Blockchain is not a solution for neither data storage or data analysis.

Why?

About storage:

Blockchain is a pretty inneficient way of storing data, since it **MUST** be replicated across all nodes in the network. The bandwidth costs of such solution is prohibitive for most companies.

There are several kinds of more centralized solutions that can guarantee high levels of security and resilience and cost much less than a blockchain implementation. E.g.: encrypted storage on multiple cloud providers at the same time would suffice most applications.

About data processing:

The problem is that if you are using a Blockchain, by definition, all nodes in the network have to process the same data. There’s no division of work.

Take Bitcoin as an example: at a given moment, **ALL** miners are working on the same block N (technically, this is not 100% true, but it is true 99% of the time).

This is “waste” of power processing is what gives security to the network. It’s a requirement for money transfer, but it’s not a requirement for most data processing applications.

Imagine that we’d use blockchain on the internet: whenever I opened this story to read it, all computers on the internet would have to do the same. This is insane!

Also, it’s quite hard to query the blockchain directly. You have to build several kinds of indexes for the data, otherwise you’ll get increasing query times as the blockchain grows due to block traversing.

And the only way you can be 100% sure that you are handling genuine data from the real blockchain is to build such indexes yourself, which would lead companies to the very problem they begun with.

There has been some notable effort to solve those kind of problems inspired on the blockchain technology, but they **ARE NOT BLOCKCHAIN**.

So, please, stop spreading the buzzword. Blockchain is not the Holly Grail of the 21st century. As any other technology, it has its advantages and disadvantages and its application scope is quite limited.