Study: Blockchain is 2017’s hottest technology, but a vast majority of projects fail

Newswire: Nov. 9, 2017.

Dateline: New York.

Blockchain’s enormous growth and potential spawned some 26,000 open-source projects in 2016, but 92 percent of them fizzled out within six months, according to an analysis by Deloitte.

The auditing firm looked at projects created in 2016 on GitHub, an open-source collaboration platform, and found only 8 percent of them were still being maintained.

Blockchain has made headlines as a technology on the rise over the past two years, particularly as governments around the world have recognized it and the electronic signatures it supports as valid under their contract laws. It is of particular importance to the financial technology sector.

“The stark reality of open-source projects is that most are abandoned or do not achieve meaningful scale,” Deloitte researchers said. “Unfortunately, blockchain is not immune to this reality.”

Read the full story here.