Bitcoin And Crypto Business Ideas That Will Make You Money Quick
Blockchain I am super excited about what’s happening in the world with web30 blockchain NFTs and crypto so if you are thinking of starting a business that has a good chance of taking over the world in the next 10 years just think about this 106 million people around the world use cryptocurrencies 46 million Americans use cryptocurrencies.
13 bought or traded crypto in the past 12 months compare this to 24 buying or trading stocks institutional investors now hold over 70 billion dollars worth of crypto and if we think about bigger companies like tesla square they have some of their assets in bitcoin.
The thing is two or three years ago when everybody was hyped about bitcoin I was really sceptical I was like okay I don’t see why is it going to stay maybe it’s just another hype this time I think it’s serious and you might disagree but it seems like there are too many institutions too many people holding on to crypto and there is just so much innovation going on with web3.0
And I’m going to explain in a minute what this is so I think blockchain is here to stay and this technology is something that is really transforming our world and it looks super exciting we’re gonna look at different markets and how they’re currently being transformed with the help of blockchain and uh because there are so many people holding crypto.
Because there are so many people coding bitcoin they’re already consumers on this market uh there are already companies that are started every single day and if you want to take part in this movement I am hoping that I would inspire you with some ideas okay let’s do some basic explanation first of all when we talk about bitcoin it is a currency.
So basically you can buy stuff in exchange for bitcoin but there is something a bit more exciting happening in the network called Ethereum because here ether is actually a smart contract and when you think about it like think about the way lending works right now so here’s the bank here is a contract that you sign with the bank.
And this is you taking money from the bank you take a loan a hundred bucks and then you have to return say 105 bucks in a year the way it works right now everything is in the contract and you have to manually transfer money to the bank.
If something happens a bank takes you to a court or whatever collectors and then you manually go through the contract and the judge decides who takes what blockchain makes it a lot easier when we talk about a smart contract there is you there is i know somebody else or an institution uh that you’re borrowing money from dollars or bitcoin.
Whatever so when you take a loan there’s already a contract established that would automatically take money from your wallet give it back to the institution so basically there is no intermediary so everything happens fast and automatically let me talk a little about web3.0 because a lot of people are excited about it and by no means I’m an expert in here.
What is Blockchain Web 3.0
Um, I’m just explaining the way I understand things and again to me it looks pretty exciting now what is web3.0 web one zero is a world where you just had random websites like thinking yellow pages you had a website for Stanford you had a website for a club whatever web 2.0 is where we are right now mostly most of the world social networks user-generated content.
Marketplaces all of these like Airbnb for something uber for something and the problem with web20 is there is censorship um social networks they own the data like as a creator I don’t really know who’s following me say on Instagram I kind of know if I just uh explore somebody else’s profile but if I wanted to see like how many developers from silicon valley are following me.
I won’t be able to do that because again a social network owns all the content so you can really access it in web30 you own your data there are already projects evolving where your creator but then you know everyone who’s following you and another thing that is happening in web3.0 you don’t need intermediaries to remember smart contracts.
Smart Contract and Web 3.0
So basically if we think about Airbnb when you book an apartment on Airbnb Airbnb first of all it helps you discover apartments but it also helps you with insurance like if you come to this place and it’s crashed you call Airbnb and tell them like hey this listing is not valid in web3.0.
When you rent this home you rent it through a contract through a smart contract or whatever and you can actually see who already stayed in this house you can see all the reviews because there is no way you can fake this information on web30 everything is transparent and in this way you don’t really need an intermediary you don’t need a regulator to tell you that.
Oh, you have to transfer money to this person because if you owe somebody something it all happens automatically so we’re entering the world where everything is regulated by smart contracts where we don’t need intermediaries might be scary but I also think it opens up a lot of opportunities that we’re going to talk about right now.
We’re going to talk about industries that are being transformed with this whole web30 blockchain thing let’s dig into it you might say marina but what if everything crashes what if the market crashes again as it did a couple of years ago the thing is I like to look at our history and make parallels.
Web Internet and Dot-Com Crash
When we talk about the internet as we know it today web 2.0 a lot of companies started in 1994 1995 and then early 2000s everything crashed there was this dot-com crash but the thing is the companies that survive the dot-com crash amazon eBay are at the top of the world with the highest valuations right now.
