Blockchain Business Guide

Blockchain is just technology, adhering to the same principles as other industry businesses.Blockchain entrepreneurship requires outstanding people, requires strong execution and creates real value.

Looking around, everything we live in was once the dream of entrepreneurs. From inventions to ubiquitous roads, from subsistence farming to trade expansion to global boundaries, from the edge of survival to a rich world, they are the result of a diversified organization.

It is very difficult to start a company, and most startups will fail. Current entrepreneurs are providing innovative solutions to the most pressing issues in society. They are ambitious and persistent, offering new ideas for large-scale change. Blockchain entrepreneurship undoubtedly has the attributes of social innovation, affecting the wider society with one or more new (or old) technologies.

When you start a blockchain business, you have to have a good idea to get started. There are three things in starting a business: finding directions, finding people, and finding money to solve problems constantly.

First of all, we must recognize the blockchain industry situation. At present, all major global technology giants are very serious about blockchain technology, and many traditional industries have already tried blockchain in their non-core businesses. For the Internet giant to explore on non-core businesses and scenarios, it is difficult to go all out and leave some opportunities for entrepreneurs.

The current blockchain entrepreneurship has the following directions:

Hardware

Mining machine and mining

The early miners earned a lot of money, not because it was a profitable job, but because the price of the currency rose.

Lower energy-consuming mining equipment and more energy-efficient mining methods are a good breakthrough. If you have this technical strength, you should pay attention to the existing routers, NSA equipment and various so-called shared boxes.

Hard wallet

A few days ago, I got a hard wallet, including financial-grade security chip, fingerprint instant unlock, Bluetooth high-speed connection, ultimate smooth touch screen, soft and hard wallet hierarchical management, HD mnemonic backup, transaction side secondary confirmation, anti-side channel attack and so on.

If I have a hundred bitcoins, I will definitely buy a good one, but I don’t. There are 14,352 wallet addresses with more than 100 bitcoins and 650,539 accounts with more than one bitcoin. Most of the customers of hard wallets are distributed among 650,000 people on six continents (assuming one person only have one account). At present, this business is struggling.

Blockchain mobile phone

This is a gimmick. Whether it is known as mobile phone mining or configuration of encryption chip integrated U shield technology, the introduction of blockchain mobile phones is mostly for hype.

Service

Platform: Blockchain Media

Financial media is easy to get started with just a set of WordPress programs. It’s just that the bear market is long, and there are very few projects that are willing to pay for it. The big companies try blockchain technology and don’t need to publish the press release in the blockchain media. Hundreds of blockchain media, dozens of companies are still struggling to update.

Platform: Exchange

The exchange is what we usually say by making money by “selling water”. Whether you make money or not through investing in blockchain or virtual currency, the exchange is making money. Many people think that if you go to get a foundation license, hire a few technicians, artists and customer service, then organize a small team to promote the community, and do some coin-send activities, and finally you can start a lot of exchanges to make a lot of money.

The biggest challenge for the exchange is security. Almost no exchange in the world that has been in operation for more than a year has lost cryptocurrency. This currency is basically not affordable for ordinary people. So don’t envy the Binance and Huobi exchanges. There are a lot of transactions, and now there are a total of 426 in size.

Training institution

Now it is still buying blockchain to promote rankings, basically training institutions and technical service providers. In which industry the training institutions can earn money, training in just one or two months with rapid growth to meet the psychology of some people who are eager to achieve.

The world has seen a surge in demand for blockchain and cryptocurrency people. The blockchain will be a long-term technical practice and will undoubtedly be a skill to find a job. The latest developments in the blockchain are actually in Github, business people look at the white paper, and the technicians are directly coding.

Technical service provider

The blockchain technology providers that serve traditional large enterprises have Microsoft, IBM, Amazon and Alibaba. The entrepreneurial customers should directly face small and medium-sized (traditional) enterprise users or undertake government projects.

When the Internet was born, Ma Yun made a Chinese yellow page and made a website (display page) for each company. This is the model.

Blockchain services come in two directions, one is BaTS focused on technology and the other is BaaS public chain service. For example, if a merchant wants to support Bitcoin and Ethereum to pay, how to build a server wallet? Merchants need to study the deployment and optimization of public chain wallets, which requires technical configuration. There are more such needs, such as light wallets, offline payments, public-chain application development, public-chain full-node instances, and more. Of course, the customers who are sure to receive at the beginning of the business are mostly to open exchanges and release altcoins.

Blockchain application layer

The project that wants to make a DApp is actually just a new entry for traffic, just to support their games, shopping and search.

There are many gambling DApps, but no one knows how many real participants there are.

There are some blockchain games. They are beautifully designed, but they are difficult to use and difficult to play.

There are some blockchain traceability, copyright, deposit, logistics, and taxation are all played internally. Only partial problems can be solved, which can have a certain effect on enterprises and industries, but it is impossible to determine whether they can obtain market recognition and obtain profits.

There are also some blockchain network disks for long-term storage of personal data. Core competition is operational efficiency.

The direction of entrepreneurship is to discover and create demand. This is much more difficult than solving the problem. It is difficult to do what others have not done, what others have not thought of. Don’t despise imitation, those great companies are also improvements based on others.

Other

Private placement

Private placement is illegal in many countries. The altcoin was once envied by many people. Because you only need to write a fake white paper, then study a set of templates, you can make altcoin in a few days. Finally, you need to look for friends to advertise. There is no technical barrier to this matter. Unless the altcoin is displayed on a big exchange, no one will pay. The cost of displaying on a big exchange is millions or more. Even if someone pays the bill, there is no exit mechanism without an exchange. Ordinary people want to send altcoin is not so simple, in addition to strong contacts, courage, still with tens of millions of financial support. The telegram group of the blockchain project has already had BOT advertisements, and there are few active people.

Blockchain + Internet of Things

One of most important goals of the Internet of Things is to track and validate components within an organization. The immutable nature of the blockchain makes these records more reliable. High-level coordination and physical-to-machine communication, smart contract is a very suitable supervisory collaboration tool. Blockchain technology may be a key part of smaller machines for data exchange and trust.

Blockchain applications are very broad. Any industry and any business seems to be able to find its own application direction. However, the current blockchain technology is used to solve specific problems, and most of them have no successful cases. Subject to factors such as technology, quality of service, experience and regulation, blockchains are unlikely to become a common infrastructure in the short term.

These entrepreneurial directions seem easy, but in reality there are certain thresholds. Entrepreneurship is a business. The blockchain incentive system is very close to money, and the blockchain technology is far from the money,emphasizing the short-term benefits of entrepreneurship, but also thinking about the long-term, steady progress. No business succeeded overnight, and after a madness, only a few survived.

Blockchain is just technology, adhering to the same principles as other industry businesses.Blockchain entrepreneurship requires outstanding people, requires strong execution and creates real value.

(The above content is only the author’s personal opinion, does not constitute a real entrepreneurial, investment direction and opinion reference)

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