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Does the author mean "blockchain will not be as bad as it was"?
The blockchain genie isn’t going back in the bottle. Whether it’s one of these companies or the next wave that follows them, the efficiency and effectiveness of the solutions make it a foregone conclusion.
Throw in the additional benefits to the brand (i.e. potential to ensure your ads aren’t shown next to controversial content), and you have the makings of a pretty compelling value proposition.
In your context it refers to something being reversible.
The usage you cite is a reference to the common idiom that "you cannot put the genie back in the bottle". By this reference, the author mans that blockchain is here to stay.
Like the opening of Pandora's box, letting a genie out of his bottle is a common metaphor for some event being both significant and irreversible. In this case, the advent of blockchaining technology. Ref e.g. genie back in the bottle
