The new USAID study shows that 43 blockchain solutions were unsuccessful

A new study shows that 43 implemented blockchain solutions had a success rate of zero

According to a new study conducted by the US Agency for International Development (USAID), 43 blockchain solutions implemented in the field of international development have had a success rate of zero percent.

The study examined these 43 different implementations of blockchain technology in the field. Several DLP (distributed ledger technologies) projects have been used and implemented by NGOs and other government agencies.

However, the study shows that there is no evidence or documentation of the results of the blockchain test made by these companies and agencies. The team behind the research documented projects that promised to improve security or improve operational costs. None of these promises could be documented in real-world applications.

By the way, the study says:

"We found a proliferation of press releases, white papers and articles written in a persuasive manner, but we did not find any documentation or proof of the results that the blockchain would have stated in these statements, and we did not find lessons learned or practical insights, such as they are available for other technologies under development ".

This is clearly not a positive sign for the space that is experiencing a bear market from the beginning of the current year.

At the same time, the team informed that they had contacted several blockchain suppliers to find out the results of the blockchain implementations. However, none of them responded to requests to share data on these programs.

The report states that despite all the clamor about blockchain technology and the promises made by companies in space, the industry remains "opaque". Sellers want to implement different blockchain solutionsbut many customers do not know the questions they need to ask about their suitability.

This report also shows that sellers tend to outperform the benefits of DLT and how this technology can improve different processes. However, blockchain is a simple database that presents several scalability problems that many projects are not yet able to solve.

There are several companies that are starting to work with this technology, showing that there is real interest from companies to test this technology.