Entrepreneurs and innovators are more excited about blockchain technology than cryptocurrencies. It can work as a fundamental block for novel and innovative businesses. Cryptocurrencies are just the tip of the iceberg. Here are some of the best non-cryptocurrency ideas to get you started:
1. Blockchain Applications
You can build your own blockchain. But if that is too challenging, you can still build services to enhance current blockchain applications. The social web gave birth to Web 2.0 which made companies like Facebook, Twitter, Uber, and Airbnb possible. The blockchain technology will give rise to Web 3.0. This third generation of the web will introduce more distributed applications. Each application will need a supporting ecosystem. So it is a great opportunity for entrepreneurs.
Companies are already creating enhancement services for current blockchain problems. The Lightning Network is trying to build a service on top of bitcoin blockchain to speed up bitcoin transactions. Other companies are creating synergies. The Next Big Thing (NBT) is combining blockchain and Internet of Things to create the Internet of Services. DeepBrain Chain is using blockchain to bring down the cost of computing for artificial intelligence (AI). There are a lot of opportunities like these. You are only limited by your imagination.
2. Information Products
The meteoric rise of cryptocurrency prices has got a lot of people interested. They are looking for expertise and guidance. They are willing to invest in informational products. It is a window of opportunity for entrepreneurs. You can build YouTube channels like Cryptocandor or Ivan on Tech, or you can sell information packages like James Altucher.
Today most information products are concentrating on the wider market which might be competitive. But you can build niche information products that concentrate on particular industry. For example, you can create a channel to talk about using blockchain in the logistics or pharmaceutical industry.
3. Community Building
Communities are a powerful force in any innovation. It can provide a place for like-minded people to come together and create new ideas. You can organize local Blockchain Meetups which can transform into local groups. It can open up opportunities to teach seminars, provide hands-on tutorials and even try out business ideas with fellow members. Cryptominded is a company that uses the power of Meetups to bring people together.
Even though the web can offer a lot of information about blockchain, it is scattered and hard to navigate. A lot of blockchain enthusiasts still prefer a well-organized book to learn about the latest technology.
You can take your knowledge and expertise and create a book that can help others learn. Mastering Bitcoin, Blockchain Revolution, and The Business Blockchain are examples of popular books. You can also write books to teach particular businesses how to use blockchains.
5. Consulting Services
The rise of blockchain means there is a demand for blockchain skills. Blockchain-related jobs have increased by 200% in 2017. IBM alone has increased its blockchain-focused employees from 400 to 1,500.
High demand for blockchain skills means you can build a lucrative blockchain consulting service with a group of engineers and product managers. Also, if you prefer working alone, you can work as a freelancer for blockchain companies.
6. New Marketplaces
Entrepreneurs and innovators are out-of-the-box thinkers. And blockchain is an out-of-the-box opportunity. You can create new business models. Odem is trying to build a marketplace for higher education. Blocklancer is planning to create a marketplace for freelancers. The Alliance of Independent Authors is thinking of building blockchain for books.
Any market with decentralization potential is a ripe target for blockchain innovation.
The blockchain is an exciting technology. But it is also complex. You need to master concepts like distributed applications, blockchains, mining, cryptography, smart contracts, and more. But learning blockchain can help you create great wealth and prosperity. So it’s worth the effort.
If you need help developing your Blockchain business strategy, our experts at IoTCoreSoft are ready to help. Contact us today.