Blockchain has revolutionised the world. With its decentralized, peer-to-peer and immutable properties, it is gaining popularity around the globe and large enterprises like Walmart, IBM, Facebook, and HP have already adopted the technology and doing the development extensively.
Here are the top 15 Blockchain Business ideas you can start in no time and become a part of the revolution.
Blockchain Business Ideas #1 – NFT Marketplace
Millions of people are drawn to the crypto world because of the intrinsic monetary worth of the cryptocurrencies, tokens, NFTs, and other digital assets that circulate. Millions of cryptocurrency enthusiasts, traders, and investors want to profit from the industry, and they use centralized exchanges (CEXs), decentralized exchanges (DEXs), and non-centralized exchanges (NFTs) to buy, sell, and exchange assets.
Check out the most trending NFT that you can buy and sell in profits
Whatever type of DAM you intend to build, keep in mind the cross-blockchain trend that will guide 2022. People want frictionless experiences with no large commissions for cross-chain transfers. For example, the two most prominent NFT markets, OpenSea and Rarible, only support three blockchains. As a result, you may launch into the world of NFT with a bang by providing a more universal cross-blockchain marketplace.
Blockchain Business Ideas #2 – Creating Wallet
Needless to mention that cryptocurrency is an integral part of the blockchain. Because Crypto is a different asset class, it cannot simply appear in a user’s bank account.
It also cannot be paid out at a local ATM. Blockchain-based digital assets necessitate a specific storage location, allowing you to join the market with a viable and secure digital wallet solution.
Many online and offline wallets are already available, including Metamask, TrustWallet, Coinbase Wallet, Exodus, Ledger Nano X, and Mycelium. Nonetheless, new wallets are created on a daily basis, giving new advantages and unique features in order to gain a devoted user base.
Metamask is the most preferred wallet. MetaMask is a cryptocurrency wallet that uses software to communicate with the Ethereum network. However, more blockchain networks can be added.
Blockchain Business Ideas #3 – Crypto Exchange Platform
The Crypto exchange market is now in a state of flux. There are several exchanges, and each one provides a unique set of benefits. This might be confusing for users since they must determine which exchange is best for them.
Furthermore, we may anticipate additional consolidation in the crypto exchange business in the next years. This means that a few large exchanges will develop, and these exchanges will provide a wide range of functions.
As a result, now is the greatest moment to contact a bitcoin exchange development firm in India to get your Cryptocurrency Exchange business idea off to a good start.
Few of the Crypto exchange platform are-
- Coinbase – Best for Beginners.
- Binance.US – Best for Low Fees.
- Crypto.com – Best for Security.
- BlockFi – Best for Earning Interest.
- Bisq – Best Decentralized Exchange.
Blockchain Business Ideas #4 – Crypto Payment Solution for eCommerce
The worldwide eCommerce business is expanding at a rapid pace, with the 2021 market size of $4.9 trillion predicted to grow to $7.4 trillion by 2025. Crypto aficionados would be foolish to ignore such a wealthy sector. So, by allowing millions of active buyers to pay for their items with crypto assets, you may make a fortune.
A straight transfer to the seller’s crypto wallet has been the cautious technique used by many merchants. However, for many, this may be excessively unsafe or time-consuming. As a result, it’s time to automate and simplify eCommerce crypto payments using third-party payment processors. Today, there aren’t many alternatives; the most popular are BitPay, Coinbase Commerce, and CoinPayments.net.
Blockchain Business Ideas #5 – Decentralized Cloud Storage Businesses
A few significant players currently dominate the cloud storage market. These firms have a monopoly on the market and charge exorbitant fees for their services.
Moreover, in the years to come, we can expect to see more decentralized cloud storage businesses emerge. These businesses will use blockchain technology to create a decentralized storage network. This network will store data securely and at a low cost.
Some of the possible applications and benefits of decentralized cloud storage include:
- Data storage that is both safe and affordable
- Allowing companies to store data on the blockchain
- Allowing companies to store data in numerous places
- Allowing companies to exchange data with other companies
Blockchain Business Ideas #6 – Crowd Funding Platforms
Blockchain has the potential to revolutionize the crowdfunding industry. This is because they enable firms to raise funds in a more efficient and secure manner.
As a business owner, you have several alternatives for crowdfunding. You can do an initial coin offering (ICO), a security token offering (STO), an initial exchange offering (IEO), or an initial data offering (IDO).
Furthermore, each blockchain crowdfunding solution comes with a unique set of advantages and disadvantages. As a result, it’s vital to conduct your research and figure out which choice is ideal for you.
According to Statista, global crowdfunding transactions are estimated to reach 12.27 billion US dollars by 2027. Because cryptocurrencies are becoming more broadly acknowledged, businesses are increasingly adopting them to generate revenue.
Some of the potential applications and advantages of cryptocurrency crowdfunding include:
- Increasing capital in a more efficient and safe manner
- Giving businesses the ability to generate funding in a number of ways
- Allowing businesses to raise funding from a worldwide audience
- Allowing businesses to keep more of the revenues raised
Blockchain Business Ideas #7 – Fake product Tracking Solution
The best feature of blockchain is its immutability, which means that new data uploaded to the system cannot be modified, falsified, or withdrawn. Furthermore, all new blocks are added in exact chronological order, eliminating the option of changing the sequence. This method has found use in the phoney goods identification sector. Each item was assigned a unique blockchain record, and its whereabouts was traced along the supply chain. When a buyer decides to buy the goods, they may use the QR code to track it back to its original location, ensuring its legitimacy.
Blockchain Business Ideas #8 – Creating a Loan Landing Platform
Because of the advancement of blockchain technology, it is now feasible to establish a decentralised peer-to-peer lending network. Borrowers and lenders would be able to communicate directly with each other without the requirement for a third party.
