Business Overview

Blockchain services provide a public ledger for companies who want a better way to organize their projects, finances, and information. While it’s most commonly associated with cryptocurrency, the blockchain can be used for practically every type of business transaction there is.

Who is this business right for?

People who understand just how revolutionary the blockchain can be. This invention is being compared to the invention of the internet — and for good reason. The blockchain provides a safe, decentralized way to cut down on fraud, verify huge amounts of data, and speed up communication between multiple parties.

What happens during a typical day at a blockchain services business?

The majority of the day will likely be spent programming and perfecting the blockchain. Owners will also spend time marketing, networking, and developing new ways to serve their customer base.

What is the target market?

Practically any industry can use the blockchain, even though it’s most commonly associated with cryptocurrency transactions. Essentially, the blockchain makes it nearly impossible to hack into a company's information, which is increasingly necessary as virtual fraud continues to rise. But more than this, the blockchain also provides a way to communicate at a level we've never seen before through the use of smart contracts. These special if/then statements are so versatile that it can be applied to industry projects in ways we can't yet imagine.

For example, the construction industry can use the blockchain to make it easier to work with multiple vendors. When all action can be seen in the ledger it virtually eliminates confusion about who’s responsible for what. The real estate industry is already using it to coordinate sales and even make investment easier. The blockchain can work with extremely small numbers, meaning a person could buy 2 mm of a property if they so chose!

How does a blockchain services business make money?

Blockchains will typically either set up a SaaS model or charge a one-time project fee. They may also charge to verify transactions across their network. One of the biggest advantages of blockchains is that they can successfully handle micropayments. These transaction fees are typically done via cryptocurrency such as Bitcoin or Ethereum.

What is the growth potential for a blockchain services business?

The blockchain is exploding, and it’s only likely to keep going. No matter how experts feel about cryptocurrency, the underlying technology is only getting more popular. As it becomes more universal, it’s not unlikely that we’ll start to see practically everyone switching over to this revolutionary platform!