blockchain business ideas start a blockchain business

 blockchain business ideas start a blockchain business

Blockchain for business grow

Your company can “issue” tokens or coins by using a platform like Ethereum to create and record the distribution of these tokens as aform of investment in your company.

As an alternative to banks, lenders, private equity clubs, and evencrowdfunding, ITOs are available for exchange where they can be freely traded. ITOs are comparable to equity or revenue share in a typical company.

Interested investors can buy into your offering and receive new

blockchain-based tokens from your company. 

These may have some use with the product or service your company offers, or it may simply represent a stake in your project.

“The growing loyalty of token investors,” says Giventer, “has made ITOs

much more popular over the years, and available capital-raising alternative for businesses of all sizes.”

The ITOs can be bought and traded on the open market, where “a new

realm of liquidity is made available to the general public.”

A small blockchain business ideas can also grow its brand and product awareness by giving customers a small reward in cryptocurrency. This is known as a bounty campaign.

How it works is that your company issues blockchain-based tokens that

have some utility. Perhaps they can be exchanged for some of your

products or services in the future.

You then initiate a bounty program on a specialized forum or platform,

and, as a result, anyone can join the bounty, promote your company,

and get paid in tokens for doing simple online tasks.

If you’re in the business of verifying any sort of transaction, investigate

how blockchains could impact your company. Think about the threat of

clearing and settling stock trades and you’ll see that the disruption to

many back-office functions and other services could be substantial.

If you belong to some sort of supply chain, your partners may want you to start digitally tracking your processes, especially if you supply a larger corporation.

 Start thinking about where you fit into your customer’s supply chain

and how you might be asked to start a blockchain business.

If you supply anything to consumers or other businesses, think how

valuable it might be to be able to track your products back to their sources.

Imagine how much a fishmonger might be able to charge if he or she

could reliably prove their products were harvested using sustainable methods.

“In supply chain logistics,” says Gillian Ellas, “the combination of

blockchain, smart contracts, and the Internet of Things will allow

companies to track shipments and make payments when certain conditions are met (i.e. a product is delivered).”

An example is Maersk, the world’s largest shipping company. They began testing blockchain to track their cargo in conjunction with Dutch customs, the US Department of Homeland Security, and the companies sending the goods.

Smaller companies could easily utilize the same technology. “Imagine a grocery store where inventories are getting low,” Ellas says.

“Smart containers holding the goods could be programmed to inform a wholesaler that they need to be restocked. The wholesaler would contact a trucking company to pick up the goods and deliver them to the retailer.

 Each step would be recorded and

payments made via a blockchain because all would be verified.”

Here are some tips on making progress with blockchain technology:

Do your homework.

While blockchain has a lot of promise, there are also drawbacks you

need to be aware of. Thus, you should know as much as possible before

you jump on the bandwagon.

Blockchain for Dummies (which is a free pdf) and The Business

Blockchain books are great places to get started.

Ask why blockchain business ideas.

Before you spend the time learning a new blockchain system, make

sure you’re adding the tech for the right reasons. In general, your reason should be to save time and money or otherwise

make your business life easier and faster.

Start small blockchain business.

Pick one app and get used to it before you go all in and sign up for

everything out there. This will allow you to concentrate your efforts and get used to just one system instead of trying to do it all at once.

Final Words Companies are always getting bombarded with “hot new tech” that’s

going to change their game.

Some of this technology ends up being useful, but some of it ends up

wasting a lot of time, energy, and resources.

 Deciding which tech will work with your business can feel like a full-time job.

Blockchain has been touted as one of those technologies that’s going to solve all your problems. 

You might even have heard it praised as a

solution to any number of business problems, both large and small.

However, it’s also been vilified—and it remains a mystery to many

business owners.

But in the end, there are some realistic practical applications for small

to medium business owners. You just need to do your research and

decide which ones will work best for your situation.

Despite all the potential, Ellas says we’re still in the early days of

blockchain technology. Three key issues need to be resolved before it

goes mainstream:

Energy Use: verifying the transactions to add to a blockchain is energy￾intensive because it takes a lot of computer power to perform all those

calculations, solving equations by trial and error.

Some technology firms are working on ways to keep the security high

but lower the energy cost.

Processing Speed: the massive number of computations also slows the

processing speed. Researchers are now working on ways to simplify

calculations and increase the number of transactions performed.

Interoperability Across Blockchains: the many blockchains (public and

private) currently don’t “talk” to one another much. The next

generation of blockchain technology may correct this problem.

“Blockchain business ideas,” says Tanvir Zafar of B2C, “is a fast-moving train that has

bitcoin as its backbone.” Many businesses have already incorporated blockchain into their

working scheme and are recording exponential growth.

From contracts and secure transactions to digital exchange and smart

contracts, blockchain has a lot to offer the small business owner.

The main advantage of incorporating blockchain into your small or

medium business is the savings of time and money it can afford you.

Although there are numerous benefits of incorporating blockchain, you

should do your research and figure out which blockchain application

best suits your business.

You’re getting in on the ground floor here, and if you pick the right

platform, you can only go up!

To your success,