About 90% of The US Blockchain Technology Initiatives Do Not Go Live Ultimately, According To Forrester Research

Around 90 percent of the blockchain initiatives of currently active US companies are ultimately abandoned.

This statistic comes from a study by Forrester Research, quoted by Bloomberg in an article dated July 31st. The US market research company Forrester Research assumes that most blockchain projects initiated by American companies will be suspended in 2018. Forrester Research concludes that in 90 percent of cases, “the project will never become part of the company.”

The researcher also claims that “some companies” that are seeking to incorporate widely advertised Distributed Ledger Technology (DLT) into their companies are now withdrawing and downgrading their ambitions.

The latest study marks at least the second instance in which Forrester Research has announced a lousy future for blockchain applications in America.

90 percent of the US blockchain technology initiatives do not go live, according to Forrester Research, as companies are still testing the water

Back in 2017, the company published an article entitled “Predictions 2018: The Blockchain revolution will have to wait a little longer” and claimed that 2018 would be “the year of reckoning for blockchain technology initiatives.”

“Those who have failed to turn headlines into reality will write off and give up their investments, while others who have a deep understanding of the technology and its transformation potential, in the long run, will continue to move forward,” according to Forrester Research.

According to Bloomberg, Ron Resnick, the first Executive Director of the Enterprise Ethereum Alliance (EEA), argued that blockchain technology development in 2019 could still experience an upward trend as “companies are still testing the water.”

Previously, Brian Behlendorf, CEO of Hyperledger, claimed that the “upcoming wave” of blockchain applications would not come from established technology giants like Google, Amazon or Facebook, as these companies are “blind in one eye when it comes to blockchain technology.”

At the beginning of July, Mike Novogratz, former Wall Street analyst, predicted that the mass acceptance of cryptocurrencies and blockchain technology would be “five to six years away.”

You might like

About the Author: Anna Galvez

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.