When the average person first hears about blockchain technology, they’re usually drawn to the monetary value of cryptocurrencies like Bitcoin. But a bit more research will prove that this is just one of many aspects that blockchain is offering to businesses. For instance, Ethereum provides a platform for the development of decentralized applications (dApps). Using “smart contracts”, which is a protocol that digitally facilitates an agreement between two parties, a blockchain developer can create an application with impeccable security and no need for a middleman.

Many businesses are starting to research how dApps could be integrated into their own products and services. There’s an ever-increasing number of ideas being generated by companies that want to get into dApp development. From government systems to mobile games, social media to messaging services, the potential of dApps is essentially unlimited. There are a number of ideas for businesses and developers that want to utilize blockchain technology to create a decentralized product or service. Here are some of the most prominent examples of how businesses are currently leveraging the power of blockchain and dApps.

Tapping the Potential of E-Commerce

Taking advantage of the secure and decentralized nature of blockchain tech, many businesses are looking to use dApps to develop marketplaces for goods and services. Implementing a decentralized peer-to-peer network into e-commerce grants more protection and freedom to the user, eliminating intermediaries (such as PayPal) and greatly reducing to possibility of having their data compromised.

An increasingly popular network for the development of decentralized marketplaces is District0x. The framework of this platform has enabled the creation of numerous services and e-commerce services, from job boards like Ethlance to the Meme Factory, a unique “district” that allows users to mint their own tokenized memes and offer them for sale immediately.

 

Blockchain-Based Messaging and Social Media Services

Decentralized applications that focus on encrypted messaging and social media are also generating a ton of hype in the blockchain space. As controversy surrounds platforms like Facebook and Twitter, the desire for a truly decentralized and free social media service has never been higher. An open-source social media platform would prevent any bias or censorship from manipulating the thoughts of users.

On the other hand, messaging dApps like Status.im are aiming to provide users with a secure platform to send and receive encrypted messages, as well as Ether payments and smart contracts.

Develop Your Business Through Crowdfunding on the Blockchain

A great idea for startups and businesses that are seeking to increase capital is to use decentralized applications as a crowdfunding tool.

One example is WeiFund, a crowdfunding platform that is utilizing the decentralized internet (also known as Web 3.0) to improve upon the flaws that plague popular services Kickstarter and Indiegogo. With the use of smart contracts, donations are registered as complex agreements, which effectively expands fundraising possibilities for companies. Instead of using Fiat money, this Ethereum-based service uses Ether tokens to donate to different projects.

Creating Valuable Assets with Games and Collectables

Another increasingly popular idea for dApp development is creating a gaming or gambling platform. For instance, the Ethereum platform can be implemented into games that have a player-run economy, or even to create gambling services that operate without lengthy and pricey transaction fees.

There are also ways to generate value with digital collectables. One of the most trendy decentralized applications on the gaming market is CryptoKitties, which allows players to breed their own virtual cats, and then buy, sell, and trade with others. This simple dApp idea has helped raised an immense amount of money for charities, and one of these cute CryptoKitties was recently sold for a whopping $140,000!

Conclusion

As you can now see, there’s a vast array of dApp development ideas being tossed around the blockchain space. Ethereum supplies blockchain developers with a platform that can be used to create decentralized applications for nearly any type of business or service. With blockchain technology spreading in both popularity and potential, more and more ideas will continue to hit the market and revolutionize industries.