Cryptocurrencies have been a part of the world for more than ten years now, and people still admire their growth and precision. On the other hand, Blockchain technology has had its fair share of bombing the industry by providing incredible opportunities for many people and proven hardcore security systems. The reason for having excellent flexibility and exceptional security is what drives people to start their businesses around blockchain technology. However, the purpose of using the blockchain can vary from industry to industry. “It (blockchain technology) is a boon if you use them in the right way,” says Avanik Vekariya, Founder, Citrus Tech. In this guide, we will be looking over ideas to start a blockchain-based business that can make greater profits for the upcoming generations.
IDEA’S FOR BLOCKCHAIN-BASED BUSINESS START-UPS:
Here are some of the ideas for blockchain-based business start-ups, as per guided by Mr Avanik Vekariya.
1. CRYPTO GAMING PLATFORM: The gaming industry is booming with many newer technologies that help the industry widen its reach to millions. Citrus, for example, founded by Avanik Vekariya, is a gaming platform that is snowballing in terms of business and users. With blockchain gaming, developers create millions of opportunities for people and earn a good profit for providing it. It is a proven good start-up idea that requires just a good percentage of hard work and knowledge.
2. CRYPTOCURRENCY EXCHANGES: This is another business that’s seeing a bright light in recent years. In this business, all that matters is the reputation and the credibility that the owner or the developer builds within their user communities. This platform is a place where a user exchanges or trades with their assets. And, to earn as a developer, one has to charge small commissions for transactions that happen on the platform. However, all that matters is that the owner has to develop a secure shell with his community.
3. DIGITAL CRYPTO WALLETS: Here too, a user should feel safe and secured for the business of digital crypto wallets to grow. As a developer and an owner, you have to provide unique wallets with authentic, safe keys and secure your customer’s assets.
4. FREELANCE WRITER FOR CRYPTO INDUSTRY: Are you a person who is well aware of blockchain technology and the crypto marketplace? And are you a good writer? Then this is the perfect platform to showcase your knowledge. You can charge a fee and start sharing your knowledge about different blockchain and crypto niches. People now are constantly looking to gain more knowledge in these fields. If you think you provide them with adequate knowledge, then what are you waiting for? “ Words are deadlier than swords,” a good writer can change a companies reputation and build the brand to the masses.
5. MANAGEMENT SERVICES: Here, the primary goal is to create yourself as a financial operations specialist concerning cryptocurrencies. The main job of a crypto-assist manager is to provide investment advice to customers, educate clients based on cryptocurrency business and, sell financial products.
FUTURE OF BLOCKCHAIN BUSINESSES
The future holds a mixed potential as blockchain technology is emerging at its first steps. The primary projected growth in blockchain technology is in cybersecurity. According to Avanik Vekariya, “By 2020, around 10% of the world economy will be blockchain-based, and this security will last and bring drastic changes.” Also, he adds, “ Business will be worth billions by 2026 as blockchain technology will bring more creative ideas and innovations.” As far as the future is concerned, many believe that blockchain business will transform the growth of many sectors. People believe that blockchain would revolutionize how the internet took over the world in the 90s and early 2000s.
A budding developer or an owner must understand that any business can be linked with cryptocurrencies. One should educate himself about how virtual currencies and blockchain technology work and how they can positively impact the business. Blockchain’s influence is said to increase rapidly in the upcoming years. Now is the best time for a start-up to understand and implement blockchain technology in their businesses. There are no set boundaries to explore the limitations of blockchain technology and its benefits. All that is required is a piece of good knowledge and hard work to enjoy the benefits that blockchain has to provide.