Did you know that 92% of blockchain projects in GitHub, and 46% of 2017 ICOs have already failed? GitHub success rate might not be the best indicator for the success of all blockchain projects, as not all projects are shared in GitHub. Also, the reason why an ICO failed could be that it simply didn’t succeed in raising the funds, and the project never took off the ground (not even mentioning scam ICOs…). Regardless, the failure rates seem very high, enormous amount of work not bringing the desired results. This made me ask myself the questions like “What did the blockchain projects that succeeded, do differently?”, and “Are there common lessons learned and secrets to success that could benefit all blockchain projects?”
These questions in mind, I was off for a quest. I sent out a survey to companies that had ongoing blockchain projects, or were building blockchain products, and asked about their secrets to success. The survey got an enthusiastic reception. Several people even contacted me and wanted to share their opinion in person. It sounded like people really wanted to share, contribute, as well as learn how to make blockchain projects more successful.
The results that came in outlined a few clear trends for successful blockchain projects. I’ll be sharing these results for the first time at Project Management Symposium 2018 at UT Dallas in May. Join the event to hear the results first hand, or stay tuned for the results to be published on this blog after the symposium.
If your company is getting started with a blockchain project, it is important to get the project started out right to avoid common mistakes and wasted effort, and to set realistic expectations from the beginning. Schedule us for a one day Successful Blockchain Project Management workshop at your company!