fanciful; impractical: blue-sky ideas.
(especially of securities) having dubious value; not financially sound: a blue-sky stock.

1890–95 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
blue-sky or blue-skies
1.  (modifier) of or denoting theoretical research without regard to any future application of its result: a blue-sky project
vb , -skies, -skying, -skied
2.  to theorize (about something that may not lead to any practical application)
blue-skies or blue-skies

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
It's one thought that never went beyond a blue-sky conversation among his venture capital colleagues.
Whether other investors will be prepared to take similar gambles on blue-sky technologies remains to be seen.
But, and here is the limit to such blue-sky optimism, this does not mean that it will be: solvable problems are not always solved.
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