11 New Profitable Blockchain Business Ideas and Opportunities in 2022




Introduction

Blockchain has emerged as a technology that has the potential to change the future. Let us show you 11 new profitable and Innovative Blockchain Business Ideas, projects, and opportunities with a low investment you can try in 2022 if you want to ride this wave of Blockchain.

"All the business ideas listed below require low investment"



Business Ideas, Projects, and Opportunities:

1. Verification in Smart Contract

(same asset detection which is classified as a different asset)


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Nowadays, we can find many decentralized applications based on blockchain, which through the use of NFT create a platform where we can trade non-fungible tokens.


But they fail to realize a problem which is to verify is this asset is duplicate or not completely.


For example, although a hash code can differentiate between two exact values, but this hash code also classifies two slightly different graphics, artwork, etc as different sometimes although there are the same asset.



Two Same Asset having different hash code can get listed as a different asset. Blockchain world one of the best blogs on blockchain niche
Two Same Asset having different hash codes due to different resolutions can get listed as a different asset

But due to changes in content, hash code will classify them as separate asset. Therefore, Mona Lisa's painting could be listed multiple times on the NFT by listing different resolutions of that painting on the platform as different tokens, which would alter our perception of the NFT as a non-fungible token.


Solution

Create a Smart Contract that can verify if the asset is already listed on the platform or not. This will not only verify the digital asset from hash code, but also from the content of the asset.


This might require the knowledge of Machine Learning, Artificial Intelligence, and Open CV Platform where one can detect changes in the images. The later part of the solution can be to differentiate between images and then hosting the NFT's on the platform. A centralized authority can also be used to check the NFT, but that would change the main purpose of a decentralized application. For this reason, we need to verify the content of the smart contract itself.


2. Automate Cryptocurrency Buying Behavior


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Cryptocurrency markets are extremely volatile. Cryptocurrency prices fluctuate over a short period of time. Because of this, crypto trading is becoming increasingly popular. Nevertheless, cryptocurrency trading is a very risky approach due to its volatile nature.


Solution


Create a platform to trade cryptocurrencies automatically through a platform. To solve the problem in this field, we need to develop a machine learning and statistics solution to reduce the risk in crypto trading.


One can create a software solution that predicts crypto markets and even buys them when the market crashes. This application can also sell the cryptocurrency when the price is at its peak.


Subjects like Data Mining, Machine Learning, Database Management Systems, and Statistics can come into play.

3. Fast Peer to Peer Transactions in Blockchain


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Another problem that is faced by blockchain is the speed of the transaction. Blockchain transactions tend to be slow as they are delayed by the consensus algorithms which take approval from every other user on the network to verify the transaction.


The blockchain transactions are also slow because the time to add a new block is around 10 mins (for bitcoin).

Blockchain transactions are very secure as compared to database transactions. The only drawback lies in the speed of the transaction in comparison to the database.


Solution


By developing a quick peer-to-peer transaction platform or a fast consensus algorithm, we could achieve transaction speeds similar to those possible in a database, but with the added security of blockchain.

4. NFT Trading Dapp Platform


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

In the field of art, many pieces are duplicated and there is no documentation of ownership. The problem with centralized systems is that they can be easily tampered with by anyone with malicious intent. No proper entity has rights to track ownership, therefore individual digital assets are not protected by de-facto laws.


Solution


NFT which equates to Non-Fungible Token can be used to keep track of digital assets. They can also be used to keep track of ownership of the asset.


They can be used to make applications to keep track of ownership of art, video, animation, graphic files, etc.


NFT based on blockchains can solve this issue since there are no duplicate tokens and no data can be altered. They can easily be used in case of transfer of ownership of that digital asset.


5. Inventory Management Dapp

Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

For a business, keeping the track of Stock Inventory is a very important task. Slight tampering in the data can lead to losses for the business. Issue of duplicate items being delivered to the customer can also arise in a poorly managed inventory system.

To avoid these types of problems, one needs to create an extremely secure system that is tamper-proof from any malicious actor on the scene.


Solution


One can use the private blockchain or even use NFT to keep track of the assets which will stay on the blockchain network tamper-proof. This platform will be a Dapp i.e. a decentralized application.


When the item would be bought, an NFT token would be created on the blockchain network. When the item will be sold, the ownership of the NFT will be transferred to the other user.


6. Cryptocurrency wallet


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Solution 1


Many Cryptocurrencies are emerging in our day-to-day lives. Managing these cryptocurrencies is a tedious task. One can make a crypto wallet application that can manage all the cryptocurrencies together.


Solution 2


If not crypto wallets, then one can develop a website which with the help of APIs can display the prices of cryptocurrencies, and then at the same platform one can try to sell the cryptocurrencies. This can help them earn commission income and ad revenues.


7. Permanent Ledger Services


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Data privacy and security are some of the key concerns of users these days. People have become aware that their data is important and data breaches can cause financial damage to the person. So a secure network to store personal data is required.


Solution


In the modern world, a more secure way of storing personal data such as documents, personal photos. videos etc would be to store the data on a private blockchain.


One can create a private network on their own or partner with the government in order to create a private secure blockchain network where all the important documents can be stored.


8. Supply Chain Management Platform


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Supply chain management plays a key role in the development of a business. High-Quality products help in building the brand of the company.


Counterfeit products in the supply chain can disrupt a brand's reputation. These counterfeit products are also very difficult to track.


Solution


Build a blockchain-based supply chain management system that keeps track of the product from manufacturing to retail in the whole supply chain. This system would be a secure way of creating a locked system that cannot be changed by unauthorized entities.

Bonus


Cryptocurrencies can be used to keep track and develop the software as they can facilitate inbuilt product creation and selling with the same currency. For example, an application built with Ethereum can be used to track the products and even sell them with the ETH cryptocurrency.


9. Cryptocurrency


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

One can simply create own cryptocurrency which will by the use of blockchain enhance the world of transactions. The banking system faces double spent problem these days. One can solve this problem by the use of blockchain transactions.


Extra


The cryptocurrency should be unique. As we know there are many cryptocurrencies out there. So a good idea would be to create a cryptocurrency that has features such as fast transaction speed, secure transaction, easy hashing algorithm, efficient consensus algorithm, etc.

10. Census Data Permanent Storage Platform


Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

The government face an issue regarding how to store digital consensus data that is should remain immutable. Documents such as passport, driving license, birth certificate, etc need a secure platform that would be immutable


Solution


The government can create a platform for storing digital assets on the blockchain. Using blockchain technology, this platform will be able to protect individual digital assets on a secure, immutable, and advanced platform.


Your role as an individual can be to make a project on this and show to the government that how we can enhance our storage platforms for secure storages of public data.

11. Blockchain Platform Services

Verification in Smart Contract. Blockchain World one of the best blogs on blockchain niche

Blockchain technology provides a secure and safe environment to store information on the internet. But this information is public if we are using a public blockchain. But many companies want to store their private information on the blockchain.


Many companies want to create a personal private blockchain for themselves. This will not lead to exposure of their private data on the internet.


Solution


Create a platform where can host their private blockchain which can be only used by authorized members of the network. Users will be able to host and create private blockchain networks on this platform. This would be similar to WordPress when it comes to website creation and hosting.

You can also create a company that delivers private blockchain solutions. The company can help in creating personalized business solutions for its clients.

Conclusion


It is clearly evident that blockchain is a futuristic technology. Many uses cases can be created for the use of Blockchain Technology.


But the important thing is to implement the idea and not the idea itself. So I wish you good luck with your adventure.


Any Questions? Feel free to ask in the comments section.



187 views0 comments

Recent Posts

See All