The first leaderless company raised $150m, then promptly imploded; a popular blockchain network suddenly and spasmodically split in two; and a major exchange got hacked, spread the losses among investors and somehow managed (thus far) to avoid any lawsuits or regulatory action. Events were somehow just as confounding in the private blockchain space. There, major players seemed locked in an increasingly mundane arms race to enlist companies in granular R&D projects, none of which were too small to stem the barrage of press releases. All this occurred even while the professionals working closest with private versions of the technology swore it off as a failed experiment, the startups that were the biggest champions of DLT experienced pervasive staff cuts and banks saw their senior members start what will likely continue to be a revolving door between the sectors.

http://www.coindesk.com/making-sense-blockchains-summer-stupid-perfect-illusions/