Building businesses on top of a Blockchain
Today it had become a lot easier to build our business on top of a blockchain or a token from a blockchain. This idea is something that is slowly emerging. This is not up to speed yet but this is something that can son become the best use case for blockchain in the real world. People who have a business idea can make use of the blockchain by introducing a token and creating tokenomics on top of it.
The business can be anything actually. It can either be a small project that needs investment from others or it can even be a big ever-growing gaming project as well. The idea is what matters and the proper execution as to how it should sustain in this competitive world also matters. If we are clear on these things, building a business on blockchains is the best thing.
Crowdfunding
This is something that can be made possible with the help of cryptocurrencies and blockchain. People who have ideas can sit and document the idea. In the blockchain world, it is called a White Paper. That will basically have all the details about the business plan and how the project will be executed. This way it makes it a lot easier to crowdfund.
Based on the White paper a token can be created and it can be listed for sale in the market. The supply of the token can also be determined based on how much people would like to crowdfund to start their business. People who buy the token is going to be an investor and they would invest only if they like the idea. Otherwise, it can be hard to sell the tokens.
Build and prove
After the crowdfunding is done, we now have an initial investment with which the business can be started. This can cover the cost of development and other expenses. After this comes the important part where the value of the token should be increased based on the income generated by the business. If the business is outside the blockchain world it is well and good because it not only brings value to the business token but also to the entire blockchain ecosystem.
The investors would be happy to stay only if the token is going to bring some profit for them. If the project is not going to bring additional revenue for the investors, they are not going to be happy. The founder can distribute dividends to the investors now and then so that they can be happy about getting additional value on their investment.
Building a business might be easy but sustaining the business and taking it towards the profit direction is the only challenge. If we choose the right blockchain, creating the token and supplying it will also not be a costly one. For example, creating a token on the hive is very cheap and also there are no transaction charges on Hive which makes it really special.
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