Tag Archives: blockchain development

10 Great Ideas for Generating Useful Blockchain Projects

The field of blockchain development has been evolving at a sky-rocketing speed that has been drastically increasing the demand for blockchain developers and software engineers, and the need for diverse kinds of blockchain development projects. Projects stem from ideas.

Great ideas have been at the foundation of blockchain’s success in revolutionizing the way people interact with data, track data, and store data in the form of blocks under a decentralized and distributed system that is highly reliable and enables people to interact directly with data in real-time, without the need for mediators or middlemen.

An idea can serve as a template that can be tailored in one or more ways to create what is most suitable, depending on the need of the hour. If you arrived at this post looking for ideas that can inspire you to generate beneficial blockchain projects, then look no further because you’ve come to the right place that would shed enough light on a wide range of ideas that can inspire you to generate beneficial blockchain projects for the real world. Here is a list of interesting ideas that can be implemented as blockchain projects:

1. Decentralized web hosting systems

The present-day web hosting system hosts all types of web code, content (including textual), and media content mainly on a centralized location that can be accessed on the Internet from anywhere in the world.

But imagine the handicap a user would fall into if the centralized location decides to take down the server because of planned server maintenance, or when the server is overloaded. With the decentralization that blockchain brings, a decentralized web hosting system can be created to address this problem.

With blockchain, websites won’t necessarily require central servers, as the blockchain can help divide website content into granules, circulate the content around the internet, and also use a blockchain registry to link them together.

2. Blockchain-based document storage systems and exact shipment location data

First, blockchain can help build secure and easy-to-access document storage systems where people can store documents and licenses that are very important and may be required at any point in time.

Implementing such a system would ensure fast, convenient, paperless, and secure transactions, accessible to users and corporations, governments, or any system. The idea behind this system works accordingly: a user uploads their documents to the blockchain system and corporations, governments, or any system, and gains permission from users before accessing users’ documents on the blockchain and using them.

Second, blockchain can help solve problems due to inadequate or inaccurate exact shipment location data. Presently, most logistics companies offer only main location details such as names of city hubs, collection centers, and sporting facilities.

In most cases, the exact shipment or live location details are unknown and remain unknown. Everything becomes worse when a system failure occurs or a lot of data gets missing.

Good ideas backed by a formidable blockchain can implement a system that solves this problem by gathering more precise/exact location data from various interconnected systems and providing precise/exact location details to customers.

Projects that are founded on this idea can be applied to the airline industry to find lost baggage, and the car rental industry to track rented cars.

3. Peer-to-peer cab and ridesharing facilities

Many radio cab facilities and carpooling systems are associated with middlemen who represent agencies. With blockchain in the equation, middlemen are removed; in cases where major agencies (like Uber) shut down, businesses can still go on without any intermediary. An idea built on a strong blockchain project would make it possible for drivers and riders to link, do business, and build and engage in reliable transportation services.

4. Renting unused disk space 

The idea of renting unused disk space in a blockchain and peer-to-peer network is attractive because it would be completely decentralized and allow anybody from any part of the world on the network to rent out their unused disk space which can be linked with others to form a massive worldwide cloud, globally, and still inspire further evolution of today’s cloud storage.

5. KYC (know your customer/client) verification

KYC verification is important for updating data, people’s information, and verifying their identity. It is increasingly being used by new start-ups and, if implemented with blockchain, would enable the easy and secure transfer of KYC verification stamp/data from one place, person, or entity, to another.

One instance of how this idea can be implemented: a user or customer uploads their KYC data to a blockchain; a bank or institution can access KYC data from the blockchain without using any intermediaries; then other entities or organizations can verify the KYC performed by the bank or institutions.

6. Identify fake products by using the barcode scanning system

In today’s world where fake manufacturers abound and popular brands sell counterfeit items at cheaper rates, not everyone and every company expert is still capable of distinguishing between real items and fake ones.

But with 2D barcodes embedded on products made by the original manufacturer and linked with a blockchain system, the picture would look completely different: with a smartphone, anybody can scan a 2D barcode and their smartphone will instantly inform them about whether a product is fake or not.

