New year, new start, new blockchain business ideas! If you are an entrepreneur considering branching into blockchain, you might be mulling your options. At just over 10 years old, this innovative technology is making waves in almost every industry, the world over.
So which is the best niche for you? Based on our experience working with blockchain entrepreneurs in multiple sectors, here are some business ideas for 2022.
The demand for cryptocurrency and blockchain-based payment solutions is increasing. According to a study by PYMNTS, 18% of US citizens said they would use cryptocurrencies to make payments over the next 12 months. Out of those already holding crypto, a quarter used it to buy groceries and another quarter for online gaming or gambling. These figures are set to grow as cryptocurrency becomes more mainstream.
As far as blockchain business ideas go, a payment processor is a smart move. This is because allowing crypto payments gives you access to more customers. It also provides efficient, low-cost, and secure transactions for you and your clients.
Crypto gambling platform or software
Online gambling is booming. At Fast Offshore, we have received a growing number of online gambling licensing requests over the last 18 months. This reflects an evolving sector that is bringing in more revenue each year and will continue to develop. eSports gambling, live dealer games, video slots, social gambling, and fantasy sports are just some of the exciting new vertices that have emerged in recent years.
These, combined with more smartphones and access to better internet, mean the sector is expected to reach over $112 billion in the next three to four years. Cryptocurrency goes hand in hand with gambling due to its pseudonymous nature, convenience, and security. Great blockchain business ideas in this sector include a crypto gambling site, or software for operators. If you choose the former, don’t forget you will need a license!
Develop a new blockchain tool
Other good blockchain business ideas include developing a new blockchain tool. This technology has a wide range of different uses and can adapt for use in various sectors. For example, you could use blockchain and smart contracts to onboard clients, stay on top of compliance, or make sales. It can be used to manage inventory, handle patient or client records, or track packages as they make their way to the purchaser.
Whatever industry you are in, there is likely a way blockchain can make it more efficient. Developing a new tool for use in specific or several industries is a great business idea for 2022.
Blockchain eCommerce site
The shift towards eCommerce was underway before the pandemic, but it has accelerated over the last two years. More and more people prefer to buy things online, which means there is more space for innovation. A blockchain eCommerce site could harness the technology in two ways. Firstly, it could use a blockchain-based inventory system, smart contracts to manage the purchasing process, and blockchain to track delivery. This would speed up the process and reduce person-hours spent, reducing costs for you.
You could also accept cryptocurrency payments either directly or via a payment provider. If you are operating an eCommerce site in 2022, you should be offering at least one cryptocurrency payment method to keep up with consumers’ demands. As far as blockchain business ideas go, eCommerce is an excellent option, as demand is unlikely to waiver any time soon.
Fast Offshore is not a blockchain developer, nor are we experts on the mechanics of the technology. Our job is to assist you with your blockchain business and to facilitate all corporate processes for you. This includes incorporating your company, structuring, payments, licensing, and compliance. We can even take care of all of these matters, on an ongoing basis. Not only do we offer a practical service, but we offer professional guidance, outstanding customer service, and maximum transparency as well. Contact us today to get started!
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