Blockchain Projects Failure Rate Stands at 92%

So far, there has been over 80, 000 blockchain projects that have been launched with an 8 percent survival rate.

BitcoinKE sat down with Mike Merdinian, a blockchain consultant and founder / CEO of RokaBoat, a company that offers blockchain training, assessment, roadmap, and execution strategies for companies looking to adopt blockchain.

“One of the big challenges that is happening is that people are using blockchain like ketchup and skipping the steps that need to happen in a real transformation.” Said Mike.

In our discussion, Mike offered some great insights into what makes or breaks blockchain projects, with the biggest challenge being a lack of understanding of what blockchain can and cannot do.

Quoting the research paper done by the China Academy of ICT, Mike revealed:

“So far, there has been a launch of over 80, 000 blockchain projects with only 8 percent surviving and the ones surviving have a lifespan of 1.2 to 2 years.”

Mike Merdinian was in Nairobi, Kenya, to attend ‘The 4th Industrial Revolution Favors Africa’ conference organized by Swift Robotics to discuss and evaluate strategies on how Africa can position itself in adopting emerging and disruptive technologies like blockchain, AI, IoT, and robotics.