Blockchain, as the experts reveal, has groundbreaking applications in almost every field that we will continue to discover. From an entrepreneur’s point of view, you can find it difficult to know where to begin. We are quite aware that blockchain holds the key to several business segments futures, but what specific niches are required for innovation?
It’s impossible to come up with blockchain business ideas on the spur of the moment which is why this article will discuss top potential business ideas in context to the same.
- Start a dropshipping business:
There are a number of reasons why this point is at the top of our list, we’ll mention major points. Blockchain in shipping especially drop shipping has developed into a very fascinating online business model that entrepreneurs can get into without a lot of start-up capital in recent years. When a merchant or seller uses drop shipping, he or she looks for suppliers of whatever commodity they choose to deliver.
Diving more in the understanding of the same, the seller’s shipping and logistics are handled by a 3rd party, typically a wholesale or dropship provider. Channel management is easier to track and management costs are lower because the information is open and shared. Due to the attractive nature of drop delivery, also considering COVID-19, it’s no wonder that people are opting for this model over traditional retail, which entails purchasing and storing inventory before selling it. This has opened up the possibility of a limitless dropshipping market.
- Supply Chain Network
Supply chain and logistics management are some of the most innovative blockchain industry concepts. Apps that log and monitor each stage of the supply chain cycle, which involves multiple stakeholders, blockchain container shipping are required. Blockchain has the ability to secure supply chains from start to finish, from buying from your favourite tech website to purchasing fair trade coffee.
- Blockchain Consultant
It goes without saying that to work as a blockchain consultant, you must be an expert in the field. Blockchain consultants may be experts in one or more areas, and they can help with everything related to the industry which also explains why this business is considered to be a pool of opportunities.
Individuals and companies hire consultants to help them better educate themselves or execute their plans using cryptocurrency blockchain. Try your luck here!
- Cryptocurrency crowdfunding business website:
A crowdfunding campaign helps you to decentralize the fundraising process by enlisting the help of backers and supporters who are willing to contribute funds upfront. You will further decentralize things and hit a global audience by embracing bitcoin as a payment method for your campaign.
- Start a merchant wallet account:
Setting up a retailer account to accept bitcoin and other cryptocurrencies as a payment method is one of the best cryptocurrency business ideas. Accepted bitcoin is usually converted to cash automatically by merchant wallets, reducing volatility and providing an alternative payment option for your customers.
- Register blockchain/cryptocurrency Domain Names
Another blockchain business idea is to register blockchain or cryptocurrency domain names and then sell them later for a fee. Domain names are in high demand as the cryptocurrency niche grows in popularity. So take advantage of this opportunity by securing the most common cryptocurrency domain names.
– Become a virtual trainer:
By being a blockchain/ cryptocurrency mentor, you will provide assistance and information to these individuals. You should be aware that in today’s world, selling knowledge is an excellent way to make money.
You can think of subscription services in this business type. Amid covid-19, online subscription services are given more preferences than receiving any in person.