Summary: Let’s discuss some top blockchain business ideas in this post that help start a successful business in the year 2023. If you need help of subject matter expert or hire blockchain developers, you can contact CodersDaddy: an award winning blockchain development company.
Blockchain technology has expanded rapidly since its introduction. It’s now on the verge of changing businesses in ways that most people haven’t even thought about. Whether you operate an online business or have your own brick-and-mortar shop, blockchain technology can improve how you do business and make you more money.
Blockchain can benefit businesses across all industries, but where do you begin if you’re thinking of starting your own blockchain business? That’s what we cover in this list of ten blockchain business ideas you can’t ignore. We cover everything from the crypto world to business applications, so whether you’re into cryptocurrencies or not, some great ideas are here to kickstart your entrepreneurial mind.
What is Blockchain?
Blockchain is a technology that has a lot of potential in the business world. The blockchain is an immutable, public ledger that records data on a distributed network of computers. This makes it transparent and tamper-proof. Blockchain was initially used to create Bitcoin, but this novel technology can also be applied to other areas. Blockchain technology is still in its initial stage, so it’s hard to know where it will go next. However, there are a few ways businesses are already using the blockchain.
16 Top Blockchain Business Ideas
Now, let’s begin with some of the top blockchain business ideas for the year 2023 that help you cater to some of biggest pain areas of your customers.
Blockchain Business Idea 1: A feature-packed Cryptocurrency exchange platform
In simple terms, cryptocurrency exchanges facilitate the trading of various cryptocurrencies.
The main types of exchanges are:
- Decentralized exchanges offer greater security than centralized ones because they don’t store any of your personal information or funds on their servers; however, they can be slower because they require multiple confirmations before completing a transaction
- Ads-based exchanges let you pay with your favorite altcoins in exchange for viewing ads; these exchanges make money off of ad revenue instead of charging fees like traditional exchanges do
- White label exchanges allow companies to brand them however they want so that they can integrate easily into their existing systems without having to make any changes or build any additional infrastructure first
- Order book exchanges provide a place where people can buy and sell cryptocurrencies based on what’s available on the market at that given moment
- Hybrid exchanges are a combination of two or more of the above types
The most popular cryptocurrency exchanges are:
- Binance – The largest cryptocurrency exchange with over 2 million users worldwide. They offer a wide selection of coins and easy to use interface.
- FTX – The second largest cryptocurrency exchange in the world. Their goal is to provide traders with high liquidity, deep markets, and low fees across all cryptocurrencies and their own token (FTX).
- Coinbase – A secure platform where you can buy, sell, and store crypto-currencies like Bitcoin, Ethereum, and Litecoin. It’s easy and safe for anyone to use.
- Huobi – One of the top global crypto trading platforms with over 1 million users worldwide on their Huobi Pro exchange platform offering high liquidity across multiple currencies such as BTC, ETH, USDT etc.
You can also create a Cryptocurrency exchange by using blockchain technology. These exchanges allow your clients to efficiently trade cryptocurrency for other assets or currencies. It also allows for exchanging one cryptocurrency for another or fiat money.
These exchanges are often used to liquidate any cryptocurrencies you might have and to trade one cryptocurrency for another that might be more profitable in the short term. Some benefits of Crypto exchanges are:
- Faster than bank transfers and at no charge
- No government restrictions
- Check out these benefits of cryptocurrency exchanges
- Cryptocurrency exchange: How you can make money trading digital currencies
- Maximize returns on digital currencies by knowing when to buy and sell
- A cryptocurrency exchange maximize gains
- Users can choose their own levels of privacy
- Exchange Cryptocurrencies in a few minutes
Blockchain Business Idea 2: Create cryptocurrency e-commerce platform
Cryptocurrency ecommerce is a relatively new trend that is all the rage. With the growing popularity of cryptocurrencies like Bitcoin and Ethereum, more and more people are looking for ways to use them in their everyday lives. Cryptocurrency ecommerce is the future of online shopping.
A cryptocurrency ecommerce site allows you to do just that — shop for everything from clothing to electronics using only crypto! No credit card numbers and/or personal information is required — just enter the number of coins you want to spend and let the site do the rest.
It’s safe and secure, too. Unlike some other websites that deal with money, these sites have no problem sharing their security protocols with you so that you know your money is safe from hackers (or even from the site itself!). Here are three ways that it can help your business.
