There’s no doubt that blockchain app tend are fast catching up – one of the many reasons why every mobile app development company is shifting towards this technology!
However, blockchain isn’t only limited to securing data or providing a safe medium for online transactions. This technology keeps evolving, and the list of benefits it provides tends to be endless!
Seeing the promising perks, everybody is switching towards a blockchain application – but having so many blockchain applications already present in the market, thinking about a new one might be a daunting task.
For your assistance, this guide is being narrowed down with some of the best blockchain app ideas that you can use to develop a promising application.
1. Make the process of money exchange easier!
You may need to transfer money internationally. What first thing would pop into your mind? To go to the nearest money exchange right?
Well, without a doubt, money exchange is a secure medium to make international payments. But unfortunately, they charge their consumers 10% of each amount.
Plus, restrictions like not supporting the cryptocurrency is one of the biggest drawback of these money exchanges.
Hence, a custom mobile application development company can develop a blockchain app allowing users to trade money by paying a lowered exchange cost. Moreover, you can also make your app versatile by adding the functionalities of a digital wallet and a lot more!
This is surely worth a try!
2. Simplify the foreign exchange post-trade processing efficiency!
Everyone knows that foreign exchange is among the largest liquid asset classes present in the world. Hence, capturing, reconciling, and settling every transaction or trade made might be a daunting task.
Considering this, a developer can use this opportunity to make a blockchain app that provides fully synchronized integration with an ample list of 3rd party data providers in the market.
This would surely enhance efficiency yet would allow you to make a heaping amount of profits.
3. An entire stock market on a blockchain app!
Imagine how cool it would be when startups and fortune 500 companies can register, issue and trade shares over a blockchain application!
Didn’t understand the idea? No worries!
We are saying that a mobile app development company USA can create a blockchain app that helps consumers buy shares of the company using digital currency!
Digital currency’s value is predicted to go up each day. Hence, getting digital currency in exchange for shares is a win-win situation for companies too.
Having said that, this can be the best blockchain app idea you ever have!
4. An app for reducing insurance fraud!
There are vital chances for insurance to get exposed to numerous fraud schemes. Though the fraud schemes are never-ending, for your understanding, let us tell you a basic one.
For example, A new applicant for insurance can commit fraud by holding back critical information. Or by filling claims on behalf of dependents who are totally ineligible.
Hence, a mobile app development company in Los Angeles can develop a blockchain app to reduce these insurance frauds.
Together with Cateina and IBM technology, the compliance and verificatio of medical services can be rendered.
5. Transferring of digital wills!
Long gone are the days when wills used to be written on paper, and transferred to the next generation.
In modern times, the number of people investing in cryptocurrency to store funds is enhancing at a rapid pace. Which brings us to the question “what will happen to your stored cryptocurrency if you die without a will?”
The answer to this problem is a blockchain app. Developers are encourages to develop a blockchain app that comes with smart contracts to handle your funds.
Hence, in times of crisis, the app would know what to do, and to whom it should transfer the funds!
It’s recommended to avail of a premium App marketing solution, to make sure your blockchain app gets installed by a maximum number of people.
6. Predicting the stock markets with a blockchain app!
Hands down, reading the statistical data over a stock exchange is a daunting task. Since many aren’t familiar with reading it, thus many people refrain from investing in the stocks.
Considering the situation, making a blockchain app that makes reading the stock market values easier, and predicts the ups and downs of the market can turn out to be a wise idea!
When ordinary people would be able to read the statistical data, they are more likely to invest in stocks too.
Having said that, this blockchain app has the potential to emerge on top of every other app out there!
7. Securing medical records!
Since the pandemic, doctors, nurses, and health proffesional services have been limited – in terms of the care they can provide. Why is that?
This is because of the inability to access a patient’s complete record. Though, the records from 10 to 20 years back can easily be traced in a hospital management system.
But let us say that patients who were treated in their mid 20’s are now back at the age of 60 – how their data can be retrieved?
This can easily be done with the help of a blockchain app. A versatile app can be created for hospitals that allow the staff to publish medical records over cloud-based storage protected by blockchain.
This way, a piece of information about a patient can be retrieved, even after 10 years. And, you can remain calm knowing that blockchain technology is impossible to decrypt!
All it takes is “a promising idea” to get yourself in the business – and when a business includes a blockchain app, your success is evident.
Concluding the guide, we believe that the above-enlisted blockchain app ideas are one of the finest.
Choose one that suits best your preference, and we are sure that it would work out incredibly well for you.