Febin John James

@heyfebin

Hidden Opportunities for You on the Blockchain

January 27th 2018

Some part of me did regret for not investing in cryptocurrencies. But then I realised trading is not my thing. I want to do things where I have an advantage. I had invested in learning blockchain for the past few months. Now, I see opportunities that are no so obvious but rewarding. Since the field is emerging, only a few people understand blockchain to a deeper level. A majority understand it to the surface level. Some just heard about it and has no clue what it is. You can benefit a lot if you can gain deeper understanding of the technology. Blockchain For Business course on edX by the Linux Foundation is a good one. Blockchain Revolution is a recommended read. Once you have good understanding of the fundamentals you can teach others, bring in your own ideas or even launch them. Here are some opportunities you can benefit from.

Writing Stories

Credits : xkcd

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.

Teaching with a Heart

Credits : xkcd

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 courses.

CryptoZombies

Validating Ideas

Credits : xkcd

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.

Starting up

Credits : xkcd

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.

Creating Open Source Blockchain Projects

Credits : xkcd

In the age of the internet, creating communities have become easy. When Vitalik Buterin’s ideas on Bitcoin was rejected, he started the Ethereum project with people who shared his ideas. If you don’t have ideas, I suggest going through the open source Blockchain based projects such as Bitcoin, Ethereum, etc. Think of ways it can be improved, or combine its ideas with a different domain. Ethereum ICO feature is a combination of decentralised payment system + crowdfunding.

Contributing to Open Source Blockchain Projects

Credits : xkcd

A senior employee from the Linux Foundation addressed the problem that they need more contributors on their Hyperledger project. It’s rewarding to contribute to open source projects because it reflects your skill set. Employers value such open source contributions. If I want to hire someone, the first thing I do is to search for their Github profile and check for contributions.

Starting a Non-Profit

Credits : xkcd

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.

Raising Funds

Credits : xkcd

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.

Emerging market brings in a lot of opportunities. So does the Blockchain market. Investing money is not the only thing that can be rewarding. Investing in reading, writing, programming, teaching and developing ideas on Blockchain can be more rewarding. If you can invest in these hidden opportunities when the massive adoption of Blockchain occurs, you will become thought leaders. Claps Please 👏 😬 .

I will write 5 kickass stories for you in the coming days. Please help me reach my goal by buying me some coffees. Suggest me your story topics here.

You can also donate cryptocurrencies.

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Thank you for coming all the way here. Follow us, HackerNoon and me (Febin John James) for more stories. I am writing a book about Blockchain. If you wish to get the pre-release version sign up here. I also recommend one book with every story I write. For this story, it’s Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World. Reading is invaluable. (If you don’t have time for reading please checkout Mentorbox).

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