This technique might be used by a crypto lending business to develop a more efficient and secure method to borrow and lend money. Borrowers would be able to obtain loans without going via a bank, while lenders would be able to collect the interest without fear of fraud or default.
As a result, we may expect to see more crypto lending businesses arise in the next years. Blockchain technology will be used to develop a decentralised lending network for these services.
Some of the potential applications and benefits of crypto loan services are as follows:
- Providing low-interest loans to companies and individuals
- Loans are available in a range of currencies, including cryptocurrency.
- Allowing businesses to obtain loans in a few of minutes
- Allowing businesses to borrow funds from a worldwide audience
Blockchain Business Ideas #9 – Gaming Platform
Because of the expansion of the internet and cryptocurrency, a new business concept has emerged: crypto gaming platforms. These sites, which allow users to wager with cryptocurrencies, are becoming increasingly popular.
Crypto gaming platforms are comparable to typical online casinos, except instead of traditional currency, they employ cryptocurrencies. This allows players to wager without having to worry about currency conversion or banking costs.
Furthermore, crypto gaming platforms are safe and trustworthy, and they provide a diverse range of games. Consider utilising a crypto gaming platform if you’re seeking for a fresh and interesting way to wager.
Some of the potential applications and benefits of crypto gaming platforms are as follows:
- enabling players to wager with cryptocurrency
- Providing a wide range of games
- Providing a safe and dependable platform
Blockchain Business Ideas #10 – Creating DAPP ( De-centralize Applications)
Dapp stands for decentralised application. Dapp development is a trendy new business concept that is rapidly gaining traction. Dapps are programmes that operate on a decentralised network and provide a wide range of functionalities.
There are now just a handful dapps that are useful. This is expected to alter in the future years. As more individuals start using dapps, their quality will increase.
Dapp development is an excellent method to get started in the bitcoin market. It is a difficult field, but it has a lot of room for advancement. According to a Blockchain Examiner report, experts expect that the market for dApps would reach USD 21,070.2 million by 2025.
Few of the DAPP examples-
- Creating an Autonomous Decentralized Organization (DAO)
- Putting together a digital asset management system
- Establishing a social media platform
Blockchain Business Ideas #11 – Cryptocurrency Mining
The popularity of mining in cryptocurrency business models began in the first days of bitcoin. Mining is a low-cost method of generating passive revenue that needs little initial commitment.
To get started, all you need is a computer with a strong graphics card, and you may start mining right immediately. However, bear in mind that mining is becoming increasingly competitive, so you’ll need to invest in some serious hardware if you want to stay ahead of the game.
Some of the potential applications and advantages of bitcoin mining include:
- Mining cryptocurrency as a service (MaaS)
- Renting a cryptocurrency mining rig
- Cloud mining for cryptocurrencies
Blockchain Business Ideas #12 – Metaverse
Metaverses are still a hot trend in 2022. We don’t mean you should spend time and money constructing one; it’s a massive, multi-billion-dollar project that not even the biggest IT companies, let alone blockchain SMEs, can handle. However, you may enter the metaverse market by offering comparable goods and services.
Virtual events, learning and shopping services for metaverse users, social media coverage, ambassadorship, NFT sales, gaming, and advertising are among the most popular business concepts. You may even rent out your virtual real estate or start a virtual tourism agency in these emerging virtual economies (expected to boom, by the way). A compelling use case is the provision of meta rooms, such as Meta’s Horizon Workrooms, which may serve as useful virtual locations for team collaboration.
Blockchain Business Ideas #13 – Defi Platforms
Decentralized finance, or Defi, manages financial transactions using cryptocurrencies and blockchain technology. DeFi intends to democratise finance by replacing old, centralised institutions with peer-to-peer connections capable of providing a broad range of financial services, including ordinary banking, loans, and mortgages, as well as complex contractual interactions and asset trading.
The DeFi market is brimming with business ideas. With rapid and dependable blockchain development solutions from professionals, you may figure out and implement a lending/borrowing, yield farming, or staking platform with no effort.
What was a little niche with a market cap of $10 billion in 2019 has grown into a thriving DeFi universe with a market cap of $100 billion by 2021? Defi market worth surged more than eightfold in ten years, from $10 billion to $83 billion. Investing in the area where top US investment funds and VCs are focused is thus a strong choice for 2022.
Blockchain Business Ideas #14 – Cyberattacks Security Solutions
Cyberattacks are becoming more common by the minute. Businesses of all sizes are vulnerable. Blockchain is far more secure and safer than traditional security measures. One key advantage is that blockchain data is decentralised, with numerous computers and nodes maintaining crucial information. In contrast to traditional servers and data storage, where everything is in the same location. Once a cyber attacker has gained access to a conventional data repository, everything is in danger. This is not the case with Blockchain technology; it is almost hard to attack and destroy a whole network, which means sensitive data is secure in a dispersed network.
Blockchain Business Ideas #15 – Retail Business-
Setting up a blockchain-based retail enterprise does not require much development. Most nations currently have a private-sector framework in place that allows customers to manage their supermarket shopping using their smart devices. These current technologies may be included in the coding of blockchain technology, allowing company owners to convert.
So here they are, the top 15 blockchain business ideas. Obviously, the web has evolved during these years and after the concept of Web3.0 came into existence use of blockchain technology is skyrocketing. Thereby it is needless to say in the coming 3-4 years down the line most of the technologies, and apps will shift on the blockchain. You may also gain a foothold in this expanding industry if you investigate the vast blockchain possibilities and create an original enterprise that provides its target consumers with some distinctive added value.