Originally this post was going to be called “7 Cryptocurrency Business Ideas That Should Be Invented.”
But after I wrote down my ideas, I did some research and discovered… most of my ideas had already been done in some form. To which I responded… brilliant! That’s great. I love it.
There are some world-rocking things happening in the crypto space. Here are a few of them. Maybe you’ll get some ideas for your own business.
Also, please comment more great ideas that are being (or should be) created in the cryptocurrency/Blockchain sphere. I want to hear about them.
1. Bitcoin grocery store. This one’s my favorite. We need more places that allow us to use our cryptocurrencies in everyday life. We can currently use Wirex and Xapo cards to spend our BTC in fiat form, but how about setting up our business to accept the cryptos of our choice directly? This could be as simple as placing a “We Accept Bitcoin” sign in the window and placing a Bitcoin address QR code at the checkout counter.
That’s kind of what Five Markets did in San Francisco.
Back in 2014 they started using a service called Revel to begin accepting bitcoin at their grocery store.
Apparently, Revel is a Point Of Sale software that synced its services with Coinbase.
When a customer wanted to pay in BTC, the teller at Five Markets would select that payment option on her computer. The monitor would display the QR code, which the customer would simply scan using the their smartphone camera and the Coinbase app.
The appropriate amount would be deducted from the customer’s account, and both parties received a confirmation email of the transaction.
Much faster and simpler than the old-fashioned credit card method.
However, I talked to a rep briefly at Revel and he told me that they no longer integrate with BTC. He wasn’t sure why.
Unfortunate. BUT it proves that it’s more than doable. They integrated the Bitcoin payment thing into their POS platform in only a month.
Also, they originally integrated it because several grocery stores who used them were requesting that they do so. That was back in 2014. The market is even riper now.
The more places we can spend bitcoin in our everyday transactions, the faster it’s likely to be adopted. And once you go crypto you never go back.
2. Cryptocurrency Crowdfunding. Sites like Kickstarter or Indiegogo, but with cryptocurrency.
StartJoin is one that is currently active. It has its own currency, “StartCOIN,” which people can buy and use to support projects that are posted on the site.
There’s also a new site being created now called FundYourselfNow. It looks like it’s going to be way more sophisticated than previous crypto crowdfunding sites and has a lot of talent backing it.
People will be able to fund inventions, innovative business ventures, films, everything you can fund on Kickstarter and more.
Project helpers will be rewarded with “bounty credits,” which can be exchanged for “project tokens.” The platform will allow users to trade Item Tokens/Rewards that have been created during the funding process. The token rewards will be cash convertible as well.
It’s being built over an Ethereum platform and will use smart contracts to “hold the virtual currency collected and perform the disbursement of the collected money and project tokens automatically.” Apparently they’re preparing to introduce Bitcoin support on the platform as well.
It’s set to launch in the first quarter of 2018.
It’ll be interesting to see how well it does. I’m watching this one for sure.
3. Blockchain-based gaming sites. There’s a huge gaming market. Yuge. How much more fanatical would hardcore gamers be if they could get paid for playing computer games in their parent’s basements? Enter Blockchain Games!
There are several online games that are built on a Blockchain and allow you to earn tradeable currency. One example is Spells of Genesis, which has an in-game currency called BitCrystals. BitCrystals can be traded on Bittrex and Shapeshift.
I don’t know how much a person can earn on these games, but wouldn’t it be cool if someone made a game that you could make a living playing? It would help the parents of lazy bum gamers get their thirty year-old kids out of their basements.
4. Gym memberships. I was sure this one would be original. But nope, someone is doing this. An entire Russian gym chain in fact.
NanoFitness now accepts Bitcoin as payment for your monthly gym membership. They openly display their BTC address on the counter at each of their locations, as shown in the shot below.
The company’s staff are already trained in helping customers learn how to use Bitcoin.
Here’s an idea for them, for customers who might want to pay on a per-use basis: You scan the QR code at the door of the gym, and the door unlocks automatically when you send the right amount of your chosen cryptocurrency to the address at the door. This way you have the option of paying only when you use the gym, rather than a monthly membership fee.
This could really be used at almost any place of business that charges an admission fee. Theaters, public transportation, etc.
5. Crypto tipping. This is the only idea here that isn’t really being done (that I know of). It would look like a bitcoin address QR code that can be stuck to the back of an Uber driver’s seat, set on a restaurant table, or anywhere it’s customary to give tips. Use your smartphone to scan and tip in BTC or whatever type of crypto address your waiter or driver has.
6. Bitcoin lottery. Yep. LottoPark lets you buy your tickets in BTC, and will even pay you your winnings in the stuff if you wish.
And now, a new lottery called TrueFlip takes blockchain lottery to a whole new level...
7. Peer-to-peer bike renting. This is really an awesome idea. BitBike.me is launching next spring.
How it will work: download the app, put some BTC or other crypto in it, browse and select bikes, go meet the owner, scan his QR code and take off with his bike.
They’re taking votes on their site now for the first five cities they should market their app in.
This simple process could really be applied to anything rentable.
These seven are barely scratching the surface of the universe of potential that Blockchain technology has to disturb the matrix. These are just a few tiny things, but it starts small. The small ideas will gain traction and lay the tested foundation for bigger, even more amazing things. Who even knows.
Some people say the Blockchain shift is part of a Bloodless Revolution. At the very least it's becoming a part of humanity's Evolution.
Regardless of how far this goes, I’m really excited by these innovations. I look forward to using them. A lot.
So. What existing Blockchain innovations did I miss in this list (aside from DTube and Viewly)? What are some ideas that you have?
Go ahead and include your thoughts in the comments.