Tech

How The Blockchain Can Help Your Side Hustle

Note with Block chain written on it
Written by MicroStartups

The Blockchain revolution has not only helped solve some of the long-standing issues multinational corporations and manufacturing companies have faced over the decades, but the technology also offers a tremendous growth potential for your side hustle.

Entrepreneurs and startups are now focusing on building their own blockchain applications to enter the emerging industry.

Blockchain Opportunities are Waiting for Side Hustlers

Whether you’re a developer, content writer or marketer, you can find an opportunity which can help you make a decent income from your side hustle. If you’re not planning to trade or invest in cryptocurrencies, you can provide services to industries in many areas. It’s easy to learn about blockchain technologies and crypto coins; information about the latest trends on ICOs (Initial Coin Offerings) can be found on sites such as ICOHolder.

Salih Sarikaya, for instance – who is a micro-level entrepreneur, has recently launched a messaging app ‘WhatsAround’, which is fully backed by blockchain technology. The app allows users to store and share pictures and content securely.

Salih’s strategy of attracting users through cryptocurrency coins seems to be an interesting idea. WhatsAround rewards users with a new cryptocurrency, ShotCoin – the innovative way of monetizing content for people. WhatsAround distributes shotcoin to outdoor lovers and people who are interested in sharing adventure pictures and amazing videos. The user can earn shotcoins through other people’s comments, upvotes, and bookmarks. The idea of supporting the app with blockchain technology and rewarding the users through a crypto coin could help Salih Sarikaya in gaining more users.

Generating Funds through Altcoin Crowdfunding

Blockchain technology not only supports new applications but can also help raise a healthy amount using an ICO to support innovation. Startups have generated billions of dollars this year through ICOs.

Crowdfunding is another popular way of generating additional funds for blockchain-related side hustles. With the help of crowdfunding, coins are sold in the market through an ICO, before the launch of your application publically.

Bitshare is among the many popular coin networks which used crowdfunding to expand their network. Apps and services providers using blockchain technology have frequently used this same pre-sale method to generate funds. This method involves coins being sold in an open market, investors hope that the application or service will gain popularity in the future – which will increase the price of the coin.

The blockchain revolution has almost changed the business models of several startups. Yasir Drabu, a computer science researcher, with the help of a few friends, invented the SEG machine. This machine is a revolutionary way to generate power from the ambient energy that surrounds us at all times. Yasir and his colleagues, however, didn’t have sufficient funds for marketing and other operational purposes. The arrival of blockchain technology and the invention of tokens, however, paved the way for the generation of funds to support their business expansion.

Yasir set up a new platform called UE platform to issue UEC tokens. He used Ethereum-based blockchain technology to develop his revenue model and announced he would distribute 50% of revenue to coin holders.

Conclusion

Blockchain technology is turning out to be a new source of income generation for side hustlers. In fact, it presents an opportunity for any entrepreneur who is looking to generate a handsome income from their side business. By investing only a few hours a day learning about blockchain technology, side hustlers can become full-time blockchain professionals and entrepreneurs.

About the author

MicroStartups

A team of writers and marketers, MicroStartups was founded to inspire the entrepreneurial and business community to give back. We believe in business growth through giving and supporting the local community.

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