Google search data has revealed that there is currently more interest in blockchain technology than there is in cryptocurrency.
On the face of it, this makes sense, as cryptocurrency is a product of blockchain and not the other way around, but there has been considerable hype around digital currencies since last year. Perhaps, however, the underlying technology has more legs in terms of interest among the average consumer.
The first time this happened, reports TheNextWeb, was in July and it has been consistently more popular since at least September. These numbers, however, are based only on the relative popularity of terms, and not the real number of searches.
As we approach the end of 2018, many will be taking stock in what has happened since Bitcoin and crypto reached mainstream ears in December 2017.
Perhaps, as crypto continues to be volatile and ‘risky’ in the eyes of those outside of the immediate community, blockchain will gather more interest from those interested in technology but ambivalent about the financial world.
In June, just before the popularity of blockchain overtook crypto, it was revealed that Google searches for Bitcoin dropped a massive 75 percent overall, 50 percent of which happened within three months.
Nicholas Colas, the co-founder of DataTrek Research, said at the time: “We use Google Trends to track search queries for Bitcoin as a proxy for potential new buyers. Bitcoin needs a new narrative in order to reestablish global attention.
“This dog will have its day, but today isn’t it. While we love the idea of Bitcoin (and own a little ourselves), we are not fans of buying it at current levels.”