# Top 4 Blockchain Business Ideas for 2022
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-02-04
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Discover the Power of Blockchain Technology in Business
Meta Description: Discover the top blockchain business applications for 2022, from cryptocurrency exchanges to private financial networks. Explore the types of blockchain and the
URL: https://financedigest.com/top-4-blockchain-business-ideas-for-2022html

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Blockchain is becoming popular with businesses as the technology is proving superior to the traditional alternatives in data processing. From cloud services in Huawei to tokenised assets on [Currency.com](https://currency.com), blockchain has been paving its way into an array of industries.

Blockchains are distributed network technologies that allow you to interact safely and efficiently with anyone in the world. When a transaction happens on a blockchain, it is instantly settled. The distributed digital ledger is [protected from unauthorised access](https://www.financedigest.com/supporting-a-fair-and-resilient-society-by-protecting-access-to-cash.html "Supporting a fair and resilient society by protecting access to cash ") and cannot be edited or deleted. No one person on a blockchain network can control the network for their own benefit or destabilise the system for others.

These features have converged to [create powerful new business](https://www.financedigest.com/6-ways-how-to-create-great-tiktok-videos-for-your-business.html "6 Ways How to Create Great TikTok Videos For Your Business") applications on the blockchain. These include everything from private [financial networks to open](https://www.financedigest.com/australia-financial-crimes-regulator-opens-investigation-into-britains-entain.html "Australia financial crimes regulator opens investigation into Britain’s Entain"), peer-to-peer lending networks. Here are the main [types of blockchain and four exciting ideas of business](https://www.financedigest.com/types-of-business-partnership.html "Types of business partnership") applications.

## **Blockchain Types**

There are two main types of blockchain used in business: public and private. It’s important to understand the difference between them to know exactly how to get the most benefit from them.

### **Public Blockchain**

Public blockchains are the most well-known type. These include Bitcoin, Ethereum and many others. They are called ‘public’ because they are designed to be accessible by anyone in the world. In fact, you can’t stop anyone in the world from using them. This feature means they are ‘permissionless’ blockchains. This makes them accessible and useful for people and [businesses around the world](https://www.financedigest.com/exclusive-qatarenergy-boss-says-world-cup-tension-will-not-impact-german-business.html "Exclusive-QatarEnergy boss says World Cup tension will not impact German business").

### **Private Blockchain**

Private blockchains are designed to have some of the technical features of blockchains. But, they are not open and accessible for everyone. Instead, they are built and run by private entities for a specific purpose, like settling cross-border transactions quickly. Popular examples of private blockchains include Hyperledger and Ripple. Remember, if you are starting a [business that relies totally on a private](https://www.financedigest.com/the-new-wifi-how-private-5g-networks-could-revolutionise-business.html "The New WiFi? How Private 5G Networks Could Revolutionise Business") blockchain, you’ll never have complete control of your business.

## **4 Ideas of Blockchain Applications**

Here are some [business ideas involving blockchain that take advantage of this incredible technology](https://www.financedigest.com/technology-is-a-tonic-for-late-business-payments.html "TECHNOLOGY IS A TONIC FOR LATE BUSINESS PAYMENTS") in 2022.

### **1\. Cryptocurrency Exchange Business**

Many people around the world need platforms to exchange cryptocurrencies for different applications. The biggest crypto exchanges in the world are Binance, Coinbase and FTX. Together, they are doing more than [$20 billion](https://coinmarketcap.com/rankings/exchanges/) in trading volume per day.

There are also [opportunities to create a niche cryptocurrency exchange business](https://www.financedigest.com/challenger-banks-missing-golden-opportunity-to-steal-business-from-competitors-by-repeating-same-old-mistakes.html "Challenger Banks Missing Golden Opportunity To Steal Business From Competitors By Repeating Same Old Mistakes"). For example, if you scroll down the [list of top](https://www.financedigest.com/the-secret-to-academic-success-colouring-in-oxford-and-cambridge-residents-top-the-list-of-crayon-wielding-adults.html "The secret to academic success? Colouring in! Oxford and Cambridge residents top the list of crayon wielding adults") crypto exchanges, you’ll find exchanges with a smaller trade volume, but a more specific purpose. For example, The Rock Trading is an exchange platform built specifically to comply with European legislation. This is attractive to European companies where compliance is a priority. They are rewarded with more than $2 million in daily trade volume, which could be a very lucrative business.

As the cryptocurrency ecosystem gets larger and more complex, the demand for cryptocurrency exchanges will grow. There will be plenty of opportunities for those willing to take a chance here.

### **2\. Crypto Crowdfunding**

Crowdfunding has [become one of the most popular ways](https://www.financedigest.com/ways-to-become-a-millionaire.html "Ways to become a millionaire") of raising capital. People, [businesses and researchers worldwide are skipping traditional finance](https://www.financedigest.com/1-in-3-uk-businesses-looking-for-finance-are-finding-it-harder-to-get-a-loan.html "1 in 3 UK businesses looking for finance are finding it harder to get a loan") channels like banks and grants and going straight to their peers for the cash. Blockchain platforms are making this [process even more efficient](https://www.financedigest.com/1-easy-tip-to-make-a-key-e-commerce-process-more-efficient.html "1 easy tip to make a key e-commerce process more efficient"). Even more traditional crowdfunding platforms like [Kickstarter are moving to blockchain technology](https://techcrunch.com/2021/12/08/kickstarter-plans-to-move-its-crowdfunding-platform-to-the-blockchain/).

