“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” by Don & Alex Tapscott, authors Blockchain Revolution.
As we all know that the 21st century is all about new technologies. People are now open to accept new and latest technology to improve their daily lives. Technologies like IOT and AI has gained a lot of pace in recent years.
And now there is a new technology arise that is Blockchain Technology.
What is Blockchain Technology?
The Blockchain is an advanced version or form of the Database storage system, which uses blocks to store data. These blocks get duplicated automatically with the mechanism of
Blockchain Technology is a technology which powers CryptoCurrency and Digital Currency like Bitcoin and Ethereum.
Blockchain Technology can be used in the field of Finance, Governance, Elections, Commerce and many more. Blockchain is a technology which runs Bitcoin.
So, I am sure that now you have got some idea about Blockchain. And now let’s discuss how this technology will benefit startups and entrepreneurs.
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Best Startup Ideas Using Blockchain Technology
As we know Blockchain is a trending technology, everyone wants to build something this technology. But, Blockchain was not introduced to replace current technologies. It came to solve the problem faced by old technologies.
The first application of Blockchain Technology is Bitcoin. Bitcoin is a token which is used to send payments without passing through central authority like banks and payment gateway. Bitcoins are not printed, they are created and held electronically.
If you want to invest in Blockchain Technology and start something with the help of this technology, then there are various fields in which you can invest your money and time.
- Health – You can start your health data platform with the security of Blockchain.
- Insurance – You can start your own Insurance company with Blockchain Technology.
- Real Estate – Blockchain Technology provide secure and fast transaction.
- Supply Chain – You can offer supply chain fraud solution with the help of Blockchain Technology.
So, there are many fields where you can use Blockchain Technology and earn huge profits. Some other fields are Logistics, Banking, Energy, IOT and many more. This is vast technology offering its use in almost every field.
You can use this technology and to start your own startup and make huge profit.
With Blockchain people can write entries into information, and community of users can control how the records are maintained. So, with Blockchain technology you get a safe and secure way to record and transfer information.
I think this technology gives you various business opportunities, and rest depends on your innovative ideas. How well you use this technology in your business.
Most importantly, to use this technology you will need experts in Blockchain Development. For that you have to find best Blockchain Development Company.
If you want to know about the best app development company, then check this article.