Don't overlook that the Bitcoin story is really about advancing its underlying digital ledger, known as blockchain. With blockchain, transactions can be validated and stored forever in a transparent and immutable way.
While there are plenty of applications for blockchain on paper, we haven't seen these ideas translate into real-world functionality. Businesses have been unwilling to replace their proven network infrastructure with untested blockchain technology, creating something of a Catch-22. CoinDesk reported that tech stalwart IBM (NYSE:IBM) practically dismantled its blockchain division, according to four people familiar with the matter.
In short, enterprise blockchain has been a gigantic flop thus far.