How to Create a Successful Startup With Blockchain

  1. Find a purpose.
    While blockchain is an exciting and useful technology, don’t jump on the bandwagon if you don’t know where you want to go. Startups and established companies alike want to add blockchain to their operations to get in on the hype. Unfortunately, that kind of motivation is misguided. Instead, focus on how this technology can serve your overall business processes and the needs of clients.
    Here’s a simple way to figure out your blockchain use cases: Define what asset data will be captured and stored, deciding whether this data affects your business processes in a way that requires real-time visibility via notifications and dashboards. From there, figure out who outside your company needs to access this data and how it might benefit them. Only then can you determine whether blockchain is the right path forward.
  2. Get the help you need.
    Don’t try to tackle blockchain by yourself. Find the right technology partner by identifying one that builds blockchain in-house. By working with a partner, you can see an existing blockchain framework and gain insight into its use cases.
    Be careful not to get snowed. There are plenty of companies that know the right words to acquire customers but can’t deliver on the actual product. Make sure your potential partners have the specific coding skills you’ll need — such as proficiency in C++, the most commonly used code in the blockchain. Don’t take anyone’s word as gospel, and make sure you see candidates in action before taking them on.
  3. Don’t make blockchain a marketing gimmick.
    A blockchain is a valuable tool, but it shouldn’t be confused for a product in and of itself. While it can be useful to create a software stack that showcases the benefits of blockchain, that shouldn’t be the only thing you sell to clients.
    Instead, it should serve as the backbone of a larger story you tell your customers. Otherwise, it will seem like you’re just another company pushing a trendy technology without a compelling reason.

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Melisa Assunta

Melisa Assunta

In business since 2014, we’re a cohesive team of developers, technicians, marketing specialist, and design professionals.