Blockchain technology has piqued the interest of various industries and is changing the way businesses operate, allowing for faster-paced changes. The use of business models based on Blockchain is on the rise. Have you heard of cryptocurrencies? You probably have, as they have been a hot topic lately. Well, cryptocurrencies are businesses based on this technology.
At MIIM, we list several business ideas based on Blockchain.
What is Blockchain Based On?
Before we begin, it’s important to understand that Blockchain is a technology that allows for secure transactions and provides transparency. This chain of blocks stores its information in blocks and can be shared and saved in real-time.
It is entirely secure as hacking it is practically impossible, providing peace of mind to companies and users working with Blockchain. Its two main functions are keeping data secure and recording anything of value.
If you’d like, you can read our in-depth article on What Blockchain is.
The Best Blockchain Business Ideas and Opportunities
As Blockchain technology has evolved, new business ideas based on Blockchain have emerged. Here are several ideas from MIIM.
International Financial Transactions
Some international money transfers involve high bank fees, and the money takes time to reach its destination. With blockchain technology, a secure system is used to send money from one place to another in seconds. The fees depend on the business model of the company handling it.
Protecting Official Documents
To this day, it’s still possible to forge official documents and steal someone’s identity, or become a victim of administrative errors. With this technology, such occurrences should be eliminated.
Blockchain Consultant
In this profession, you need to be highly specialized and incredibly knowledgeable, as this is a growing business that is in high demand. Professionals in this field offer assistance to companies and individuals in implementing their Blockchain-based businesses.
Building a Cybersecurity System for Transactions
Compared to tracking digital assets operating on this technology, traditional payment systems are easier prey for hackers. Cybersecurity companies handling transactions will make it impossible for hackers to steal information.
Creating and Selling Guides and Manuals for Using Blockchain
Write and sell guides on how this field works, as it is still quite complex for the majority of the population. A manual explaining what it is, what it’s used for, and how to use it. This will also help professionals in this field expand their knowledge and learn more technical aspects of this world.
Blockchain Blog and Podcast
Similar to the previous idea, create a blog where you discuss blockchain, related topics, new trends, etc. Keep the blog regularly updated and monetize it to generate income.
There’s also the idea of hosting a radio show that discusses it, interviewing experts in this field and, above all, offering rich and engaging content to your listeners.
Creation of Smart Contracts
These contracts use software and a series of protocols to facilitate work, verify information, or enforce agreements.
Insurance Industry
Entering the blockchain field is a great opportunity. With it, data can be organized, protected, and managed. Its advantages include streamlining processes, reducing time, detecting and preventing fraud, and increased efficiency.
Storage of Medical Records
Medical records contain personal and critical information that outlines a patient’s data and condition.
With an application based on blockchain technology, medical record storage can be optimized, protecting the constant flow of data and maintaining transparency without the need for intermediaries or third parties.
Transportation Applications
These applications would solve problems such as administrative efficiency, order tracking, or dispute resolution. For example, by keeping records intact, ensuring more consistent tracking, and providing safer payments.
Professional Blockchain Services
Professional Blockchain services are services that companies offer to businesses lacking expertise in this field or those that are new to it. For example, a company seeks another to implement this technology in its project and customize it for greater effectiveness, transparency, and security.
You don’t have to invest in hardware or software, not even in team training; just hire a specialized company in this field to assist you.
There are companies that offer consultancy, auditing, legal document development, etc. All of them are related to blockchain technology.
You can see that Blockchain businesses are not limited to a single field; there are opportunities in many of them. There are businesses that use blockchain technology in areas like information protection, human resources, healthcare, supply chain, accounting and finance, entertainment, and education, among others.
The business model doesn’t have to be limited to a single idea; it can be a combination of several, depending on the type of business you want to create. You can create and experiment as you wish.
At MIIM, we are a company dedicated to patenting and certifying your business idea. We protect your idea using Blockchain technology. Simply visit our website and register your idea before someone plagiarizes it and benefits from it. As an entrepreneur, registering your idea is the best thing you can do. Contact us with any questions.
