Money is the need of the hour for every person to live a self-sufficient life and to be able to provide their kin with every things needed for a healthy life. Apart from instagram money, you can also make money from blockchain technology as this article deals with how to make Money From Blockchain Technology
Blockchain Technology In fact, blockchain’s decentralized nature presents many entrepreneurs with a difficult choice: build a decentralized system but forego a solid revenue stream, or create a centralized business model that leads to real profits but avoids the very aspect of blockchain that makes it so disruptive.
Fortunately, there is a happy medium: generally decentralized efforts that retain some centralized component that affords the creator of the platform with a mechanism for collecting transaction fees or otherwise cash in on their efforts.
In fact, while blockchain is still largely in the proof of concept phase, the hotbed of innovation that is the blockchain community is shaking loose a number of disruptive, yet rational business models – rational in the sense that they offer a solution to a business problem that customers will pay for.
The variety of such blockchain businesses with paths to profitability is striking.
In addition to the two such vendors in last week’s article, here are four more that illustrate breadth of innovation the blockchain marketplace is bringing to potentially profitable business ideas.
Counterfeit products are an exploding problem worldwide, as illicit manufacturers get better at creating knockoffs of everything from sneakers to soy sauce.
Brands suffer due to lost revenues and hits to their reputation, and consumers must deal with quality and safety issues.
Seal offers a blockchain-powered product authentication and services platform that leverages dynamic near-field communication (NFC) chips.
NFC chips are similar to RFID tags, only with a shorter range that requires a consumer to touch their phone to the product they wish to verify.
The chips uniquely identify the individual item and offer robust encryption to thwart counterfeiting.
Unlike Arianee, a vendor I discussed in my last article that relies upon serial numbers, the brands that use Seal’s platform must incorporate the NFC chip into their manufacturing process.
This requirement is unquestionably a challenge Seal must overcome.
Each chip is inexpensive but still adds a cost that makes Seal most suitable for luxury and other pricey items.
Its blockchain platform promises a token economy that encompasses brands, retailers, as well as consumers, who should be able to use tokens to purchase products.
The brands pay Seal for the digital certificate of authenticity each product receives, as well as the ability to track the ownership of each product as it changes hands.
Blockchain for C# Fans
However, many enterprises are lacking in the necessary language skills. For enterprises that favor Windows environments, Stratis has stepped up to the plate.
This company has written its blockchain from the ground up in C# on Microsoft Windows Server to give enterprises with C# skills a quick leg up on their blockchain implementations.
As a result, Microsoft Visual Studio is the ideal tool for building on a Stratis blockchain – a mature tool that retains its popularity in many large organizations.
Stratis also offers professional services for those organizations who lack the staff or blockchain expertise to go it on their own.
Stratis customers can deploy the platform on their own or leverage the company’s cloud-based ‘blockchain-as-a-service’ – an innovative approach to enterprise blockchain that combines the security and control of private blockchains with the flexibility and scalability of the cloud.
Reserving Real Estate Internationally
Let’s say you find a darling short-term rental on a sun-drenched Greek island, perfect for your vacation. This is one of the safest ways to earn Money From Blockchain Technology.
You drop the broker an email, and he replies with a pdf document for you to fill in – in Greek.
And then, of course, you also wonder whether the broker is on the level or simply a scam artist who simply wants to abscond with your deposit.
PrepayWay plans to address such challenges with a blockchain-based platform for making the international real estate reservation process simple, transparent, and secure.
A blockchain that provides for enforceable contracts for every party involved in such real estate deals is clearly a sweet spot for the technology – but much of the company’s value proposition is in the legal templates it provides.
These templates cover all the vagaries of local laws and also appear in multiple languages, allowing parties to read legally identical contracts in their own language.
Blockchain platform and legal templates aside, at its core, PrepayWay is in truth an escrow company – a trusted intermediary that holds funds as various parties work out the contractual details.
This function along with the distributed transactionality of the blockchain positions PrepayWay to be an early blockchain success story.
Decentralized Advertising Marketplace
One of the best ways to earn Money From Blockchain Technology. The past two decades have seen two disruptive evolutions of the advertising marketplace, first with the rise of web-based advertising, followed by the programmatic advertising we’re familiar with today.
In fact, today’s digital advertising world centers on complex bidding processes as advertisers battle to place ads on publishers’ web sites, mobile apps, and other digital touchpoints.
The current system, however, faces several challenges. Ad fraud in its various forms plagues the industry. Ad blockers challenge ads’ value proposition. And intermediaries take a large cut for their troubles.
Varanida hopes to disrupt this status quo with its blockchain-based decentralized advertising marketplace.
The Varanida platform serves three main constituencies: advertisers, publishers, and consumers.
Consumers then tokens by viewing ads that they can use to purchase premium content from publishers.