7. Widen/diversify the use of loyalty points

The drawback of most brands and companies is that they reward customers with only their own loyalty points. This makes it impossible for some deserving customers to use their loyalty points on other platforms, with other brands or companies, or exchange them with family or friends.

However, with blockchain, it’s possible to create a decentralized network involving different platforms and permitting the use and exchange of loyalty rewards outside of their current individual domains.

8. Detect transparency and genuine charities

Although some people have always been interested in giving help back to the community via charities, others are discouraged because of fear that their donations could get diverted or may not be used for the intended purpose.

Some people are interested in helping the poor and defenseless in society, but are not sure whether their donations will reach the right people. Many fake organizations pose as real ones and deceive people in the name of charity. 

All things being equal, blockchain can end this problem with a system that permits poor/needy people to upload a dashboard or portal connected to a blockchain system and allow each individual (needy person) in the community to access their respective data from the blockchain in a direct, easy, safe, and secure manner, thus ensuring transparency and genuineness in transactions.

9. Smart contracts for implementing trustworthy crowdfunding platforms

Presently, many crowdfunding platforms have trust and accountability issues; in fact, reliable sources state that 85% of start-ups experience delays over deliveries and 14% don’t even deliver anything promised to angel investors. In many other cases, investors either misuse their money or invest it in the wrong campaigns.

By bringing blockchain into the equation and a smart contract to help manage and block funds until a desired time, crowdfunding platforms can become more accountable, less wasteful, and precisely show investors where their money is going, what they are spending it on, and how they are spending it.

10. Blockchain-based systems

  • Blockchain-based voting system: Even after replacing paper-based voting systems with electronic voting systems, people still have doubt about the present-day’s voting system and its ability to protect data and prevent it from being altered. Blockchain can make a difference by allowing voting through mobile apps linked to a blockchain system, public verification of election results in each country, and ensuring transparency, preventing manipulation of results by agencies, entities, or even governments.
  • Blockchain-based land/property registering system: On a consistent basis, many documents on property or land are being falsely claimed by people, fraudulently acquired, and lost. Blockchain’s underlying technology could help solve these and related issues, maintain records of transactions, and subsequently store processed data in a system that prevents data manipulation and guarantees enhanced immutability.
  • Blockchain-based trackback food system: Nowadays, how many people are actually sure that they are purchasing organic food?  How many are aware when a bird-flu outbreak occurs in poultry farms? With blockchain technology, a system can be implemented to help consumers to trackback or trace the origin of food or meat products, thereby raising the trust level of consumers.
  • Blockchain-based patient data management system: Much of the stored data in centralized healthcare systems needs more privacy and safety, and the trust of patients whose information is stored on them. A stronger system implemented built on the blockchain would ensure that when a user’s health information is stored as a smart contract on the blockchain, only that user would be able to give permission for their information to become accessible under certain permissions that ensure and maintain the security of their data. Anybody would need to get permission to access data. This would help preserve the privacy of patients’ data.

Tips on Whether to Implement Blockchain Development

There seems to be no end in sight for blockchain development which has been continuously on the rise. The technology that drives blockchain has succeeded in disrupting the traditional financial sector, with countless banks and financial institutions leveraging it to eliminate middlemen, improve visibility, provide strong security for transactions, and help developers and businesses to streamline their operations.

But blockchain development is not only restricted to the confines of the financial sector: it also holds sway in the retail, tourism, manufacturing, automobile, pharmaceutical, and healthcare sectors, and many other sectors or industries that employ the talents of blockchain developers and invest in blockchain to reap great benefits.

Who is a blockchain developer?

Simply put, a blockchain developer is any person, entity, or organization that has the knowledge or skill, and license to develop blockchains. There are mainly two types of blockchain developers: blockchain software developers and core blockchain developers.

The responsibility of core blockchain developers is to construct the architecture of a proposed blockchain system, including high-level finalities like the design of the consensus protocol and blockchain, and handling security conventions. 

On the other hand, the responsibility of blockchain software developers (also known as “decentralized application developers”) is mainly to develop or create blockchain applications and build decentralized apps (dApps).

