Following are some of the hottest Blockchain Use Cases that can be instantly setup and launched.
– Blockchain powered Cross Country Money Transfer
Money Transfer across countries has always been a complicated affair. Even in this age, it is not solved. Banks make it a big night mare to get a simple cross border transaction happen. Not to mention the big fee that is charged for each transaction and the time it takes to make the first transaction. With the blockchain and cryptocurrency in, this issue can be get beautiful solution. The money from the sender gets converted to the equivalent amount of Crypto -and- on the receiver’s end it gets converted back to fiat money. No matter which country the sender and receiver is in, the blockchain powering the system converts money from and to the respective countries Fiat ( Ex: USD > XLM > EUR )
Lot many innovation can be added to this powerful Blockchain Use case, to monetise it in different ways. You will soon see many FinTech startups across the globe trying to solve this problem using blockchain.
– Blockchain powered Supply Chain Platform.
All experts have unanimously agreed that the Supply Chain vertical will be disrupted immediately with Blockchain. With such a distributed ledger introduced in the legacy SCM systems, there will be incredible boost in accounting, provenance and process monitering. Due to the secure nature of the blockchain, the SCM systems employing it will be able to reduce fault in the entire process like never before. Almost every major industry in the world employ Supply chain management systems Ex: Aviation, Fishery, Automobile, Retail, Healthcare etc. The introduction of blockchain in these systems will create huge opportunities and help in the improving the entire system to next levels.
From counterfeit parts detection, multi-level versioning of each update in the chain, 360 degrees live tracking to incentivising performers in the process… Blockchain is will create serious positive impact in the entire supply chain cycle. For sure it is one of the most lucrative Blockchain use cases to consider.
– YouTube like Video Sharing Platform
Gone are the days of running video sharing platform on normal servers. Following are the benefits of running it over a Blockchain:
- No Costly server Fees as all the videos on your platform reside securely on the blockchain ( which is distributed across the world ).
- Every-time a video is viewed by a user, cryptocurrency gets mined. The coins mined can be shared by:
– The uploader of the video gets a share of the mined coin.
– The Viewer gets a share credited to his wallet.
– The owner of the site ie. You, get a percentage of the share.
- Since the up-loader makes money for each view of his video, he is incentivized to upload more content to your platform.
- Since the Viewer gets coins credited to his wallet for each video he sees, he comes back again and again to view more ( becomes loyal ).
- As more viewers come to your platform, more miners will be happy to share their resources for your platform to run….as more coins are mined.
– Binance like Cryptocurrency Exchange portal
By now we all know what an online Cryptocurrency exchange is. It is like the normal Stock Market Exchange. Just that instead of securities, here various cryptocurrencies like Bitcoin, Ether, Ripple etc. are traded.
Peer-to-peer Cryptocurrency Exchange’s are the talk of the town. It is one of the instant revenue generating Blockchain Use Cases. Stats say that each country in the world has space for 100 more exchanges. You can charge users a commission for each trade they make on your exchange.
– Amazon like eCommerce Platform
Running a eCommerce Marketplace on a Blockchain has some very unique advantages over doing it the traditional manner:
- Fail-proof Dispute management. The entire transaction between the Buyer and seller is governed by a smart contract. The money is released to the seller only after the product reaches the buyer and he is happy with the product. Its also seller friendly, as if once the transaction is executed the buyer cannot raise a dispute. Everything is automatically governed by the Smart contract residing in the Block chain.
- More money for platform owner. Following are the ways the owner of the site can make extra money:
– Everytime someone opens any page on the site, coins get mined. It gets deposited to the wallet of the site owner.
– Commissions on every successful transaction.
– Saving money = Making money. Since all the overheads like Dispute management is taken care by the Smart contract, the site owner needs to spend very less effort in maintenance and support.
– Since a majority of the data is stored over nodes spread across the globe. Very minimal server cost occur when running an eCommerce marketplace on blockchain.
– DropBox like Cloud Storage Platform
If you are planning on starting anything related to Cloud Storage > Just do it on BlockChain. The entire servers and storage industry is getting shaken up due to the Blockchain technology. The top 3 reasons, you should immediately start a DropBox like cloud storage business on Blockchain are:
- Distributed Storage: All the files are distributed and stored securely over millions of nodes across the globe. This brings in high performance and speed to the entire process of uploading and downloading.
- Huge Server Costs: The most important thing in this entire business is the cost you would need to pay server and storage companies. If this is cut out, you literally have NO COST to run your business!
- Solid Revenue Streams:
– Miners lend resources for storage. Every-time a file is uploaded / Downloaded by a user, cryptocurrency gets mined. The coins mined can be shared by the site owner ie. You and the miners.
– Since you have literally NIL server costs, you can have very attractive pricing for your users. They will be very glad to signup at such ridiculously low subscription rates.
– Or just keep the service for free and earn via. Ads!
Go on and give businesses like Dropbox, Box.com, Google Drive etc. a run for their money. This will be one the Blockchain use cases where you will see lot of traction soon.
– Task Rabbit like Service Marketplace
Any Service marketplace or Freelance marketplace like UpWork.com etc. can be run in a super efficient manner on the Blockchain framework. It can prove to be one of the essential blockchain use cases. Because,
- You can allow people from any part of the world pay via. any cryptocurrency of their choice. All the headache of using different payment gateways for different country is gone.
- As mentioned earlier in the ‘eCommerce’ use case, Dispute management an be automated in the fail-proof manner using smart contracts. So there is 100% Service provider and Service seeker safety.
- On the go, you can easily launch your own coin and make it the default coin inside your service marketplace. People will start trading this coin and you can start listing it on other exchanges!
– AirBnB like short-term Rentals platform
The entire short-term rentals industry can be disrupted by running such a service on Blockchain. Because,
- The entire witness based architecture is the benefit of running such a service on blockchains. A review that is posted by a guest can be only valid if recieces a critical amount of confirmations. This makes a review super important and very genuine.
- As each visit on a page mines coins, the part of the profit can be shared with guests to leave a detailed review. This will incentivise your users to leave a high value feedback as the number of up-votes for it can put more money in their pockets.
- The Decentralized nature of the blockchain infrastructure saves you a lot of operational overheads and costs. Servers, maintenance, security etc. So, you can lure more people to your platform as the charges can be very low.
– Pinterest like Image Sharing platform
Running on a Blockchain is the best solution for any media sharing platforms. It can be one of the best Blockchain Use Cases. A site site like imgur, pinterest etc. has tremendous benefits when run on a Blockchain. Because,
- Moderation of images becomes a breeze. For each image uploaded, you can reply on the network witnesses to decide if the image is as per standards or not. And people will be glad to as they will be rewarded with Crypto for each work they do.
- Since the images are stored over the distributed nodes, your media server expense are NILL. The community that lends resources are rewarded by the coins mined.
- The users of your image sharing site are incentivized to comment and share. They get a share of the coins mined for each action.
What is a Blockchain?
To put it simply, a blockchain is a distributed open database. To visualize it, it is a collection of blocks that are linked and secure. The blocks contain the data and the address of the blocks connecting to it forwards and backward. You can get more information on what a blockchain is here
Can I get more than the above 7 blockchain use cases?
Yes. There are many blockchain use cases. We will be continuously updating this list. Please bookmark this page for more updates.
Can I download and use the project source codes of these blockchain business ideas?
Yes. You can download and implement the source code. Each of the source code present for the above-mentioned blockchain use cases is open source. You can download the entire project and get it running.
Is Blockchain the new face of the internet?
Yes. If you notice in the above blockchain use cases, you will see that the models are already existing ones. All these existing models will get implemented with the blockchain architecture.