7 Mind-blowing Blockchain App Ideas To Boost Up Business Growth in 2022
Worldwide, the Blockchain market is estimated to rise from $3.0 billion in 2020 to $39.7 billion by 2025, with a Compound annual growth rate (CAGR) of 67.3 percent during 2020–2025.
The expanding demand for secured mobile apps, simplifying business processes, and seamless supply chain management applications are increasing blockchain technology deployment in business apps.
In simple terms, Blockchain technology proffers secured and anonymous transactions. It generates accurate peer-to-peer secure transactions and has two foremost roles that are:
- Data Security
- Virtually cassette transaction value
To know it better, let’s discuss this with an example:
Earlier, the internet was utilized to deal with multiple tasks, like sending or receiving mail or reading and sharing articles, but nowadays, this advanced internet works with finance sectors digital assets, valuable objects that can be touched and defended. These assets are stored in an encoded form on a network-to-network chain that is Blockchain.
Blockchain was introduced in 2009; since then, it has changed industries’ way of thinking as now businesses seek technologies that are more transparent, secured, and reliable.
Famous companies such as IBM, Samsung SAP, and Maersk are making use of decentralized ledger systems with Blockchain technology.
Let’s move further and know the top 7 blockchain app ideas that will boost your business growth in 2021 and upcoming years.
The Best Blockchain App Ideas 2021–22
The stated Blockchain app ideas you can use in your upcoming Blockchain projects will help your business make good reach in the market and stand ahead in the technology adoption competition.
1. Decentralized Apps
DApps are digital programs that run on a peer-to-peer network of computers rather than on a single computer. This sort of Blockchain app idea will help your business build an application that stores data in a decentralized database.
Well, most of the small to large level businesses widely used DApps to track goods and cross-border financial transactions without including any third party that is the central bank.
Chainlink, PokerKing, LBank, and Crypto Kitties are some of the well-known DApps in the market.
In 2018, the number of active DApps crossed 2.3k used by 42k different active users. ( Suicide Ventures report)
Well, it’s quite difficult to create DApps, so you may require to hire Blockchain developers working in an excellent Blockchain application development company as this will support you in forming reliable, secure, and dynamic decentralized apps.
Blockchain-based DApps Benefits
- Open source code
- No central point of failure
- Usage of internal currency
- Decentralized consensus mechanism
2. Supply Chain Management App
A supply chain management app is a widely adopted Blockchain app idea that mainly provides real-time analytic systems that efficiently handle the flow of services and goods, involving all methods that transform raw materials into final outputs with the supply chain network.
Blockchain supply chain management apps will support streamlining the workflow and direct processes in the correct direction. It offers transparency to observe explicit business’s supply chain activities to raise customer value and gain competitive advantages in the marketplace.
Supply Chain Management Software segment revenue is predicted to reach $17,144.51m in 2021 and is anticipated to show a CAGR of 6.53% between 2021–2025, resulting in a market volume of $22,082.52m by 2025. (Statista)
Blockchain-based supply chain management apps benefits
- Order management
- Inventory management
- Cloud-based mobility
- Logistics & shipping details
- Analytics & forecasting
- Return management
- Security and scalability
3. Digital Identity-based Apps
In simple words, Digital Identity is a piece of information on an entity created on computer systems that displays an external agent. The digital identity app proffers an easier, quicker, and more reliable means to people to verify their identity on various venues, such as businesses, websites, and bars, without providing original certificates’ photocopies.
Bluink, globaliD, and Yoti are some of the famous digital identity-based applications in the market.
Worldwide, the digital identity solutions market produced a revenue of $13.7 billion in 2019, and it is foretold to strike at $30.5 billion by 2024, at a compound annual growth rate of 17.3% from 2019 to 2024. (marketsandmarket.com)
Benefits of Blockchain-based digital identity apps
- Ease of having duplicate ID proof
- Self-sovereign identity
- Easy and smooth identification
- Non-custodial logic solution
- Decentralized web identity management
4. Transportation & Logistics Apps
Blockchain technology in transportation proffers quick and scalable solutions for order transition, tracking, and validation. With the support of Blockchain, the supply chain for truck components can be easily tracked on a digital ledger.
Moreover, transportation & logistics apps include a decentralized public ledger system that records all the modifications in real-time and decreases clerical errors.
Blockchain-based transportation and logistics app benefits
- Simple coordination of documents
- Decreased transportation cost
- Simple approval & clearance
- Secured, authenticate, and updated data
5. Governments Voting Apps
Governments confront a significant issue in developing leading government voting apps. Maintaining high-standard privacy and eliminating tampering of voting can be difficult while making the voting apps, but integrating Blockchain technology in an application can help you resolve such things.
Additionally, the blockchain-based digital government app proffers data protection, streamlined processes, decreased fraud, and better accountability. Such apps eliminate a single point of failure and keep citizens’ sensitive data and the government safe. Well, if you are pondering developing the voting apps, then I will suggest you take expert help working in the reputed Blockchain app development company as doing this can support you in forming a reliable app.
Blockchain-based government apps benefits
- Reduced redundancy
- Streamline processes
- Expanded security & safety
- Decreased audit burden
- Better data integrity
- Enhanced efficiency & cost reduction
6. Personal Finance Management App
Blockchain-based personal finance management app is the most implemented financial blockchain app idea to expand into the market to add value to the business without any effort.
Consumers are more focused on their wages, and these applications can assist enterprises in making good reach in the market. Further, these apps are working as a vital app in which users can easily categorize their incomes and investments and trace the activity in real-time to obtain a comprehensive and better perception of how to handle their finance efficiently and smartly.
Blockchain in personal finance management app Benefits
- Immediate settlement
- Enhanced capital optimization
- Better transparency & traceability
- Improved security & safety
- Reduced counterparty risks
- Reduced error handlings & reconciliation
7. Stock Market App
Blockchain technology can surely influence the future of the stock market in several ways. In present times, several businesses move through a contract process that takes days to be approved due to mediators’ involvement, such as exchanges, clearinghouses, and regulatory processes.
But if I talk about Blockchain networks, then compensation times get decreased to minutes from days and proffers enhanced and lessened error transactions. The stock market blockchain app idea is promoting trading in a unique digital asset.
Blockchain stock market app benefits
- Better interoperability & trust
- Improved transparency & fairness
- Easy clearing & settlement process
- Automation of post-trade events
- Easy legal ownership transfer
Thus, there are several Blockchain app ideas available in the market which you can use to develop an impactful application to help business stay ahead in the market.
I hope the shortlisted top Blockchain app ideas will suit best to your startup, SMEs, or large-scale enterprises. Well, to transform Blockchain app ideas into reality, you may require availing Blockchain software development services from the topmost Blockchain software development companies. This will help your business form a unique and extraordinary Blockchain-based app.