The simplest reason we believe is that:-
It is fashionable.
99% people do not even understand the iota of what Blockchain is in reality. People are lucky that they are living in times of corporations funding and ICO’s, as people know that it is easy to get funding with term Blockchain and get published in the news even if their Business is far away from reality forget Profit.
Recently, Facebook and Google have attempted to address this by disallowing all ICOs from advertising on their platform, regardless of their purported legitimacy. As there are governing bodies overseeing ICOs, crypto-currencies or the blockchain as of yet, they’re banning ad purchases for the time.
In another instances where there are no frauds there are companies like Long Island Iced Tea who changed it’s name to Long Blockchain Corp and it’s share price tripled in value.
We believe Blockchain is more complex and smart than it’s intended use. Blockchain with it’s intention reduces the middle man in between and create a trust platform between 2 different parties. The Blockchain should be decentralised and should have fixed rules.
Most of the talked feature of Blockchain is the immutability of the database and creation of contractual codes. Both of these can be achieved by other thoughtful development and using other database structures.