Interest in the blockchain technology is overrated. Most companies do not plan to implement any blockchain solutions and are not interested in this technology, says the survey.

The vast majority of companies do not intend to use blockchain in their business operations, show the results of a survey conducted by the analytical company Gartner.

77% of the IT directors who participated in the study said that their companies are not interested in blockchain technology. 43% said they no action planned to conduct any work or research in this area, although the tech was "on the radar".

Only 1% of respondents reported that their businesses use blockchain in their business processes. 8% of IT directors voiced plans to test or implement blockchain solutions into the company's operational work.

293 respondents took part in the survey.

The results of the research demonstrate that blockchain remains in "massively hyped state", David Furlonger, a Gartner veep, noted. He added that too frequent conversations about blockchain implementations, which are conducted by overly emotional blockchain enthusiasts, further push the business away from this technology.

"Qualified engineers may be cautious due to the historically libertarian and maverick nature of the blockchain developer community," Furlonger said.

He noted that the implementation of blockchain into business processes requires extensive knowledge in many areas such as security, law, decentralized management, and organizations that decide to use blockchain systems will have to completely change their historically established structure, because the tech demands them to shift from "traditional lines of business and enterprise silos".