What blockchain products, in particular, tend to lack is a complete "economic engine" - there isn't a good or service built in the equation, just a marketing promise that transacting goods and services through the protocol is somehow better, or failing that, some form of investment instrument that is a step removed from goods and services, and consequently less mission-critical for conducting business.
When there is a good or service, you usually find a situation where a centralized monopoly platform - "use our API, use our UI, feed off our database, speak with our sales and CSRs" - is more straightforward to build and more advantageous for the stakeholders who will build and operate such a system. There are only certain niches where there's a definite and ongoing win to build and participate in a decentralized protocol. This rock and hard place has made it hard for the field to break away from purely speculative activity.
While the tech is maturing and growing an impressive set of features, I don't see big breakthroughs coming without a major initiative from a big player.
When there is a good or service, you usually find a situation where a centralized monopoly platform - "use our API, use our UI, feed off our database, speak with our sales and CSRs" - is more straightforward to build and more advantageous for the stakeholders who will build and operate such a system. There are only certain niches where there's a definite and ongoing win to build and participate in a decentralized protocol. This rock and hard place has made it hard for the field to break away from purely speculative activity.
While the tech is maturing and growing an impressive set of features, I don't see big breakthroughs coming without a major initiative from a big player.