How Does Blockchain Make Money?

April 17th, 2018

The rise of Blockchain technology (Bitcoin) is now being compared to the rise of the internet. These new technologies offer a wide variety of opportunities to the world and Blockchain is no different. Experts believe that Blockchain is still in the early stages of its development and they are trying to figure out how to make this technology work. Lately, Blockchain has been making news all across the world. With this technology there are three ways that users can take advantage of this new concept.

Cryptocurrency Speculation

The use of digital currency has steadily been increasing in all corners of the globe. The technology behind these digital currencies is Blockchain. Bitcoin is one of the most popular cryptocurrencies available in the market and has been around since July of 2009. Over the years, the rise of Bitcoin has increased and now it is being accepted as a mode of payment by many popular businesses around the globe. The value of Bitcoin has increased considerably in just the last few years, last year it broke all previous records. Bitcoin is not the only cryptocurrency that is based on Blockchain, there are other currencies such as Ripple, Ethereum, Litecoin and many more that use this cutting edge technology.

Digital currency speculation is all about selling, buying, and saving the digital currency to make a profit. This is not particular to any cryptocurrencies. All digital and conventional currencies can and are, speculated upon. With the volatile nature of the digital currency market, there are lots of risks and opportunities for digital currency users to take advantage of all over the world.

Blockchain Company or Applications

As more digital currencies have started to get noticed, the research community is seeing a huge potential in it. The latest Ethereum project is based on Blockchain technology. It has its own coin named Ether, but its main strength is “smart contracts”. With these smart contracts, two parties can execute legal contracts using digital codes. This new concept will change the way business is conducted all over the globe.

There are many other digital opportunities that utilize Blockchain technology. BitClave is a decentralized search engine that is connecting businesses and consumers from around the world, directly. This new search engine is eliminating all intermediaries like Yahoo, Google, and Bing. Not many users know that the previously mentioned search engines track consumer information, this is what sets Bitclave above the rest. BitClave only reveals information on the need to know basis. Data is stored on the BitClave Blockchain.

Nasdaq is now planning to build a blockchain based voting system for all electronic shareholders. Similar voting systems can also be used for government elections in the future. Real estate, identity, and mortgage documentation are all moving towards Blockchain. Firms and businesses with copyrighted materials such as books, videos, and music, are looking at the Blockchain technology to protect piracy issues.

Providing Services for Blockchain

If creating a new Blockchain business or speculation is not your thing, you can still find something of use in the blockchain industry. With a growing demand for blockchain based startups, the need for people with Blockchain skills is always rising. It’s more than programming. Individuals or digital enthusiasts can invest money and time to understand the Blockchain technology. Apart from that, you can also start making money by providing services to many such companies using this technology.

Blockchain technology is the new frontier. It’s the next big thing with huge possibilities. For adventurous souls, there is always an opportunity with Blockchain. The Blockchain ecosystem is complex and if you plan on investing in this technology, you will need to invest some time into learning the ins and outs of this digital technology.

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