DO BLOCKCHAIN COMPANIES MAKE MONEY?

Fintelics
5 min readNov 4, 2021

DO BLOCKCHAIN COMPANIES MAKE MONEY?

With the rise of Blockchain and cryptocurrencies, there has been an increase in demand for Blockchain specialists and professionals who can use this technology to benefit organizations. At the same time, it has paved the door for many new aspiring entrepreneurs to enter the Blockchain segment by offering Blockchain-based products and solutions that will eventually help the firm expand. Aside from some of the industry’s biggest brands, we’re seeing a slew of start-ups and newcomers enter the fray.

So, of course, Blockchain companies do make money. They are in the business because there is money to be made. Furthermore, with the increase in demand for transparency, the world is moving towards digitalization. It is important to remember that the fundamentals of a world where everything goes digital is Blockchain. Blockchain is the technology that is the foundation of cryptocurrency. Cryptocurrencies, such as Ethereum, Solana, Cardano and many more are bringing this digital world to fruition, as their entire ecosystems revolve around Blockchain technology. However, an essential question arises: how do these businesses make money?

What Has Blockchain Made Possible?

Blockchain has seen increased popularity in practically all fields over the last few years. Many individuals know this technology as a prophecy of a coming revolution. This euphoria raises the question of whether Blockchain-based businesses and enterprises are profiting from Blockchain, and if so, how?

Before we get into how corporations and organizations are making money using Blockchain, let’s take a quick look at what Blockchain is making feasible that would not have been possible without it.

  • Asset storage and transfer in a decentralized way without the use of an intermediary.
  • Providing Instant certified proof of the current and previous states of all processes.
  • Creating governmental and socioeconomic frameworks independently.
  • Assisting in the distribution of the expenses and benefits of a company ecosystem.
  • Combining ownership, value distribution, and incentive into a single asset.

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Fintelics

Software consulting company that focuses on emerging technology such as AI, Blockchain, Cloud Computing, and Data Engineering, MERN Stack, and Fintech