A profitable blockchain [business idea](https://www.financedigest.com/5-business-ideas-influencing-the-travel-industry.html "5 business ideas influencing the travel industry") is to create a blockchain crowdfunding platform that others can use to raise funds. There are already many of these platforms gaining popularity, and there’s room for more. The trick is to find a niche and serve a need in the market that is currently unaddressed.

The core functionality of a crowdfunding platform is to connect those with capital to those that need capital. This could be a lender-borrower model, such as BlockFi and YouHodler, or some other funding model specific to a certain type of project. This is where you need to understand the needs of your lenders and borrowers to fulfill the need better than anyone else.

These types of platforms have strong [network effects](https://www.financedigest.com/how-can-network-operators-monetise-television-quickly-and-effectively.html "How can network operators monetise television quickly and effectively?"). That means that once a platform is popular, it’s easy to [stay popular and keep market](https://www.financedigest.com/dollar-rebounds-as-brainard-assures-markets-fed-will-stay-the-course.html "Dollar rebounds as Brainard assures markets Fed will stay the course") share. That makes crowdfunding platforms an extremely lucrative business if you can gain traction.

### **3\. Decentralised Cloud Storage**

[Cloud storage is a way of connecting someone that needs more computer](https://www.financedigest.com/the-value-of-cloud-computing.html "The Value of Cloud Computing") storage with a computer that has excess storage capacity. Traditionally, this has been done by large [cloud computing](https://www.financedigest.com/enterprise-training-and-the-future-of-cloud-computing.html "Enterprise Training and the Future of Cloud Computing") companies like Google, Amazon and Dropbox. You [pay a service](https://www.financedigest.com/best-paying-jobs-in-finance-consumer-services.html "Best Paying Jobs in Finance Consumer Services") fee to access storage on their servers.

However, this structure is being disrupted by blockchain. Decentralised cloud storage allows users to connect with other users to share their storage space. These platforms allow users to connect free disk space to the decentralised cloud. They earn money for storing other people’s (encrypted) data in their free space.

Setting up a decentralised cloud storage platform is a lucrative [business model](https://www.financedigest.com/7-factors-to-consider-before-your-business-moves-to-a-subscription-model.html "7 Factors to Consider Before Your Business Moves to a Subscription Model") that platforms like Storj are taking advantage of. You can essentially [set up a cloud storage business](https://www.financedigest.com/finalised-pan-european-data-protection-laws-set-the-new-standard-for-a-privacy-friendly-business-environment.html "Finalised Pan-European data protection laws set the new standard for a ‘privacy-friendly’ business environment") without owning any storage space. It is similar to how Uber [runs a taxi service without owning any cars](https://www.financedigest.com/4-things-to-do-if-you-run-into-problems-with-your-leased-car.html "4 Things to Do if You Run Into Problems With Your Leased Car"). And, we all know how successful that company has become.

### **4\. Crypto Gaming Platform**

Crypto gaming has been one of the early success stories of [blockchain technology](https://www.financedigest.com/venom-foundation-and-hub71-partner-to-accelerate-growth-and-adoption-of-blockchain-technologies-from-abu-dhabi.html "Venom Foundation and Hub71 Partner to Accelerate Growth and Adoption of Blockchain Technologies from Abu Dhabi"). Users love unique, tradable in-game assets that they can truly own and trade with each other.

We are still in the very early days of this industry. There are many opportunities to create new [crypto gaming platforms](https://www.financedigest.com/meta-to-wind-down-nfts-on-platforms-amid-crypto-bust.html "Meta to wind down NFTs on platforms amid crypto bust") that cater to a certain segment of the market. Or, to make a profit by using the current platforms in an economical way, like buying and [selling crypto gaming assets](https://www.financedigest.com/uks-cineworld-to-not-sell-assets-individually-denies-talks-with-amc.html "UK’s Cineworld to not sell assets individually, denies talks with AMC"). People have earned hundreds of thousands of [dollars on CryptoKitties and other crypto](https://www.financedigest.com/dollar-catches-breath-while-investors-await-midterms-cryptos-skittish.html "Dollar catches breath while investors await midterms; cryptos skittish") games.

## **Conclusion**

There are some exciting opportunities to set up new [businesses in 2022 that take advantage of blockchain technology](https://www.financedigest.com/schneider-and-greenyellow-target-smaller-businesses-with-energy-saving-technology.html "Schneider and GreenYellow target smaller businesses with energy saving technology"). There are [challenges to starting a business](https://www.financedigest.com/the-maserati-100-one-hundred-business-disruptors-challenging-the-establishment.html " ‘The Maserati 100’ One Hundred Business Disruptors Challenging The Establishment") with emerging technology, and you’ll have to be highly educated on the specifics of blockchain. But, if you can pull it off, you could have one of the fastest-growing businesses in the world.

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