The world is moving from the “internet” to the “blockchain.” Soon, we will be seeing many businesses run on this powerful new technology. In this post, let’s look at the list of interesting blockchain use cases to invest in 2019.
BitExchange is a startup that provides ready-made software for many blockchain use cases (along with documentation) to kickstart your venture easily.
Cross-Border Money Transfer App
The world has evolved very fast. Technology has grown manyfold.
Yet, the problems associated with cross-country money transfers are not solved fully yet. If you have tried to do an international money transfer, there are still so many restrictions.
But with blockchain and cryptocurrency in place, there is a beautiful solution to this ugly problem.
This can be one of the perfect fintech blockchain use cases to invest in 2019. The market for cross-border money transfer is huge and can fit in even a hundred players for each country. A fintech idea or startup in the blockchain space is for sure a must-have portfolio company for every venture capital fund in the world.
Start small by enabling cross-border transfer between 2 countries and perfect the platform. Then you can keep expanding to various countries and forming required tie-ups.
There are also many ready-made scripts available online (check this) to get your MVP up and running quickly.
Blockchain-Powered Supply Chain Platform
Proper supply chain management is one of the most important and critical sections in a majority of industries.
But this legacy industry has not gone through any major disruption in recent years. Also, the industry faces many issues that need to be solved with immediate effect. Every supply chain management process needs more transparency, accountability, Traceability must be put in place to address the modern world problems.
Thanks to the inherent “distributed ledger” nature of the blockchain, the above-mentioned issues can be addressed seamlessly.
Employing blockchain can bring in a strong provenance to the entire process. Any mistakes can be traced back to the origin instantly and corrected effectively. A consensus framework can be put in place for measuring the validity of key areas. A decentralized SCM can prove to be one of the best blockchain use cases to invest in 2019.
Blockchain-Powered Crowd Funding Platform
Crowd funding has become a common phenomenon in recent years. Projects and start-ups have started going to the public for investment, rather than following the traditional VC route.
Crowdfunding helps start-ups to raise funds without diluting much equity, and at the same time raise funds by creating pre-orders of the products.
A decentralized cryptocurrency-based crowd funding platform has a lot of merits over the normal ones.
Running on a blockchain, you can trigger an appropriate consensus algorithm to find which project is appealing to the masses. The same results can also bring in a group effect to the overall funding mechanism, thus helping projects to reach their funding goals faster.
A crypto-based payment system can also become a good revenue channel for you to launch and distribute your own tokens.
Decentralized crowd funding will be one of high ROI blockchain use cases to invest in 2019.
Decentralized Ecommerce Marketplace
A decentralized multi-vendor marketplace can be a good disruptive idea to start this season.
Ecommerce has always been the darling of the internet and has gone through various changes. The next biggest change this space is begging for is a decentralized model. It helps in directly connecting the vendors and the buyers without any middleman, and hence products can be priced relatively low.
This factor alone can attract a lot of audience towards your marketplace. A solid provenance can be established on each of the products, so customers can check the origin and journey of the products they are about to purchase.
You can also integrate cryptocurrency as the payment mechanism, so the payments go directly from customer wallets to vendor wallets (after your marketplace commission). You can also put in a strict escrow in place, if needed.
This can be one of the most lucrative blockchain use cases to invest in 2019, as you can also keep the default payment crypto as your token. This will help to get the general public and merchants transact using your tokens, thus making it very popular and attain real monetary value.
Decentralized Crypto Asset Exchange
Nothing is as profitable and proven like a decentralized exchange. T
he reason we call it “decentralized” is, you can run it with much less of a headache (unlike centralized exchanges). You don’t need to worry about costly server fees, as the entire exchange runs on clients’ browsers once it is loaded. You don’t need to worry about security, as the crypto gets swapped directly between customer’s wallets. Nothing is stored on your servers.
This is one of the profitable blockchain use cases to invest in 2019.
Running a decentralized cryptocurrency exchange is less stressful and you keep collecting a transaction fee for each transaction that happens in the exchange. Check out this ready-made script.