1) Faster Transactions – One of the most significant benefits of using cryptocurrency is that it allows you to make faster payments than other traditional payment methods like credit cards or PayPal, which means less waiting on your customers and more sales!
2) Lower Fees – Another benefit is that it has much lower fees than credit cards or PayPal because there doesn’t have to go through as many mediators like banks or other financial institutions before reaching its final destination, which means more profits for you!
3) Greater Security – cryptocurrency helps provide greater security for you and your customers. It uses robust encryption techniques to keep all of your personal information safe and private, unlike traditional payment methods for instance credit cards or PayPal, where all of your personal information is exposed and vulnerable to hackers if they were able to get a hold of it which means less worry and peace of mind for everyone involved!
So how does it work? When someone wants to make a purchase with cryptocurrency, all they need to do is send some cryptocurrency from their wallet (which stores their digital money) over to yours.
Once it arrives, you’ll be able to process the order immediately without any delays or wait times like with other payment methods, making things super easy and convenient for everyone involved! blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 3: Create a blockchain app that help patients & doctors securely transfer sensitive medical information
Blockchain technology is being used to solve some of the problems in healthcare. The main issue it addresses is securely transferring sensitive medical information. This can be done with an app that sends data over a secure network and stores it on a blockchain database.
The encryption ensures that only authorized people can see the records, which are immutable, which means no one can change them. This app allows doctors to send lab results, x-rays, prescriptions, etc., while preserving privacy. For example, doctors might have access to your medical records, but patients would not have access to theirs.
Medical staff would only have access to the information they need to do their job. Patients would have complete control over what information they share, who sees it, and when. As soon as a patient signs into their account, all the latest data will show up for review – with no waiting time for updates. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 4: Create a platform that help artists get the money they deserve
Artists need a solution that can help them get the money they deserve. The way to do this is by entering into a decentralized, transparent contract where the artist can get paid in full.
This is where blockchain comes in. In your app, artists can create their own personal ICO and offer equity in exchange for funding, essentially becoming the artist’s own record company.
This enables artists to retain control over their work and profit from it, which was never possible before with traditional models. Additionally, an artist can track every single download or stream on their website or streaming site and make sure that people aren’t downloading pirated versions of their music.
By implementing smart contracts for fair payment terms, an artist has complete control over their content and gets exactly what they deserve! blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 5: Create global real estate marketplace using Blockchain
The global real estate market is worth $217 trillion, which makes up 64% of the world’s wealth. The online marketplace app can use blockchain to make title issuance instantaneous, or in other words, the process of transferring a property right to a buyer.
This can make it possible to prevent fraud and allow people who may not have the cash on hand to buy property. Another way this technology could be used would be by creating an escrow service with cryptocurrencies as the only form of currency that would eliminate any need for intermediaries like banks.
There are two necessary elements to facilitate cryptocurrency payments in a traditional escrow service: digital wallets and payment gateways. Digital wallets are required for storing cryptocurrency holdings and making transactions; payment gateways are essential for exchanging fiat currencies into cryptocurrencies like Bitcoin.
With both types of platforms facilitating cryptocurrency payments, all parties involved with the transaction could pay using their preferred method without worrying about being left out because they don’t carry one type of currency over another. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 6: Create Blockchain-enabled cybersecurity platform for IoT companies
IoT is an advanced technology that has been around for decades and is one of the most rapidly growing industries in the world. It has gone from being used to monitor factory equipment to things like smart homes, connected cars, and smart cities.
The blockchain-enabled cybersecurity platform for IoT companies would provide IoT devices and networks security. The blockchain-enabled cybersecurity platform for IoT companies could help protect IoT devices from being hacked, hijacked, or tampered with by attackers. It could also enable smart contracts that act as digital agreements between IoT companies, consumers, and suppliers.
A cyberattack on a high-profile company that manages one of these connected gadgets can lead to severe problems in other industries, too; imagine an attack on an Internet provider disrupting traffic lights or tampering with hospital equipment leading to emergencies that might be prevented if the equipment was secure.
The blockchain-enabled cybersecurity platform for IoT companies would offer protection against this situation.
Blockchain-infused Internet of things adds a higher level of security to prevent data breaches with transparency.
