Experts and analysts believe that blockchain has revolutionary applications in literally every sector that we will continue to discover. But for you as an entrepreneur, it can be a bit tough knowing where to start. Picking blockchain business ideas out of thin air isn’t possible, so best to start with a bit of inspiration.
We know that blockchain holds the key to the future of many market segments, but what particular niches are crying out for innovation? It’s fair to say that we don’t fully understand the potential of blockchain yet.
Based on our experience working with blockchain companies, here are some tips of sectors that are successfully adopting blockchain and crypto technology and have plenty of room for growth.
Online gambling is a huge market in its own right, but now blockchain-based and cryptocurrency gambling is increasing in popularity. Various jurisdictions have started legislating in favour of crypto casinos, others have just incorporated it into existing legislation.
A cryptocurrency casino is one where deposits, payment, and even wagers are executed in cryptocurrencies such as Bitcoin or Ether. Users can usually choose which currency to use and sometimes they can decide on fiat or crypto withdrawals.
Cryptocurrency gambling is popular because of low transaction fees, instant deposits and withdrawals. The level of privacy it provides users is also a big selling point. Anonymity allows customers to gamble without being identified or traced. By logging transactions on the blockchain, it also increases security and can lessen the incidence of disputes.
Blockchain-based cryptocurrency exchanges are one of the leading blockchain business ideas of the moment. There are a growing number of companies offering exchange services of different kinds, across the world.
These exchanges offer traders the ability to exchange virtual currencies like Bitcoin, Ether, and Litecoin for other cryptocurrencies, or fiat. Likewise, users can exchange fiat for crypto and hope to profit on the transaction either way.
Most exchanges will require a license in order to operate in a regulated manner. There are plenty of offshore jurisdictions like Belize, Cayman Islands, and Costa Rica were setting up is cost-efficient and quick. Another bonus for choosing an offshore jurisdiction for a crypto exchange are tax rates as low as zero.
Online shopping is without a doubt the future and more and more consumers are preferring to buy, and sell online. Opening an online shop or commerce platform while accepting cryptocurrency as payment is a great option to consider.
Not only can you accept crypto for the sale of items but you could facilitate the entire buying cycle via the blockchain. The use of smart contracts can ensure accuracy and smooth experience for consumers. Alternatively, if you already have an online store, you could consider integrating cryptocurrency payments into the process.
Supply Chain Network
One of the greatest blockchain business ideas is supply chain and logistics management. There’s a need for apps that log and track each stage of the supply chain cycle involving multiple stakeholders. From ordering off your favourite tech website to purchasing fair trade coffee, blockchain has potential in securing supply chains from start to finish.
Previously, it was impossible to make payments of less than $1 online. This was due to the fact that such payments would cost more to send than the value of the transaction. There are a number of requirements for microtransactions in online gaming, online gambling, in-app purchases, software platforms, crowdfunding, and more.
There is a demand for efficient microtransaction merchants that can make quick and low-cost transactions. These can be applied to a range of different sectors. Added points if the platform can conduct such transactions in a variety of different virtual currencies.
Blockchain App Developer
There is a big demand for high-quality decentralised apps or Dapps. Built on smart contract platforms like Tezos or Ether, Dapps are scalable, transparent, and highly resilient. They also offer users incentives and are causing huge waves in the world of apps.
Examples of successful Dapps include Golem, an open-source supercomputer, Melonport which facilitates digital asset management, Agur that provides forecasting for trading, and EtherTweet, a decentralized version of Twitter. If you’re looking for blockchain business ideas, creating Dapps is not a bad one.
Crypto Merchant Provider
As the adoption of cryptocurrency and blockchain increases, so too is the demand for payments in virtual currencies. Many big-name platforms are accepting payments in cryptocurrencies, including eCommerce, corporate services companies like, and of course online gambling sites.
Innovative payment providers to offer cryptocurrency payment services to platforms and businesses looking for this kind of integration. Whether you want to offer crypto and fiat, or just crypto, more companies will be looking for partners in this field.
Crypto eSports Betting
eSports betting has come into its own during the last 12 months. What was once on the fringes of the industry is being adopted by some of the biggest gambling platforms around. In addition to this, more entrepreneurs are looking to set up standalone online gambling platforms offering eSports betting.
There’s also the opportunity to create a platform that can facilitate the purchase of in-game objects through cryptocurrency micropayments.
Contact Fast Offshore
To run your blockchain business ideas past us or to pitch us an idea, contact us today. We have been working with blockchain and crypto since the industry started and have helped countless entrepreneurs just like you, get off the ground. From business planning to company incorporation and licensing, Fast Offshore draws on over two decades of business experience to help clients succeed.
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