Blockchain businesses are gaining ground around the world for a reason. Ok? The technology such entities make use of to perform a specific task or function is highly reliable. In fact, Blockchain has popped up as the most transparent, safe, and immutable technology to date which can be utilized easily, not just for financial transactions but various other tasks too. But how will you know which activities and processes the Blockchain technology will turn out to be useful for? Well, to get the correct answer to this query you need to read this whole prose carefully. However, if you like any business idea from the ones mentioned below and want to build a money-making agency around it, you must hire the best blockchain development company without a second thought. Now, let’s browse through:
What Are Some Blockchain Business Ideas You Can Take Inspiration From?
- Sell targeted, single source advertising
Not every company has abundant financial resources due to which they can’t make use of a wide advertising net. As a result, they need to concentrate on a bite-sized market. And do you know what is the main advantage of single source advertising? Well, it removes the requirement for annoying banner ads while keeping a particular group of viewers in mind.
What else? Some advertising agencies make the most of AI to find pages where target viewers are highly likely to spend their precious time. For instance:
- The comment section of any news
- The trending stories section of any news
Once the concerned space is identified, an advertising establishment secures that ad space on their preferred pages with the help of Blockchain. Owing to this, the advertising cost of clients reduces to a great extent and the chances of conversions boosts big time. (Example: Squawk-It)
So, if you liked this business idea and want to start an entity similar to this, it is the best decision to get the much-needed assistance from an optimal blockchain development company.
- Safeguard valuables with a digital identity
Digital identities are well-arranged codes assigned to different goods or inventories to ensure they stick to their respective owner. And that is something where Blockchain plays a key role. Wondering how? Well, Blockchain identity businesses develop and assign digital identities to myriads of products. This allows fellows to give a unique ID to any of their possessions to prove they are the owner of the specified item till the time they have access to the:
- Serial number
- VIN
- Any other identification metric
(Example: VTT) Hence, if you also want to dive into a digital identity business right now, it makes sense to reach out to a popular blockchain development company now.
- Rent cloud storage peer to peer
Since Blockchain storage decreases the load on individual servers by spreading information all over the world, such servers are capable of hosting several pieces of information without a hitch. And there are some Blockchain storage rental agencies out there that connect users with a peer-to-peer network, allowing them to rent a specific amount of storage space on the cloud. Please keep in mind that P2P storage connects users who either want to rent their storage space or only need a tiny amount of storage space to utilize. By doing this, the renters are allowed to set their own charges while the main business takes care of the interaction. (Example: Storj)
And if you are the one who is impressed by the Blockchain business idea we shared above, you can build such a business straight away by consulting with the topmost blockchain development company on the web.
- Outsource IT tasks
If you look at the conventional IT outsourcing processes, they entail abundant:
- Setup
- Preparation
- Relationship management
All this is done to make sure that the client’s expectations are properly met. However, there are a few companies who maintain a detailed record of work history by tapping collaborators via a verified blockchain network. Now you might think that this arrangement is similar to other IT outsourcing establishments but the one we are talking about allows entities to examine the potential IT centers they want to outsource their work to. This extra insight plays a crucial role in warding off misaligned objectives and ensuring both parties fit each other’s bill. (Example: TP&P)
Thus, if you are comfortable with this business idea to a big extent, it is advised to employ the finest blockchain development company to turn your business concept into reality.
- Suggest cryptocurrency investments
There are countless methods to mint money by trading crypto. And all crypto trades are processed with the help of Blockchain which means there will always be a permanent record of transactions to refer to. And you will be surprised to know that cryptocurrency trading consultancies offer several suggestions to interested investors based on this information. (Example: Safetrading)
Hence, if you also want to become the owner of a cryptocurrency trading business model, it is a sensible decision to have an audience with the service reps of a top-notch blockchain development company.
BONUS:
- Host a cryptocurrency exchange platform
It is true that exchange networks for cryptocurrencies allow clients to trade internally as and when required. And do you know what is the best part? The extremely transparent nature of Blockchain ensures that the exact value of the currency remains available in real-time for interested traders. Thus, this platform is suitable to combine with an investment consultancy to work as a one-stop-store for eager investors. (Example: Bisq)
Therefore, if you want to build any such business around Blockchain, kindly rest easy knowing a highly-acclaimed blockchain development company is ready to help.
- Help patients view and manage their medical records
- Authenticate medication validity
The takeaway
So, if you liked the content you just sailed through and want to work on a Blockchain-based business idea from scratch, make sure to hire a mobile app development company who has expertise in creating promising Blockchain apps.