It is possible that this project will be able to achieve its goal of raising funds, although on the website I did not see how the fundraising was going.
But I feel the ico came at a wrong time where everyone is watching the market to see what happens next. Only a few are paying attention to ico projects and what they are going to solve. If the market becomes stable a lot of investors will surely invest in minedblock.
Of course, the bad market environment is a big problem. But what could be a problem here too, there are already too many mining projects and many have just completed the ICO. There are of course some new prospects, but why should older investors invest in so many different mining projects?