Research: Most of the Chinese companies supported by blockchain that ceased activity last year have major flaws

Research by market research firm EqualOcean shows that most of the Chinese companies that were suspended from blockchain support last year have major deficiencies. The report found that more than 70 blockchain projects were closed last year. According to reports, more than 70% of the projects did not survive in the first year, while 30% of the projects did not last 6 months. According to reports, last year China's blockchain field got rid of scams and turned to the practical application of distributed ledger technology. Researchers said that during 2019, Chinese state institutions and state-owned enterprises have improved their understanding of blockchain.