In fact, the platform gives consumers more power over ads than today’s programmatic technologies offer, encouraging advertisers to up their game by creating ads consumers would prefer to view.
Over time, improved, increasingly customer-centric ads will transform many advertisers into publishers in their own right, a disruption even more exciting than Varanida’s decentralized platform.
As with other blockchains that support high-volume, real-time transaction processing, Varanida’s platform actually consists of two levels:
the slower blockchain that essentially acts as an immutable settlement platform, and a faster transactional platform that handles the ads.
This transactional platform also makes it easier for Varanida to take a cut of each transaction.
A smaller cut than traditional programmatic ad platforms require due to the increased efficiencies that blockchain brings to the table, but more than sufficient to place Varanida into the rational business model camp.
The Common Theme: Real Business Models
Even though the four examples in this article are quite diverse in their purpose, they all include a reasonable mechanism for generating revenues.
Reasonable in the sense that the value they provide justifies the amount they can charge.
With blockchain, it’s easy to get lost in all the hype around decentralization and token economies.
But without a way of making money, such endeavors aren’t really businesses at all. You know what I call a project that doesn’t have a way to make money?
A hobby. Be sure you recognize the difference.
The technology behind cryptocurrencies is blockchain.
One of the top cryptocurrencies Bitcoin started its journey in July 2009. On April 1, 2013, a bitcoin was worth $133.76.
By April 1, 2017, the same bitcoin was worth $1,089.51. By Dec 2017, Bitcoin has crossed the $10,000 mark.
But bitcoin is not the only cryptocurrency. There are Ethereum, Ripple, Litecoin, and more. These are great markets for speculation.
Currency speculation is the buying, selling and holding of currencies to make a profit.
It’s not particular to cryptocurrencies.
All forms of money are speculated upon.
Given the volatile nature of the cryptocurrency market, there is a lot of opportunities and risks. You need to understand the risk factors. The cryptocurrency markets have huge swings.
It can leave you with cashflow problems. However, if you have the capital to outlast the swings, you can make money in this market through speculation.
2. Build Your Own Blockchain Application or Company
After cryptocurrencies started to get noticed, the scientific and research community saw other potentials. The Ethereum project is based on blockchain technology.
It also has a coin called ether. But it’s main strength is smart contracts. Smart contracts allow two parties to execute legal contracts through digital code. It can change the way we conduct business.
And there are other opportunities. BitClave, a decentralized search engine, are connecting consumers and businesses directly. It will eliminate the need for intermediaries like Google, Yahoo or Bing who track consumer information.
BitClave will allow consumers to own their own data and reveal it to businesses on a need-to-know basis. The data will reside on the BitClave blockchain.
Nasdaq is looking into building a blockchain-based voting system for electronic shareholders.
Similar voting systems can be used for government elections too. Identity, real-estate and mortgage documentation is moving into blockchain.
Companies with copyrighted materials like books, music, and videos are looking into blockchain to protect against piracy.
3. Provide Services for Blockchain
If speculating or building new companies is not your thing, you can still work in the blockchain industry. With the rise of blockchain-based startups, the demand for people with blockchain skills is rising.
It’s not only programming. These companies need people with finance, marketing, and management skills.
There are free and paid courses available. You can invest time and money to understand the blockchain technology to further your career.
Or you can start making money by providing freelance services to these companies.
- Provide Teaching services
Recent announcement by CFA Institute to include Financial Technology subjects like Blockchain and Cryptocurrency as a part of their syllabus gives a clear indication that in the coming future, such technology will play a huge role in Businesses across the world as well as in Banking.
There will be a huge demand for FinTech experts for teaching and guiding students and potential managers in this line of Business. So, starting your own Coaching center for training students in this arena will be a pretty good idea.
Conclusion on the blockchain Money
In a relatively short span of time, Bitcoin and Blockchain technology have managed to gain the attention of millions of individuals spanning across several continents.
But care must be taken that the technology is not yet in full implementation and is still taken with scepticism by many govts.
Blockchain is the new frontier. It’s the “wild wild west” of technology. For every adventurous soul, there is an opportunity out there.
But the blockchain ecosystem is complex and you will have to invest time to learn.
There are lots of scammers out there, especially if you are trying your hand at cryptocoin mining.
So you need to understand the technology and the industry thoroughly before you take the leap.
JP Morgan Chase has invested in startups like Axoni, Digital Asset and Circle and hopes to implement the technology developed from their investment in their financial services Business.
The technology seems to be growing with each passing day.
Although, many claim this to be a bubble that will soon burst. However, the pace of improvement and increasing application in different fields shows that it is here to stay.
There is no domain which in untouched with the impact of Blockchain technology.
Companies in healthcare, medical, transportation, retail, etc. are eyeing towards this technology as a probable solution to the issue of safety.
This has made more and more companies invest money in Blockchain companies. Hence, this was all about how to earn Money From Blockchain Technology.