Blockchain doubts

I like to think I'm reasonably technology literate, but I have to admit, I can't for the life of me get what the IT pundits' excitement about Blockchain technology is all about.  I don't get what is meant to be transformational about it.  (Well, I think that this is what a bunch of people are claiming.)   That linked article is not the only thing I have read about it, but none of it convinces me that it is particularly exciting, or different, to the way things are done now.

I was always skeptical of 3D printing as being anything other than a niche method of manufacturing, and I think the early claims about it as the way of the future already look silly and overblown.   Bitcoin I always thought wildly oversold, too, and a bit of a silly idea that would mainly appeal to criminals and tax evaders.  I see that it was declared a failure early this year, although I am sure others will beg to differ.

I strongly suspect that Blockchain is something similar - an idea that has an odd ability to excite technophiles in a way that is out of proportion to the actual technology.

But, of course, I could be wrong.