For developers to succeed in blockchain development, they need to understand the basics and essentials of writing software applications, and how different blockchain consensuses, secured computing networks, smart contracts, and data storage systems interact with each other on a decentralized platform.

Meaning of “blockchain development”

Blockchain development is a set of procedures or operations used to create unalterable or immutable and shared distributed ledger technology (DLT) that can track data and assets (physical, nonphysical, etc.) and ensure adequate security for transactions and records in a network.

The accelerating pace of blockchain development is crucial to the success of various industries because of how securely, faster, and accurately it consistently facilitates and enables the exchange of information between individuals or entities.

More inventions in blockchain development still have the potential to elevate today’s level of production, state of tracking orders, and types of accounts, payments, and data within a blockchain network for registered members.

Tips on Whether to Implement Blockchain Development

Although blockchain development has many benefits, it is important to understand the right time to invest in and implement it for any platform or in any business or organization.

One would have to only ask themself a few critical questions before arriving at a good decision. The following questions are worthy of consideration when deciding whether to implement blockchain development or develop blockchain applications for one or more platforms or businesses:

1. Do you need to frequently share and update increasing amounts of data?

Sharing and updating data can become a problem, especially when traditional/paper-based and time-consuming methods are being used. Blockchain development can reduce time wasted by the time-consuming processes which are mostly associated with manual, traditional, or paper-based data maintenance.

People whose business or organization depends a lot on ever-changing and historical-based types of data may need a blockchain solution that prevents data modification, allows permitted members to make multiple data entries, and automates the whole process without a care in the world.

2. Do you need a secure location to store data?

If you need a location for information/data which you think is too much, specific, or sensitive, then it may be high time for you to join the blockchain development bandwagon—implement blockchain! But before that, you have to evaluate the amount of data that needs to be stored in any potential location.

For instance, if you are running a small business that doesn’t have or generate too much data beyond a certain amount, it may be wasteful to implement blockchain development because you can actually manage such quantity of data by just storing it locally. On the other hand, large-scale enterprise operations would definitely have to implement blockchain development to cater for access to registered users, mass data storage, maintenance of different databases, and updating of the distributed ledger, amongst other things.

3. Do you need authorization from an intermediary or third party?

Implementing blockchain development won’t be particularly useful to any person, business, or organization that needs a third party for data control, validation, or authentication. On the other hand, people, businesses, or organizations have much to derive from blockchain development if they wish to operate without a third party or middleman, which increases costs and delays transactions.

4. Does your business or system suffer from fatigue due to slow transactional speeds?

If slow transactions of any kind are impairing your business, then it’s high time to implement blockchain development and eliminate the barriers that are hampering or slowing down some of your workflows. But, it’s important to note that while implementing blockchain development can eliminate sluggishness, it isn’t usually capable of adequately doing so without an accelerator.

11 Major Types of Blockchain Development Services

The importance of blockchain development services has been grabbing the attention of different organizations, sectors, governments, and people who envision more potential applications of the technology in many areas in the future.

Over the past decade and presently, blockchain development services have been making a great impact on job creation, creating countless new job positions and start-ups. Depending on what needs to be achieved, there are a variety of blockchain development services that can be used to produce and run a production-ready or prototype platform that can help anyone reap immense benefits from blockchain.

Meaning of “blockchain development services”

Blockchain development services are services, mainly technologies, used to create decentralized blockchain networks that are capable of securing countless data and transactions, and providing enhanced traceability.

Many reliable blockchain development companies offer a wide range of blockchain development services for cryptocurrency development and creation of trading apps, crypto exchanges, crypto wallets, trading apps, etc.

11 Types of Blockchain Development Services

Generally, the major blockchain development services include but may not be limited to the following:

1. Creation of newly developed blockchain solutions and revamping or customization of existing blockchain solutions by employing different system implementations, integrations, and modifications. Services are used to create blockchain security softwares, public & private blockchains, and decentralized applications (dApps) that make it possible for businesses to derive the best from blockchain technology.