And if you believe that web30 is here to stay right now is the best chance to start a company and believe in your idea in a way that you will be able to continue going continue working on it even if everything crashes because there is a big chance it’s going to blow up after that market number one that is already being transformed.
Uh by blockchain is actually real estate one of my friends started a company called poppy which is real estate and blockchain so what they did is actually really cool one of the things that they’ve done is actually turn an apartment into an NFT and NFT is a non-fungible token think of it as a contract to own an apartment the ownership of an NFT can be verified online.
It’s a piece of open information and uh we’ve heard a lot about NFTs as crypto punks that people buy for hundreds of thousands of dollars and the value there is the image itself and also belonging to a club but here the value of NFT is actually owning the apartment.
So the NFT is the smart contract to own a real piece of real estate and they’re doing a lot more so they are helping you save on fees I think they help you save one to two per cent on the closing cost because they’re using blockchain because they’re using smart contracts so real estate is the industry.
Crypto Blockchain and Creator Economy
I will pay close attention to if you’re thinking of building something on blockchain now let’s talk about my favourite creator economy and the way it can be transformed in the web 3-0 let’s talk about musicians and the way the industry works right now you’re a musician you want to produce an album you go to a production company like sony music universal.
Whatever and tell them like hey guys I’m a talented musician I want to start my own album and be like okay we’re going to give you one million dollars I’m not sure about the details but basically they’re gonna give you like a million dollars so you spend the whole year writing music using their studios but then you’re gonna make maybe like 20 of the sales.
And they’re going to take the rest and they also help you with distribution which made a lot of sense earlier when means of distribution were radio television and you couldn’t just get there without knowing people what happens these days you’re a musician you start you is it correct tick-tock account you start your youtube you start your Instagram.
NFT Benefits Holder
So you already have your distribution you have your followers and in order to produce an album you still maybe need one million dollars but instead of going to a company that’s going to take 80 of your revenue whatever you go to your fans, you say hey guys I’m working on an album and I’m looking to crowdfund one million dollars but every song is going to be an NFT.
This means you’re going to be able to not only own part of the song but you also will be able to share part of my income which is still grey area because when you promise future income this is where sec comes in so there are things to be sorted out but if you just distribute bonuses to NFT holders.
So every song is an NFT and then like you release your album and you start making money and then you’re like okay because these people gave me money upfront they are believers and fans they give you money not because they want 80 of the revenue necessarily I would support my favourite artist just because I want to be part of whatever he’s creating.
So yes first of all for a fan this is ownership and this is also an ability to kind of get some rewards later on because rewards are a big thing in crypto like I’ve recently purchased a couple of dot e t h domains and about what it is but basically, some of the owners of these domains got some rewards they distributed like two billion dollars among holders.
This is super cool and this is the way the industry works so basically those fans not only do they own their favourite artist’s music but also later on when the artist goes ahead and makes 10 million he’ll be like guys you supported me early on I just want to distribute 5 million among you guys we have 3-0 and creator economy again there are a lot of apps that are evolving.
Right now there’s mirror XYZ where you can fund um written content uh we’re working on something where you can fund video content there is royal a startup that helps you get funding as a musician but basically, a lot of things are going on and there’s another company basic attention token.
That lets you make money by watching ads something that I can’t imagine on youtube right now so when you watch ads on youtube you as a viewer don’t make any money but again web3.0 is changing that as well creator economy and web3.0 this is one of the most exciting markets at least for me because I’m a creator.
Crypto, Blockchain in Web 3.0
Another transformation that I’m super excited about is a transformation that might happen to our ideas and the way we would so when we think about again web30 blockchain we talk about anonymity but also if we decide later on that there is a meta mask that’s anonymous and let me explain a little bit.
So meta mask is this wallet we have wallets right now but it only holds our money meta mask holds information about us it holds the amount of money that we own it holds information about NFTs that we own and NFTs could pass could be ownership etc.
So basically with meta mask if you buy something like a membership in a club you take it everywhere with you let me explain this using games so you could understand it better like if I play the sims and I buy some outfits for my sim I can only use it in that game if I decide to play something else like I don’t know warcraft or whatever.
