Using Blockchain Technology to Grow Your Business

 

It has been simply impossible to ignore the popularity of cryptocurrency and the growth in adoption of blockchain technology in the last 12-18 month especially. As a business owner, you may be curious as to how adopting blockchain technology could help your business and moreover, how you could go about incorporating the blockchain into your business. The barriers to entry are not as high as you may have imagined. Here we will look at the three most popular ways to bring your business on to the blockchain.

Run an ICO

Rinning an ICO (Initial Coin Offering) has never been more popular. Already this year has seen over 500 ICOs launched which have generated over $11 billion for the companies involved. This is your ticket to getting your company on the blockchain but it isn’t all sunshine and rainbows. Many ICOs actually fail to reach their targets for a number of reasons. Also, it is not cheap. The costs of running an ICO are rising in tandem with the popularity and can end up in the hundreds of thousands of dollars range.

Start Your Own Blockchain

Why be a participant in the game when you can run your own. There are hundreds if not thousands of blockchains out there, hosting applications and providing frameworks for meaningful accomplishments, each one claiming to be better than the next. Starting your own blockchain is relatively easy as this guide shows. Marketing it to achieve enough attention, respect, and a user base however may not be so.

Coordinate with an Existing Platform

There are a variety of platforms out there which will take care of all of the difficult work involved in launching a blockchain based project so you don’t have to. This includes creation of smart contracts, issuance of tokens, and marketing. Some of these platforms are even free (commission based) such as BrightCoin which is worth checking out.

Conclusion

Launching or becoming involved with a blockchain based project is not as difficult as you may first think. It can be financially costly and time consuming with the possibility of failure, but then again, so can any business venture.