Top 7 Blockchain App Ideas to Boost Business Growth in 2022/2023 are discussed in this write-up. Many businesses across the globe are rooting for blockchain as it has the potential to transform the market by making the current business models more secure, transparent, and reliable.
However, based on the research, there are over 37,000 daily active blockchain app users. And, there are over 2600 blockchain apps that are currently active in the market.
Top 7 Blockchain App Ideas to Boost Business Growth
Blockchain technology is very beneficial for individuals, startups, or even established firms. However, it is important for entrepreneurs to make use of the new Blockchain app ideas to escalate their business. Furthermore, one of the major qualities of Blockchain technology is that it can be used in any industry, irrespective of its size. Before going into the crux of blockchain app ideas, you need to understand the basics of the technology.
What Is Blockchain technology known for?
Blockchain technology is known for its important role in Bitcoin as it has the ability to maintain a decentralized transaction record. And in Blockchain, the data is saved in small blocks in a digital format and spread among nodes of a computer network. The interesting part of blockchain technology is that it makes sure there’s high security and transparency and generates trust among the users. Thus, the data records remain secure as there is no need for any third-party inclusion.
Trending Blockchain App Ideas For 2022
Here is a list of app ideas that can be used in different sectors and integrated by businesses easily;
The Power Blockchain App
Blockchain technology can assist in reducing bills, monitoring overall power usage, and saving a lot of money. Not only that but Blockchain is used in the quick switching of suppliers as well. One of the Blockchain app ideas is to use it in solar power trading. However, solar panels are fitted, which soak up the energy from the sun and then use it as a form of electricity.
Benefits of Power blockchain
Here are some benefits of the power of Blockchain app ideas:
- It is used in regulatory reporting and compliance.
- The apps will help end-to-end processes and would help the energy sector companies to enhance their horizon.
- Due to digital ledger technology, all the data would be real-time, reliable, and safe.
- Blockchain-based energy apps have the potential to improve the efficiency of the energy sector.
Leading blockchain startups disrupting the energy space include MotionWerk, Lightency, FlexiDAO.
Digital identity App
The details about someone or data that is a built-in digital form on a computer system is digital identity. Online identity is the simplest and fastest way to prove one’s existence without bringing in the original documents.
Further, with Blockchain, the digital identity becomes more secure, unified, interpretable, and a tamper-proof infrastructure. And this Blockchain app is beneficial to business enterprises, IoT management systems, and, of course, end-users.
Benefits of Digital Identity App
Here are some of the most emphatic benefits of this Blockchain app:
- It comes with the ease of having duplicate ID proof.
- There’s decentralized web identity management.
- It offers a self-sovereign identity and a non-custodial logic solution.
The leading digital identity apps are Civic, uPort, and Bitnation.
Decentralized blockchain-based App
The decentralized apps in the Blockchain domain operate on a business-to-business network. Thus, the majority of the emerging fields like cryptocurrency wallets and mining services are operating in this field.
Benefits of Blockchain-Based Decentralized App
Here are the benefits of blockchain-based decentralized apps (DApp):
- The transaction procedure is immutable and transparent. Moreover, users can easily trust the data that is available.
- It’s not easy to hack or steal data from a decentralized system.
- As the info/data is stored in small packages, there is no single point of failure in the system. So, these Blockchain app idea-based apps are resilient to attacks The entire operation of app development is cost-effective, and there is no need for a third party.
Leading examples of decentralized apps include Zeus Exchange, Cryptokami, Cognida, Cryptyk, and more.
Transportation and Logistics: Blockchain-based App
Whether it is order tracking, authentication, or transition, this blockchain provides superlative solutions in transportation and logistics. However, the Blockchain app idea is instrumental in simplifying the tracking of components that are used in trucks and other vehicles.
Furthermore, the new blockchain-based transportation and logistics apps will be more efficient in data management. It would have a decentralized digital ledger that would contain information about logistics and be updated in real-time.
Benefits of Transportation and Logistics App
The benefits of this Blockchain app idea in transportation and logistics are as follows;
- It helps to reduce transportation costs and makes document coordination streamlined.
- Its data is authenticated, secured, and updated in real time.
- The app enables refrigerated containers and takes care of sensitive pharmaceuticals.
- There’s an easy approval and clearance process.
IBM, Samsung, Maersk, and more are the world’s leading supply chain management apps that have applied the Blockchain app and transformed their entire system.
The Government Voting App
Blockchain-based government voting apps are auditable and immutable, which means they can keep the data secure. Therefore, this will help in improving the transparency of the entire voting process and make it more trustable. Moreover, with improved transparency, the voters and the citizens too would have greater trust in the government’s process.
Government Voting Apps Benefits
The benefits of Blockchain-based government voting apps include:
- The apps would provide proper data integration.
- Voting apps would become more auditable and immutable.
- Users of this app would be able to trust the anonymous ballots as the entire system becomes tamper-proof.
- The whole system is devoid of any kind of manipulation and thus renders better data integration.
Examples of government apps are Voatz, Follow My Vote, and more.
Blockchain-based personal finance management App
The personal finance management app powered by Blockchain is one of the best Blockchain app ideas that will help to enhance your money management system. However, whether it is a startup enterprise or an individual, personal finance management apps are superlative and would assist you in making more informed decisions.
Furthermore, with Blockchain technology, it will become easier for these apps to form an easy connection with banks and other accounts. And users can easily categorize their income and expenses on a real-time basis.
Benefits of Personal Finance Management App
Here are the benefits of the Blockchain-based personal finance management app:
- The app reduces counterparty risks and enhances the overall security of the data.
- It offers better capital optimization for the users and instant settlement.
- It reduces reconciliations and error handling.
- There’s improved traceability and transparency.
Leading blockchain-based personal finance apps include Mint and Albertan.
The Stock Market Application
Blockchain-based apps can completely change the way they function, thereby making them more transparent, secure, and authentic. However, via this Blockchain app idea, business organizations can issue, trade, and issue shares directly to the shareholders.
Benefits of the Stock Market App
Here are the benefits of a Blockchain-based stock market application:
- The app enhances the overall mechanism and improves trust and interoperability.
- It offers automated post-trade events that reduce the chances of any loopholes or manipulation.
- There’s better fairness and transparency.
- The clearing and settlement process is fast.
- It comes with a mechanism for risk containment.
Leading blockchain-based apps for the stock market include Gemini and Coinbase.
What are the five future blockchain applications?
Blockchain technology’s real-world use Technology like faster cross-border payments, identity management, smart contracts, cryptocurrencies, and supply chain –
How can blockchain improve the business?
Blockchain has the ability to streamline trade finance deals and simplify the process across borders. However, it enables enterprises to easily transact with each other beyond regional or geographic boundaries.
What kinds of apps can you build with blockchain?
The top blockchain applications are
- Money Transfer
- Smart contracts
- The Internet of Things (IoT)
- Personal identity security.
- Non-fungible tokens (NFTs)
What are the best blockchain projects?
Advanced Blockchain Projects include;
- Blockchain Wallet
- Digital Asset Marketplace (DAM)
- Peer to Peer Carpooling
- Skill Verification System
- Fake Product Identification System.
What are the top 5 blockchains?
The Top 5 Blockchain Platforms are as follows:
- Azure Blockchain Workbench.
- IBM Blockchain Platform.