Blockchain technology platforms and integrations help businesses by leveraging third-party blockchain platform APIs to invent more customized approaches that can offer enhanced flexibility, scalability, and security.

2. Development of custom applications (a.k.a. “blockchain application development services”) and integration of custom blockchain applications into systems to help scale businesses under a safe and highly secure technological environment designed to strengthen security, reduce and eliminate expensive fees, avoid fraud, reduce loses, and support different types of plug-ins.

3. Design and creation of Blockchain-as-a-Service (BaaS) solutions that can be used in place of time-consuming and error-prone processes and integration of ASIC (Application-Specific Integrated Circuit) chips within cryptocurrency mining softwares to increase transactions/transaction verifications. ASIC chips can be used to create miner performance dashboards and provide architecture solutions for certain issues that are facing mining farms.

4. Development of blockchain wallet and exchange software (for token issuers, brokers, dealers, asset holders/managers, exchange operators, etc.) and integration of features for trading multiple cryptocurrencies and blockchain tokens, auto-generating public and private keys, and taking part in digital security offerings (DSO), security token offerings (STO), and initial coin offerings (ICO).

5. Design and development of blockchain smart contracts and custom blockchain solutions: development of blockchain smart contracts provide decentralized web solutions for activities in e-commerce, real estate, finance, and gaming markets for creating letters of credit, validating insurance eligibility, and registering intellectual properties and loan requests:

  • Development of custom blockchain supply chain solutions to help control expenses, enhance security, and warn of any flaws or inefficiencies by employing counterfeit detection softwares, logistics tracking and digital certification, and document automation and digitization.
  • Development of custom blockchain retail and e-commerce solutions to help secure payments, execute transactions, provide a means for retailers to authenticate their products, and enhance the capabilities of their data.
  • Development of custom blockchain healthcare solutions to help systems be HIPAA compliant and protect sensitive information on patients which is used for patient health data exchange and clinical trial management, thereby enhancing or maintaining the quality of healthcare.
  • Development of custom blockchain real estate solutions for individuals (buyers, sellers, contractors, clients, etc.) who are in the real estate industry: solutions offer enhanced market data encryption, liquid asset implementation schemes, and automation processes for ownership verification to accelerate and track property sales.
  • Development of custom blockchain gaming solutions that are cryptographically programmed to heighten the level of security and protect systems from failure, cheating, and attack, and help to verify tokens, tokenized assets, secure digital items, and in-game history, thereby making it possible for players to freely trade, buy, or sell assets.

6. Creation of custom NFT marketplaces by designing and developing services that enable digital assets to be minted to NFTs and auctioned or sold to other people in NFT marketplaces which can also be created or developed by using OpenSea SDK. It’s unnecessary to use a smart contract if OpenSea SDK is available.

7. Development of cryptocurrency applications tailored to specific needs, including cryptocurrency coin development, crypto wallet development, Bitcoin software development, ERC20 token development, trading apps and cryptocurrency exchange development, and integrations that enable exchanges between fiat currencies and cryptocurrencies.

8. Development of DeFis (decentralized finances) and DEXs (decentralized exchanges) helps to create peer-to-peer platforms where cryptocurrency traders can control their funds and make transactions without using a custodian or intermediary. The transactions are executed with the aid of smart contracts which are coded self-executing agreements. Today’s decentralized finance (DeFi) space is very attractive because of the innovations that have solved liquidity-related problems and greatly contributed to its growth.

9. Development of crypto contracts for game assets, collections assets, tokenizing of arts, including formulation of token contracts and integration with very feasible platforms like OpenSea.

10. Creation of banking, bank-related, and FinTech software and decentralized FinTech applications that allow uninterrupted cross-border payments, make faster payment, enable proper data management, and cut down transaction costs in ways that attract and improve user adoption.

11. Improvement of digital identity and for KYC (know-your-customer) purposes: services help in the field of identity management and enable users to register on a network, choose how to identify themselves, and choose whom they wish to share their identity with; in addition, it enables organizations and individuals to fulfil KYC (know-your-customer) requirements to achieve great goals, while maintaining customer privacy.