Hackernoon logo6 Promising Blockchain Opportunities You Need to Know by@febin

6 Promising Blockchain Opportunities You Need to Know

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@febinFebin John James

Business Opportunities on Blockchain

1. EdTech Startups

I explored a lot of Blockchain courses in Udemy, Blockgeeks, etc. Some of these courses are good. But, there is a room for improvement. It can be made much simpler, interesting and engaging. I recently came across CryptoZombies. It teaches you to write a smart contract by building a game. It was on top of HackerNews. There is a good demand for such platforms. I would recommend you to read the book The Innovator’s Dilemma.

CryptoZombies

2. Blogs

There are a lot of articles with jargons about Blockchain, but stories are less. There is a good audience who is looking for simplified explanations. Since it’s an emerging market a lot of ideas are still to be imagined. You can write about Blockchain by thinking about its use cases in different industries. Eg. How will Blockchain impact the health industry? or the education industry? You can also write by combining ideas from different fields. Made to Stick is a great book that can help you explain topics simply in an understandable way.

3. Idea Validation

You have a startup idea. You know it works when you put it out on the market with a basic version of the product (MVP). Only when people pay you money you can be sure. Typically starting to accept payments can be difficult. You need to register a company, complete the legal process, etc. Cryptocurrencies help you prevent such hassles. You can create a wallet, set up the API and start accepting payments in no time.

4. Solutions for Non-Techies

It’s difficult for non-techies to use blockchain themselves. Startups like Coinbase are addressing this market. There are potential in ideas which can help non-techies take advantage of Blockchain solutions like generating a smart contract, managing ICO funding, etc. I was exploring ICO turnkey solutions, most of them are expensive. You have to raise a seed round to afford such solutions. An affordable solution is definitely a need.

5. Non Profit

The biggest problem the Blockchain solves is that it eliminates the middleman. Producers get reasonable revenue for the work. In India middleman has exploited the agriculture industry. Non-Profits are trying to use the Blockchain to connect consumers and farmers directly on the Blockchain. Find an industry you are familiar which is exploited by a middleman. Experiment ways you can use Blockchain to eliminate them. There you go, you have an idea for a non-profit.

Ethereum is one of the biggest social enterprises on the Blockchain. They have created a platform which can benefit programmers, entrepreneurs, social entrepreneurs, miners, etc.

Investors can fund the Non-Profits with the help of a smart-contract. This means if only certain milestones are achieved the funding will be released. This will make Non-Profits more responsible for the work they do. Blockchain also increases transparency to the system. You can find out who exactly benefits from your donation on the Blockchain.

6. Raising Funds

It has been never easier to raise investments for your idea. The biggest problem ICOs solved is anyone anywhere could be an investor. You don’t have to go through the tedious process or generate a certain amount of revenue to be eligible. Scamsters has taken advantage of these. In the future probably there would be some mechanism to prevent fraud. If you have an idea. investment wouldn’t be your biggest hurdle. You just need to convey the idea to the right people to help you raise investments. Entrepreneurs usually have these skills in their blood.

Claps Please 👏 , Thank You 😊. Follow us, HackerNoon and me (Febin John James) for more stories. I would like to introduce you to two amazing services. Earn pays you bitcoin for reading emails. Mentorbox summarises popular books and provides actionable insights.

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