They say everything will be linked and tokenized by a blockchain network one day. It seems true as we hear the blockchain market will be worth 39.7 billion dollars by 2025.
Blockchain technology made its entry in 2011 and has thrived since then. It can offer solutions to issues of security in mobile apps. Moreover, blockchain apps can streamline business operations and help you manage the supply chain seamlessly.
What is the magic ingredient in blockchain technology? Decentralization. Blockchain network keeps data in a decentralized ledger. It offers two primary benefits — data protection and decentralized recording of transactions.
1- Cryptocurrency Wallet Apps
To earn lucrative revenue, you should build a cryptocurrency wallet application. This application keeps cryptocurrencies such as Ether or Bitcoin in the cloud.
A user can make transactions using a cryptocurrency wallet on blockchain and access them via mobile apps, sites, or desktop apps.
2- Cryptocurrency Exchange Platforms
Blockchain startups can also develop a cryptocurrency exchange application. As the name suggests, a cryptocurrency exchange platform lets people sell and purchase currencies using mobile devices.
These apps also give details about each digital currency and its past prices. These apps helps crypto investors trade digital coins from anywhere and anytime.
3- Smart Contracts
The smart contract app is an application that uses smart contracts to complete the core function of the program.
A smart contract is a program/code that links blocks in a blockchain network. Blockchain network is decentralized, meaning blocks record all money transfers.
Smart contract apps are used as financial agreements and services.
You can utilize smart contracts to make new digital tokens or assets and move them between consumers without involving any external group.
4- Digital Identity Management Apps
App development has progressed so much that now you can manage digital identities using mobile apps. Blockchain applications can stop identity theft which once seemed overwhelming and challenging.
Digital identity management is one of the best blockchain app ideas for developers and businesses. Blockchain helps you create immutable ledgers that run without a central authority.
Blockchain decentralized ledger stores an individual’s identity as a digital identifier in their mobile or web app. It stores identities securely in an encrypted format, making it impossible for a third party to access them.
For example, you create an online account. You will create a digital identifier in your digital identity management app and then store it to stop attackers from accessing it.
Similarly, users can secure other forms of data such as credit card numbers, social security numbers, etc.
5- Crowdfunding Apps
Blockchain startups can create a crowdfunding application utilizing a smart contract. Research says that 85% of new businesses pay late, and 14% don’t even pay what they agreed to pay to angel investors.
Angel investors hesitate now because their money can be misused or go into the wrong campaigns. They don't fully trust crowdfunding platforms as no authority can hold them accountable.
Investors can fund a business on a blockchain-driven crowdfunding app knowing whom their funding is going and how they are using it.
These apps block the money within the blockchain network until the business advances the project.
6- Distributed Cloud Storage Apps
This app stores users’ data on many servers. You can choose a server, and data will be kept there. If you don't want to keep your information on a server, this app can help you.
But how does the app achieves it? It builds a distributed cloud storage system that lets you keep your files in various locations. You will be free to store any file in a server of your choice and change it if you want or need it.
7- Notary Apps
We live in a modern world where we create, sign, and verify documents. But this also raises the question of security. Here Blockchain has come to your rescue with its near impenetrable security.
Among the top blockchain app ideas is a notary application. Blockchain allows us to develop a decentralized system for notaries. Nobody can imitate or fake your digital signatures on blockchain-powered notary apps.
On top of that, a blockchain-based notary app stores documents on various systems globally, making a decentralized database.
Blockchain technology prevents a criminal from tampering with or stealing documents, compared to conventional systems with only one point of failure.
8- Insurance Apps
Another incredible blockchain app development idea is an insurance app. Such an app enables users to buy insurance for expensive or rare unpredictable circumstances like medical emergencies or natural disasters.
A blockchain-based insurance application also helps people to pool risk with other insurers, decreasing their premiums and increasing their chances of getting coverage.
Additionally, insurance apps are more transparent than usual insurance policies as they are created on a public ledger anybody can view. This transparency may help decrease scams and elevate trust in both parties.
9- Supply Chain Management Apps
We buy various products from stores but never know how these products reach us from the manufacturer’s place. A product’s journey from its factory to the end user is called the supply chain, which involves suppliers, partners, and consumers.
Developers can use blockchain technology in supply chain handling apps to manage the exchange of goods and services. Customers can identify the origin of raw materials and packaged goods transparently.
In this way, customers can spot whether the company grew their food organically or whether a manufacturer makes their dress in a sweatshop.
Blockchain network helps an application monitor the transfer of products from the manufacturing site through all production stages until delivery.
Blockchain-powered supply chain handling apps let customers monitor items’ quality and avoid scams or fraud.
10- Voting Apps
Voting is a regular practice in any democratic country. People often blame governments for tampering with votes to favor one candidate.
A Blockchain voting app records every vote on the Ethereum public ledger for anybody to view. As no authority administers the voting process, nobody can tamper with votes after recording.
A blockchain-powered voting application will offer a secure and different method of voting. Voters will cast votes on an encrypted ledger, making the data almost unbreachable.
Maven Digital is a mobile app development company specializing in BTC, Ethereum, Quorum, Hyperledger, and Stratus. We aim to make your company secure and scalable with encrypted blockchain apps and software.
Blockchain is the future of app development, and businesses should hurry up to use this technology to compete with modern challenges.
1- What is a blockchain app?
An app that uses blockchain technology is called the blockchain app. A Blockchain network is a distributed immutable ledger for monitoring assets, recording money transfers, and developing trust.
2- What are some popular blockchain-based applications currently?
Chainalysis, Circle, BurstIQ, HYPR, Xage, Ocular, Chronicled, WholeCare, Slync.io, DHL, and Maersk are some popular blockchain apps.
3- What are the benefits of blockchain app development?
Blockchain technology elevates the protection, transparency, trust, and traceability of information distributed across a network.
4- What makes blockchain immutable?
The core element among many responsible for the immutability of blockchain networks is cryptographic hashes, as you could not reverse engineer them.