Companies can provide insight about where their data is being shared and with whom it’s being shared. With blockchain-infused IoT, companies can share what data they want to monetize or sell within a secure environment while limiting access to other data sets. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 7: Create a blockchain app to prevent identity theft
Creating an app to prevent identity theft may seem like a difficult and overwhelming task, but it’s actually quite simple. There are many ways to accomplish this goal, but one of the most popular solutions is by using blockchain technology.
Blockchain technology allows the creation of immutable ledgers that don’t require a central authority to function. With the help of a blockchain decentralized ledger, a person’s identity can be stored securely in the form of a digital identifier on their phone or computer. This type of ledger would allow for identities to be stored in an encrypted format and never be shared with any third party.
When someone creates an account online, they can use this app to create their own digital identifier and then store their identity on the blockchain so hackers cannot steal it.
By making this type of information private, individuals could control their personal data without fear of it being stolen or leaked to anyone who shouldn’t have access. This idea could also prevent other data breaches, like social security numbers, credit card numbers, and more. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 8: Create a blockchain app that can do secure auctions
One of the most popular ideas is a secure auctions app that can be used to do auctions with cryptocurrencies as bids. What’s unique about this idea is that it leverages blockchain technology so that all bids are secured and anonymous.
This can make bidding more secure and less susceptible to fraud, because there’s no need for personal information or credit card numbers to complete an auction.
The software can also provide a range of tools for managing auction bids, such as:
- Automating auction closes.
- Setting bid amounts and time limits.
- Adding new items from your inventory.
- Tracking how much revenue you’ve generated from previous auctions.
These features would be helpful for both buyers and sellers so that they can better manage their auctions. Sellers could use these tools to set fair prices based on what people are willing to pay, while buyers could monitor how much they spend on an item.
For example, if you’re trying to buy something that costs $200, but someone else has been monitoring it and decided they want it too, then the site can notify you when someone else has made a higher bid to give yourself a chance to up your own offer before the sale ends.
The ability to watch auctions anonymously makes this site very attractive for those looking for cheap goods and privacy-conscious individuals who don’t want their name associated with particular items – such as guns or drugs – which some people might have moral objections against selling. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 9: Help you customers manage identities over web using distributed ledger technology
Creating an app that can manage identities all over the web using distributed ledger technology will help people maintain control of their information and data, regardless of where it is shared.
Imagine never having to worry about the privacy settings on Facebook again because your identity is securely managed by a blockchain app. That’s just one example of how decentralized identity management could change our lives for the better.
In this scenario, everyone would have total autonomy over what they share, with whom they share it, and who has access to that data. You would never need to think about passwords or security questions again! It sounds like a win-win for everyone involved—and we might not be far from this reality soon. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 10: Create gaming applications using blockchain
You can create gaming apps using blockchain. For example, Spells of Genesis is a trading card game that allows players to trade cards on the blockchain. It’s built on the Bitcoin blockchain and has its own token called Bitcrystals.
This will enable Spells of Genesis players to trade cards with each other without fear of fraud because every transaction is recorded in the blockchain ledger. It also means that you can buy more Bitcrystals with your hard-earned coins, which can be spent buying more cards or used to purchase in-game items. It’s a win-win for both developers and gamers. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 11: Automatically verify whether a patient has insurance and is covered
This blockchain business idea is perfect for healthcare providers and insurance companies that want to increase efficiency and accuracy. Further, it would also reduce the number of people with inadequate or no insurance. With this system, every patient has a digital health record that can be used to verify coverage and ensure the patient receives the care they need.
This is a massive issue in our country today, with over 20% of the population without any coverage. This blockchain business idea would help solve this problem by automatically verifying whether a patient has insurance and is covered so they can receive the proper care and treatment they need.
It would also be helpful to have an efficient verification process because when patients have adequate insurance coverage, they are less likely to visit emergency rooms unnecessarily, which helps decrease hospital wait times and improve the overall quality of care. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 12: An blockchain app that can make the logistics process leaner and more automated
Blockchain technology can also make the logistics process leaner and more automated. For example, blockchain-based supply chain management systems may help automate tracking goods and services from start to finish.
The plan would allow for goods and services to be followed by examining the movement of goods through nodes in a network that record information about each item’s location, quantity, and other details.
