This technology could revolutionize your professional life and improve your finances. This article is for you, if you are looking to start a professional career related to Blockchain and want to know how to get started.
Blockchain is a technology that allows people and companies to share information securely and transparently. The process of creating a new Blockchain development company involves several steps, but they work together so that the system is capable of storing data and carrying out reliable transactions between users.
New businesses are being founded on this technological platform. Some of the Blockchain-based businesses are Bitwage, Bitcoin Teller Machines, and Ethereum, among others.
On the other hand, this platform is considered the technology of online transactions and value exchange, it is becoming an effective way to finance businesses. This is one of the main reasons why entrepreneurs should consider starting a business with Blockchain.
Blockchain business models
A Blockchain business model can be defined as a set of rules, standards and procedures that allow integrating legal needs with the technical characteristics of the protocol to create and provide value to its participants.
They are a new way of projecting value creation. A business model through Blockchain allows reducing both operational and financial costs.
Technology allows the development of products and services that previously did not exist or were very expensive, such as instant transactions without intermediaries or decentralized systems without physical servers, and could be considered the most lucrative business in all of history.
The Blockchain development services business model is based on the idea that participants must trust each other. Not much is known about how Blockchain-based business models will work. However, there are some ideas that can serve as inspiration for entrepreneurs interested in this type of technology.
Traditional business model
The typical business model, which is the best known and with which we are all familiar, is based on an intermediary who acts as a seller and buyer of products or services.
In this case, the intermediary does not offer any added value to the client, but simply plays the role of “intermediary” to be able to sell their products or services, in many cases without having to use technology as a basis.
The traditional business model is a form of organization that has existed since at least the Middle Ages. In this form of organization, individuals come together to create a project that will allow them to generate a benefit from the shared and cooperative use of resources.
For example, if you want to sell your house, the first thing you will do is hire a real estate agent. The agent is responsible for finding buyers for the property and negotiating the final price with them. In other words, what he does is provide services that are not available in a decentralized market like those offered by Blockchain technology.
For many entrepreneurs, the traditional business model is the one they know best. This means that it is an idea for a new product or service that attempts to compete in the current industry and offer something different.
Business models based on Blockchain combine the advantages of the traditional market with the advantages of cryptocurrencies, such as decentralization and security.
Intermediaries in the traditional market are necessary to organize transactions between participants in commercial operations. In this type of model, entrepreneurs have to deal with the management and administration of the process, in addition to facing the high associated costs.
Types of Blockchain Business
● Exchange and purchase of tokens
Business owners can use this type of model to create new ways for their customers to buy and sell products and services. The system works by issuing and selling tokens, which can be sold on a secondary market like any other financial asset.
Investors buy the tokens in order to earn a return when prices rise. In this model, profits are imputed to the owners of the token and not to the Blockchain project itself.
● Creation of development platforms
Development platforms are websites that allow users to create their own decentralized applications. Users can also access the source code and modify it to improve the system. Development platforms provide a simple means of producing new goods and services and are a crucial component of the Blockchain development company ecosystem.
Conclusion
A few years ago, no one knew what this technology was and now it is present in all types of industries, where it is possible to create decentralized and distributed systems that are based on mutual trust between participants.
About Jayasuriyan
Jayasuriyan is a Digital Marketing Executive. He designs marketing strategies with the intention of using high-quality content to educate and engage audiences. His specialties include social media marketing specialist, SEO, and he works closely with B2B and B2C businesses, providing digital marketing strategies that gain social media attention and increase your search engine
