My little research has shown that the following are some of the business opportunities that abound in blockchain technology;
1. Banking
Nevermind that blockchain the backbone of Bitcoin was created to circumvent traditional financial institutions. Or that banks originally opposed cryptocurrency, fearing obsolescence if unregulated currency ever went mainstream. Blockchain, it seems, now has a new friend, and it is none other than the global banking system.
2. Smart Contracts
One of the hottest features of blockchain is its ability to facilitate smart contracts. While the fintech, banking, and legal services industries are already dabbling with automated transactions that execute based on preset conditions, a whole host of other business are clueless that they, too, could benefit from smart contracts.
3. Connected Car
The automotive industry is proceeding steadily toward its goal to have more than 37 million connected vehicles on the worlds highways and byways within the next five years. The road to mainstream adoption of IoT vehicles will paved, in large part, by blockchain technology.
4. Healthcare
No industry requires more data to be processed daily than the healthcare sector. From patient admittance to recording surgical results, every patient represents a torrent of data that must be kept accurate, accessible, as secure. No technology can satisfy these requirements like blockchain.
5. Internet of Things (IoT)
The growth of IoT technology cannot be over exaggerated. With everything from cars to connected homes hooking up, the market for technologies to support IoT is enormous. With $6 trillion expected to be invested in IoT during the next five years, an increasing number of tech companies are looking for ways to carve out a share of the market. One of the best opportunities awaits innovators who can make IoT data move more quickly and remain secure using distributed ledger technology.