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Blockchain is a distributed ledger technology through which records are maintained in a peer-to-peer network. Advocates for the technology stress the role it can play in multi-party environments, where its security, immutability, shared transparency and collective governance features can create a higher degree of trust. Historically, organizations have struggled to identify optimal use cases for the technology and have faced various adoption hurdles. These challenges have been compounded by the ongoing depression in the value of tokenized assets, which has led to organizations rolling back their ambitions of selling assets into public blockchain ecosystems — an adjustment that is reflected in our Data & Analytics, Blockchain 2023 survey results.