I won’t be able to necessarily take that outfit and wear it in another game there is no transferability blockchain changes it if you own something it’s with you on any single platform and this is why like we’re talking about digital clothing if I buy a Gucci outfit I can wear it in different metaverses this is the basic explanation.
But if we think about an id like for example I have a meta mask and I decide that it’s going to be my id from now on so it holds information about apartments that I own host information about what I voted for it holds information about how much taxes I paid I don’t need anything.
Meta Mask Holding
This means that whenever I decide to travel I have to create this pile of documents to prove that I’m not gonna be illegally living in great Britain like every time and I apply like every two years I apply for a UK visa and I have to improve my income i have to prove my ownership of different like real estate.
I have to basically prove that I’m not going to be illegally working in great Britain so travel is a nightmare when you have to get a visa what if we all have this id that has all the information and I just log into whatever great Britain metaverse and they scan my idea and they’re like okay they see all the information about the previous trips I’ve never illegally stayed in the country.
Here is my track record regarding steps or whatever no criminal record and I’m automatically granted access again because it’s blockchain I won’t be able to create fraudulent information about myself I won’t be able to say that I own something without actually owning it just think about this world.
Where everyone has this digital id everything is transparent you know everything right away no visas easy voting easier access to things faster approval it’s just I’m super excited about that I want you guys to brainstorm with me because again this is super new but the task kind of tasks for brainstorming.
The Risk of intermediary in Web 2.0
Let’s think about the industries that need transparency that needs verification and they still require intermediaries to operate in those markets again we talked about renting an apartment Airbnb right we need this intermediary we talked about visas like you to need a consulate to actually verify all your bank statements.
What else can be there healthcare transferring all the records you know when I applied for life insurance they actually asked me for all the hospitals that I went to they asked me about all the chronic diseases that I have what if we have a separate meta mask for healthcare.
So that anywhere we go we log in with our health care meta mask and they see our medical history education same thing right now if I claim that I graduated from some university how do you check if you have to call the university this is what you do because a lot of people claim things on LinkedIn.
Meta Mask Brainstorming
Which are not true again meta mask for education and it could be one meta mask for everything I’m just brainstorming meta mask is, by the way, their trademark I guess meta mask for education where you hold all of your degrees where you hold all the certificates of the courses that you passed.
So like a passport for your education what else could it be banking like right now bank actually owns your money something happens they think you made a fraudulent transaction they block your account the funniest thing that we’ve been through is we use this credit card processor with lingua trip and then one summer our revenues like quadrupled in a month.
They blocked all of our accounts because they’re like we don’t believe that this is your business doing well maybe you just started I don’t know selling drugs or whatever they blocked all of our accounts for two weeks and we’re an incredibly operational business.
Crypto, Blockchain and the Financial Changes in Web 3.0
So when we receive the money we need to send them to educational institutions so we were struggling to the bank will be changed forever with blockchain I bought crypto but there is like block fi instead of paying 0.1 per cent or whatever 0.7 whatever banks are paying right now 0.7 on your money block 5 pays you 12 and subject to their terms and conditions.
But anyways you can deposit USD which is tied to us dollar and get 12 on your money instead of getting this like the financial industry is already being changed again guys I am super excited this all sounds really new and really cool we’re gonna see what’s gonna happen to this whole world maybe again.
We’re gonna have another crypto winter and everybody’s gonna say it is a scam but because of the technology behind this I think it’s just you know it is a really cool future uh verifiable transparent open world it’s amazing I don’t know about you but I’m super excited about web3.0 blockchain just because of the technology that’s behind it yes there will be a lot of scams.
A lot of projects are gonna crash a lot of coins are gonna crash and people would again talk about crypto winter and uh this all being kind of a glitch in the system but when you think about a transparent world where everything is easily verifiable.
where you can carry your digital assets with you in different meta worlds I think I played too much of the sims back in the day but all of this sounds super exciting to me we’ll see what’s gonna happen.
but if you are as excited as I am I’m looking forward to reading your comments about the industries that are going to be transformed and I’m looking forward to maybe using one of your business ideas as one of your companies later in the future.