The impact of blockchain for new business models

blockchain application

There is a lot to do about crypto right now. In most cases, crypto is seen as an investment vehicle and not as a currency. The currency of most digital currencies and their enormous popularity is driving governments to action. All of this sometimes distracts from the fundamental power behind crypto; blockchain. Developments on blockchain continue and we discuss some of them in relation to the new business.

1. Save, pay and invest

The most well-known application of blockchain is the cryptocurrency with Bitcoin as the best-known example. Ethereum is probably the most well-known alternative to bitcoin. Other big names in the crypto world are Ripple, Bitcoin cash (a brother of bitcoin), Litecoin and Cardano. The digital currency is perhaps an application that is still in its infancy and therefore not fully developed; in some form it will play a role in financial traffic in the future.

Governments are investigating the use of existing cryptos or, in the long run, the use of in-house developed digital coins as new means of payment, savings and investment.

The bitcoin price is moving in extremes.

If you intend to invest with crypto, you can do this via trading bots. If you do, it is wise to compare crypto trading bots, so that you can get started with the best one for you. Despite a crypto trading bot trading effectively, it is still not a good idea to take irresponsible risks. After all, there are never certainties, not even with a bot. So always only use money that you can afford to lose. Set a . in advance budget in and do not go over it.

2. Selling digital art via blockchain

NFTs or Non-fungible tokens are on the rise at the moment. You can compare this with a digital certificate that you link to a digital asset. In this way, NFTs make it possible to sell digital art. Ownership is fixed in Blockchain. At the moment, the most special examples of traded digital artworks are in the news. Official safe houses are now also stepping in. Now NFTs are used for the sale of digital art. However, this form of Smart Contracts can also be used for other applications. This development could easily end up in the day-to-day transactions of our work areas. It is quite conceivable that agreements with suppliers or customers will be settled via NFTs in the near future.

3. A long range WiFi network without a network provider

Another application supported by the Blockchain network is Helium. Then it is not about the volatile gas that we all know, but about a long-fi network set up from the crowd. It works like this; anyone who wants to can buy a box that you connect to your WiFi network. With that box you extend your WiFi network to a public long range WiFi network in your area. In concrete terms, this means that IoT devices such as shared scooters, smart pet collars can be connected to the internet via your antenna.

So together you contribute to the construction of a long-range WiFi network that all kinds of devices can use again. To boost the rollout of this network, you can earn Helium Coins based on the success of your network expansion. Due to this reward component, this is now becoming a rapidly growing network. Blockchain technology is also behind this. This development could be very destructive for the existing network providers that we know today.

Which blockchain application do you see for your industry?

Sooner or later, these kinds of blockchain applications will come closer to your own field or industry and will have a certain influence. You had better be prepared for this and start embracing blockchain yourself and come up with applications to improve the customer experience of your customers.

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