Blockchain-Powered Gaming Platform
Whenever a new technology is born, the gaming space is the first to get disrupted (be it AI, VR, IoT etc.). Similarly with blockchain in town, the gaming sector is ready for a change again.
In fact, the gaming sector were the first to launch virtual coins even before the blockchain craze started (remember Farmville?). The interest and market size for gaming is always evergreen and growing.
Decentralized blockchain-powered games will create many millionaires very soon. Running a decentralized gaming platform comes with many advantages. Since the decentralized game loads and uses resources of each of the user’s console, you can cut out the costly recurring server fees.
You can also build in revenue streams like “crypto mining” on the users’ computers while the game is played.
Blockchain-based gaming is one the most interesting blockchain use cases to invest in 2019. You can also introduce your own tokens in the game and reward winners with your coins.
Decentralized Video Sharing Platform
With the introduction of many media tokens, the entire content web is getting tokenized like never before. From blogs, picture sharing sites to any media portals, the tokenization concept is gaining good momentum.
It is the right time to start a Youtube-like video sharing platform that is run on a blockchain. When a video sharing platform is decentralized, the recurring infrastructure fees can be reduced tremendously.
The entire decentralized video sharing platform can be connected to platforms like Steem. This will reward miners to lend their computing resources to store the uploaded videos. A part of the mining tokens can used to incentivize users to upload videos. Also, you can incentivize viewers of videos, so they come back more often.
Of all the blockchain use cases to invest in 2019, a decentralized video sharing portal can gain quick momentum soon.
Blockchain Use Case for Ride Hailing App
Why leave out the on-demand space?
While traditional ride sharing platforms like UBER, Lyft etc. have been operating in a centralized fashion — guess it’s time for a blockchain-powered service.
This can be one of the most innovative blockchain use cases to invest in 2019. When the maps and computing resources required to operate a ride hailing app is decentralized, you cut out the costly fees paid to map providers and servers.
Instead you can reward the nodes that host your platform. This will trigger a mining economy around your entire business.
A blockchain-powered ride sharing app can bring in a lot of transparency. Also, the vehicle’s entire history and that of the drivers etc. can be fed into the ledger for easy provenance. This model will help reduce crime, and provide more incentives for all parties involved.
Blockchain-Powered Medical Adherence System
We all know a couple of blockchain use cases in the healthcare industry.
One of the pressing issues faced by this industry is the medical adherence problem. Pharma industry experts say that a huge loss happens year on year due to this problem.
Every health care company is all ears to hear and invest in a good medical adherence idea. In the past year, we have seen many IoT devices come up to disrupt various sectors. If we combine the power of the blockchain with IoT, there is for sure a lot of interesting business ideas that can be born.
A simple idea can be to connect smart pill boxes to distributed ledgers to monitor and notify when medicines are not taken in time.
Decentralized File Storage platform
The decentralized nature of the blockchain is expected to give the “server” industry a run for their money.
A decentralized Dropbox-like platform is a one of the brilliant blockchain use cases to invest in 2019. With this business model in place, you can expect a big miner’s crowd ready to host your files. For the resources they share, they will be rewarded with crypto.
You can attract many users to use your system as the fee will be much less than any other service (as you are totally cutting out the server fees). Also, using the inherent provenance nature of blockchain, you can bring in a perfect versioning system for each of the files stored in the platform.
Along with industry grade encryption and security, a blockchain-powered file storage system can become a big hit in the market. This is one of our favorite blockchain use cases on the entire list.
The above list of Blockchain use cases are just a top few in the bigger collection. As time goes by, we will soon see every other business vertical in the world jumping onto the blockchain bandwagon to enjoy the benefits of a decentralized solution.
There is expected to be huge adoption in the coming year as new and more interesting blockchain use cases take shape.
Why Blockchain Use Cases?
Experts say the blockchain is not just a new trend or technology. They ask to view it as the new internet.
The advantages offered by this distributed ledger are limitless, and nearly every business category in the world can make use of these perks.
Some of the most unsolved problems in technology have a promising solution in the world of blockchain. From security, effective governance, collective wisdom to accountability, traceability, transparency etc. the blockchain has an answer for everything. So why not?