This is all done without any central authority needed for verification. Blockchain-based supply chain management systems may help automate tracking goods and services from start to finish. These types of methods may be able to help minimize delays, theft, or counterfeiting when shipments are sent cross-border.
They could also reduce the paperwork needed for transactions since much of it could be recorded on a digital ledger that every participant has access to. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 13: Create NFT ecosystem
NFTs are commonly referred to as crypto-collectibles because they are non-fungible tokens. It means no two tokens are the same and that each token is unique. In an NFT ecosystem, you could think of it as a virtual world with every asset being owned by one person or organization.
One of the main benefits is how NFTs can be used for digital scarcity. This means that only a limited number of copies can exist at any given time, therefore making it difficult for counterfeiters to make duplicates. This idea has been popularized with CryptoKitties and you could use this idea for any type of digital good – like tickets for concerts or football games, or even airline flights.
An NFT ecosystem is a business that creates a token or coins and facilitates their trade in an ecosystem. This can be done by creating an online marketplace or community where the tokens are traded or somehow facilitating the transactions.
An NFT ecosystem can be used to create tokenized assets, such as tickets to an event, paintings of famous artists, or even objects like cars. These tokens can then be traded among participants on the platform without needing a third party to validate or verify the transaction. Through integrated exchanges, participants can also buy and sell these tokens across other platforms. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 14: Blockchain-based advertising and data solution
You can create blockchain-based advertising and data solution. One of the most crucial uses of blockchain technology is to protect personal data, and storing information on the blockchain offers a degree of privacy that is impossible with traditional systems.
The blockchain is immutable, meaning that there is no way for anyone to edit or delete records. So, any data stored on a blockchain will be safe from data breaches and hacks.
In addition, advertising can be more transparent with blockchain technology because marketers can track who has seen which ads and how many times they have been viewed. This means companies will only pay for ads that consumers have seen. Blockchain allows advertisers to monitor and adjust ad campaigns in real time, which reduces wasted money.
Finally, it could even allow brands to conduct better market research. For example, when you look at your social media feed you might see sponsored content for some items or services based on what you’re searching for on Google.
If your company’s product appears in your feed then it’s likely that person searched for something related to what you’re advertising! blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 15: A platform to identify original creators and music rights holders
In the 21st century, music distribution is governed by copyright laws. Unfortunately, these laws have created a lot of confusion and distrust in the music industry as they are difficult to understand and enforce. The blockchain can provide a way to create transparent and trustworthy systems for creators and rights holders to identify each other.
A platform that could be used is TRACE which gives creators an open-source instrument to track their ownership of their work through the blockchain’s distributed ledger system. This would allow both creators and rights holders to know where the original music was published and ensure the original artist receives all royalties in full.
A platform like this can also provide new monetization opportunities to musicians, such as the ability to make content available across different streaming platforms without sacrificing revenue from any one service.
Music rights holders often don’t receive proper payment because there is no centralized location or register for transactions. By building this registry on the blockchain with a smart contract between multiple parties, transparency and trust will become a reality in the industry so that everyone gets what they deserve. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Blockchain Business Idea 16: Secure online voting platform using an open-source virtual blockchain ballot box
A secure online voting platform using virtual blockchain ballot box will help ensure the integrity of elections. The decentralized voting platform will be able to make votes anonymous, tamper-proof, and verifiable. Using a blockchain for this would also mean that no single entity can control how votes are cast or counted.
If someone hacks into the system, they won’t just have access to information about one election but every vote ever made on the network. Plus, with digital signatures as part of the process, there’s proof that all votes came from real people who were eligible to vote in the first place.
Sincere is creating a voting platform for national elections by combining blockchain technology with smart contracts and biometrics (for identity verification). The process is transparent and auditable, which ensures fair and democratic results. Plus, voters can use their smartphones to vote anonymously without revealing their identities or other personal data. blockchain business ideas for 2023, blockchain business ideas for 2023, blockchain business ideas for 2023
Conclusion
Hope you like these blockchain business ideas. If you’re looking for more, check out this list of 50 blockchain business ideas that are worth exploring. While this list is far from exhaustive, we hope it has given you some great ideas for how your organization might use blockchains. Stay tuned for more blogs and posts on emerging technologies like blockchains and other topics that will impact our world as we know it.
If you have any more blockchain business ideas, let’s discuss it in the comment box!
