Average life for a blockchain project is 15 months – Chinese report states

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There seems to be an ever growing number of new coins that pop up every single day. But the real question is how many of them actually survive and become a real product for the world.

Such research report has been made by Chinese government. A analysis had found that the average lifespan of a blockchain project is 1.22 years.

He Baohong from the China Academy of Information and Communication Technology had said that only 8% of all of the blockchain projects ever launched are still alive. The China Academy is a scientific research institute controlled by the Chinese government by the Ministry of Industry and Information Technology.

“These projects come out very quickly, but die quickly as well. In this circumstance, governments globally are accelerating their efforts to establish unified standards in order to help blockchain projects to achieve real-life applications. We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join. This will help blockchain technology and industry to become more transparent and open.” Baohong added. His comment was made at the China International Big Data Industry Expo 2018 that is currently being held in Guizhou city in southwest China, giving a call on all governments to set up a unified standards for blockchain implementation.

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The government in Beijing had remained actively involved in the insight of all of the blockchain and cryptocurrency projects, and it has produced its first official ratings for their top 26 crypto assets.

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