Intense Competition — Not Technology — Will Fuel Blockchain’s Rise to Dominance

So why aren’t companies and people moving their transactions on-chain, then? They are, but slowly. An entire ecosystem of financial services is emerging on-chain, filing companies like Franklin that can handle payroll in both on-chain and off-chain environments, and at lower costs than ancestral providers. The effects of inertia are even larger in the business space than with consumers, and blockchains still dearth key features like robust levels of regulatory compliance, mature fraud prevention analytics, and importantly, privacy.