The Blockchain business model can help you build a company that provides a product or service that people want. It’s a distributed database that will allow you to create smart contracts and store relevant asset information. This new technology can also help you add additional business value to the products and services that you offer. Developing a blockchain solution will be challenging, but it’s possible. You’ll need to understand the concept and how the technology works before you can create a successful business model.

In addition to creating a platform, a blockchain business model can also help you build a new type of company. This kind of company can build an app or service that connects users to artists and streaming platforms. Spotify recently acquired Mediachain, a blockchain startup that created a transparent payment structure for artists. Traditional companies’ operating models put shareholders and customers in conflict. The shareholders want high ROI, and the customers want the lowest price. With a blockchain, these interests don’t conflict.

Businesses can also use the taxonomy and business model patterns to identify blockchain business models. By using this information, they can assess their business models and determine whether they should implement an internal blockchain solution or external blockchain solution. They can also identify ways to tokenize assets and generate revenues through the technology. This allows them to improve their processes while reducing costs. It’s also a great way to help companies build better products. In the end, blockchain can revolutionize how businesses run. Generally, There are seven types of blockchain business models. These are as follows: 

Peer-to-peer blockchain business model

With the help of this technology, companies can do peer-to-peer transactions. This technology also helps end-users directly interact with each other.  Here the company makes a profit through tokens, BaaS (blockchain as a service), transaction fees, and others. This business model is used by Filecoin and IPFS, which provide a platform for data storage and sharing.

Blockchain as a Service Business Model (BaaS)

Valuable services include user authentication, database management, remote updating, push notifications, cloud storage, and hosting. All these services are provided by the BaaS.  This model is helpful for businesses because it provides an ecosystem to manage their blockchain system. With the help of BaaS, companies experiment, test, and conduct research. End-users, including startups, do not need to focus on the way the blockchain works. BaaS assists companies in the development cycle. It put an end to the need for hardware. The most popular business models have famous operators such as Microsoft (Azure), Amazon (AWS), and IBM blockchain (BlueMix).