According to the Chinese government, the average life expectancy blockchain project is 1.22 years.
Speaking at the ongoing China International exhibition China Big Data Industry 2018 Expo in Guizhou, Hee, Baohong of the Chinese Academy of information and communications technology (CAICT) announced that only 8% of the blockchain projects that have ever been started, currently working.
This information was published in the framework of the CAICT research on industry trends.
CAICT research Institute directly controlled by the Chinese government, namely the Ministry of industry and information technology (MIIT).
According to local news publication the China Money Network (CMN), in CAICT believe that there are two long-term trends: “the increasing integration of data and assets,” as well as “accelerating the growth of digital assets”.
According to Hee, it is a favorable trend for blockchain projects, however, even though many of them cease to exist.
These projects appear very quickly, but also disappear quickly.
Governments worldwide are making efforts to create common standards to help blockchain projects to achieve real results.
Beijing continues to undertake active operations on the cryptocurrency market, earlier this month he released his first official rating, which included 26 cryptocurrency. The number of projects in the ranking will increase, there will not only cryptocurrency and other blockchain projects.
Maybe that’s why Hee is optimistic about the future of this industry in China.
In China we have created a verified blockchain programs, and nearly 200 private companies have expressed interest in these programs.
This will help the blockchain technology to become more open and transparent.