Gartner Hype Cycle is a graphical representation that illustrates the maturity and adoption phases of technologies. It shows how new technologies are initially hyped, followed by a period of disillusionment, and eventually reach a plateau of productivity.

The 2024 Gartner Hype Cycle

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If you examine the chart, you'll notice that most blockchain-related technologies are placed after the peak of inflated expectations. We're in a period where we think the technology isn't going to meet our expectations, failing to realize that perhaps our expectations were the problem in the first place.

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The good news is we're finally starting to see the real potential of blockchain, and adoption will not only grow but grow rapidly. The Plateau of Productivity is expected to be reached in 2–5 years for almost every technology on the chart.

Comparing with Gartner's View in 2019

In 2019, there was a strong belief in blockchain as an innovative solution.

However, two major issues stood out:

1. Our expectations of what the technology should do were too high.
2. The time it would take for the technology to mature was 5 to 10 years out.

As humans, we don't have the patience for such long-term developments.

By comparing the two charts side by side, you can see that the time for blockchain adoption is starting now.

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Blockchain is rapidly growing, and adoption will reach maturity within the next two years. It's also important to note that businesses are expected to expand with blockchain.

Why Venly, Why Now

Now that we've established that blockchain is here to stay and will only grow from here on out, let's discuss why you should choose Venly as your partner.

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First of all, I've always said that technology needs to be used for the right reasons, and blockchain is no different. At its core, we're talking about an unsexy technology - we use it to ensure trust, security, and transparency in business transactions.

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At Venly, we've spent the past six years building for the future of blockchain. We've crafted solutions to our own challenges and now deliver them to your doorstep as a SaaS platform.

Top-Notch Security

Our platform handles the complex security issues that come with integrating blockchain. Our APIs make it easy for you to incorporate blockchain into your systems, and our cybersecurity certifications prove that we've taken every precaution to enable you to tap into blockchain securely.

Scalability and Flexibility

Blockchain is still evolving, and so are your business needs. Venly's platform adapts to your requirements, whether you're a startup or an enterprise. You're not locked into a single blockchain network; our solutions scale with you and allow for smooth transitions if you need to integrate with different blockchains down the line.

Speed to Market

Building a blockchain solution in-house can take months, if not longer. With Venly, you can get started faster. Our ready-to-use APIs and developer tools mean you can focus on building your product or service, not worrying about the underlying infrastructure.

Support That Fits Your Needs

Whether you're a hands-on company that likes to build on your own or you need more guidance, we offer multiple support models. From our DIY developer portal to our done-with-you and done-for-you options, we ensure you're supported throughout the process without having to hire a team of blockchain developers internally.

Why Now Is the Time to Act

Blockchain technology is entering a phase of productivity and widespread adoption. By partnering with Venly now, you're positioning your business at the forefront of this next wave of innovation. Don't get left behind as others leverage blockchain to gain a competitive edge.

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Ready to Transform Your Business?

If you're ready to explore how blockchain can create real value for your business - without the hype - now is the perfect time to start. Venly is here to guide you every step of the way.

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Feel free to reach out if you have any questions about Venly, our services or when you need assistance. Let's build the future together.