Blockchain has gained a huge popularity in a very short period of time. Currently, it is helping reshape industries in multiple domains viz. Healthcare, finance, manufacturing, education, and government.
It will continue to evolve more and be used in many innovative ways. So, it is the peak time to leverage Blockchain for transforming your business and reshaping your target industries.
Before we start discussing how Blockchain technology can help your business grow in the near future, just take a close look at some interesting Blockchain stats:
As per Statista, it was expected in 2017 that the global Blockchain technology market would reach 339.5 million U.S. dollars in size and is expected to grow to 2.3 billion U.S. dollars by 2021.
According to the latest survey from IBM, it suggests that 65 percent of major global banks will use Blockchain technology within just three years. As per the reports by the same source, 17% of Banks will go to have full Blockchain product.
In terms of its usage, according to Statista, about 53 percent of respondents stated that their companies are working on a supply chain use case.
In this blog, we will discuss some ways using which you can build your own business with Blockchain technology and the respective apps.
Below given the list of such ways/strategies:
1) Connect with Blockchain
As a startup, first, you come up with a new and fresh business idea. It doesn’t matter how difficult your traditional startup business idea may seem, technology can make it look perfect and seamless.
Whether you want to start a business or scale the one you are already running, blockchain can help you in a number of ways. Some of these are listed below:
-> Help you with marketing via its transparency feature and accurate tracking.
-> Help you with funding through Blockchain ICOs.
-> Help you with security through its cryptographic system.
So use the above ideas and integrate them into your startup business which can make your next success story for a long period of time.
2) Use Blockchain-powered ICO
If you are a startup and have a great business idea, one that you are sure your target audience will love. But not having the necessary funds to advance your startup vision. Then no need to worry now as it is a common problem for all startup businesses. Traditional venture capital is actually difficult to achieve.
Today, the Blockchain technology initial coin offerings (ICO) throw good news for aspiring entrepreneurs. Start thinking of the ICOs as a way to democratize the initial financing. They provide a platform to raise funds from individual investors, assuring emerging entrepreneurs that no one is alone in this.
Few things to take care of when you are starting a business with Blockchain are mentioned below:
-> Refine your idea
-> Configure the blockchain for your new token
-> Receive the seed capital to finance your new company
A number of your competitors are already benefiting from these offers, attracting huge sums of money from the ICO driven by blockchain. According to Coindesk reports, in the second quarter of 2017, entrepreneurs raised about $ 291 million through ICO, compared to $ 187 million in traditional risk funds.
Make sure you have the technical expertise to consume all the benefits that ICO has to offer. For this, you can hire a developer to help you in this effort as they can make sure that your ICO driven by blockchain serves not only to raise funds but also as a tool to create steady growth.
3) Use crypto to running your ads
In order to grow your startup business, it is important to promote it properly. In an era of widespread online advertising frauds that attract attention, promoting your startup business can be challenging as building and executing it.
Desperate to promote their products, startups often bombard their customers with torrents of bulletins, coupons, practical guides, and innumerable advertisements.
The reasons usually lack attention because business leaders do not really know what exactly their clients want. They are simply waiting for their messages to attract enough customers.
However, crypto can professionally address groups of key customers with messages that resonate with them. Blockchain combines an excellent level of tracking and transparency with the ability to collect accurate data. Together with this, it guarantees the optimal frequency of ad display for each consumer.
4) Cryptography protects your startup
As we already know that cryptography can protect your data online, defend your e-commerce site, and protect your company’s files better than any other solution.
Powered by the digital signature, as well as by private and public keys, cryptography is an incredible solution for protecting your data in today’s digital business world. The reason behind its success is that it transmits information in codes. Thus, keeping the data illegible for unauthorized users.
Youngwhan “Nick” Lee, CEO of EcoVerse and founder of the W3C Blockchain community said that “Transaction logs are verified every time they move from one blockchain node to another,” and “That helps you track and review your audits. Simple and seamless fashion.”
However, you can take the cryptography beyond the protection of the data of your startup. It can help authenticate your potential customers, separating real buyers from cybercriminals.
Some major blockchain apps are listed below that can help your business:
– Apps for Notary: Uproov
– Apps for Distributed cloud storage: Storj
– Apps for Supply chain communications
– Apps for Smart Contracts
– Apps for Payments and money transfers
– Apps for Digital identity
– Apps for Networking & IOT
– Apps for Gift cards: Gyft Block
So far we have seen the list of strategies/ways in which your startup can build a great business. Using the above-mentioned ideas, it will help you quickly develop blockchain applications to redefine your startup business networks. In addition, by hiring reliable blockchain web developers, you can achieve this goal.
At ValueCoders(a leading software development company), we offer you to hire Blockchain developers who have successfully delivered more than 4200 projects to more than 500 happy customers along with their expert software testing services around the world. Have words with us today!