Overview

If you are looking for some profitable Blockchain business ideas, you have landed on the correct page. Here, we suggest some of the most beneficial blockchain ideas for businesses that are in high demand. So, read the article till the end to learn what you can do with this latest and promising technology.

What is Blockchain?

Blockchain is a technology that stores information in a way that makes it immutable, impermeable, and decentralized. It means it can not be easily changed, hacked and is distributed among a large network of nodes. This technology improves the manner of recording transactions.

Generally, this technology is mainly related to cryptocurrency. However, it has various applications in different sectors. Along with that, it has opened up various blockchain business start up ideas that will give significant revenue. Most people ask the query, “What is the best blockchain for business?” So, let us check some of the most promising business options using blockchain technology.

10 Blockchain Business Ideas with High Potential

Blockchain technology can be implemented in almost every business sector. Here, we are discussing some of the most trending blockchain startup ideas that help you generate a decent earning in a shorter period of time.

#1. Gaming and Non-Fungible Tokens

Non-Fungible Tokens or NFTs are digital assets with unique certifications. Integrated with Blockchain technology, these tokens cannot be replaced, copied, or forged. It ensures immutable ownership of assets while you play games. Blockchain gaming encourages play to earn. So, online gaming could be a great career alternative to many people.

How can gaming be a Blockchain business Idea? Like players, game developers can also earn money when players purchase in-app assets or as transaction fees. One of the great examples is Axie Infinity. It has generated a revenue of around $1.3 billion in the previous year.

#2. Blockchain Integrated Cloud-Storage

In terms of cloud storage, blockchain offers more security and speed at minimum price range. As it is a decentralized network, it employs the unused space of each system which is a part of the network. It might sound like it is easy to breach. But, it’s not true. Blockchain encrypts the file and distributes it between different nodes. Thus, ensuring data privacy.

Providing decentralized cloud-storage is one of the great blockchain technology business ideas.

#3. Supply Chain Network

Supply chain is the complete process of producing a good. From purchasing raw material to delivering to the end consumer is the supply chain. When you integrate blockchain into this network, errors and time consumption reduces to a significant rate.

In a blockchain based supply chain network, every department of the concerned process has access to the same information. Also, modification in any part of information is not possible, therefore chances of fraud will be eliminated.

Blockchain ensures authenticity, quality, transparency, fast billing, automation, etc. Because of these peculiarities, it is a revolutionary technology for the supply chain. There are numerous blockchain business ideas in supply chain management.

#4. Blockchain App Development

One of the most trending and profitable blockchain ideas for business is to develop blockchain applications.  As blockchain in its early phase, many organizations are checking its response for their business. Because of enhanced security of decentralized networks and fast performance, consumers gave positive reviews. Today, the demand for blockchain apps is very high. So, more and more organizations are seeking the best blockchain app development companies.

Considering this necessity, developing blockchain based applications for organizations is one of the profitable blockchain small business ideas.

#5. Cryptocurrency Exchange

Cryptocurrency Exchange or digital currency exchange means trading digital currencies like bitcoin and ethereum for fiat money. This business allows you to convert your digital coins into other digital currencies as well.

Now, the blockchain startup ideas which provide the cryptocurrency exchange service charge some transactional fee. It is the way they earn money from every transaction made by a consumer. Before starting trading, a consumer have to made their account on any digital trading platform so that they can purchase or sale their cryptocurrency.

#6. Secure Identity Checking

As we have discussed many times that the information on blockchain can not be tampered, it offers a great advantage in verifying the authenticity of a good or person. It eliminates the chances of fraudulent and fake user identities. In terms of products, the authenticity of goods can be verified easily.

The blockchain business ideas related to secure Identity checking are great options to consider. This  technology also allows organizations to ensure that the documents of their employees are genuine. In short, blockchain enhances data privacy and eliminates the chances of alteration.

#7. Cryptocurrency Investing Advisory

As more people start investing in cryptocurrency, the need to get appropriate investing advice also has increased. If you are looking for best blockchain business ideas, you should consider this option. A cryptocurrency investing consultant assists consumers in finding the most suitable digital coins to invest in.

They cover every aspect to make the best investment. Because of inadequate knowledge and experience of consumers in blockchain currency, some investors are ready to offer a portion of their profit to those who help them invest and grow their money.

#8. Identification of Authentic Goods

One of the major features of blockchain technology is that it assigns a unique ID to every digital asset. Once assigned can not be altered by any means. This characteristic will be of great help in identifying the branded products from the first copy. Every product will have a particular ID and distributed across the network of nodes. So, users can easily access the information of that product via the product ID.

Blockchain startup ideas integrating this technology offer users a way to verify the originality of products. Thus, it is a remarkable business option.

#9. Precise Shipment Tracking

The traditional method of tracking the shipment is inaccurate. It has various flaws which can be fixed by implementing the Blockchain technology. Identity verification will be stored in an immutable ledger that secures your identity and prevents fraud. Also, the blockchain technology is decentralized, it shares the same information to all departments involved in the shipment and to the consumers. Thus it ensures transparency.

#10. Blockchain Based Cyber Security

Last but not least, the most significant application of Blockchain is that it strengthens cyber security. Its distributed ledger system makes this technology impermeable. It does not open any loopholes for hackers to enter. Providing cyber security services is one of the trending and profitable blockchain business ideas. It offers both the company and the consumer a win-win situation.

Bottom Line

I hope this article has delivered you the desired information regarding blockchain business ideas. We explain 10 best business ideas for blockchain. All of them are profitable and in high demand. So, any new business can easily generate good revenue in a short period of time.