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Nov 29 • 31 mins

What do you know about Blockchain startups?


Blockchain startups

Blockchain technology is as compelling as the Internet itself from the time when it was considered to be overhyped till now when it has become an essential part to many industries including finance, health care, supply chain and whatever business you are doing to elevate its prowess and guarantee growth in the long run.

This go-to technology has already been implemented in a number of processes at a high level and increased the performance efficiency exponentially of such market giants as Walmart, IBM and more.

The aim is to convey the idea that blockchain could be integrated into businesses of any size. No matter what industry you are in, it will yield results.

While well-established businesses are transforming their working processes by blockchain employment to be in compliance with the modern world, startups that want to get the ball rolling should not underestimate the positive impact blockchain has.

This article is about what blockchain is and how effectively it operates in startups to make it thrive.

Let’s shed light on how you can implement blockchain into your startup, but first let’s dive into the concept of blockchain.

What is Blockchain?

A blockchain is a ledger that is distributed across the nodes of a computer network. The transactions occurring on the blockchain are stored in blocks that have a certain capacity and once they are filled, they are closed and linked to the previous blocks creating a chain that keeps records in chronological order. Hence you have complete data traceability. 

The records are stored in a way that it’s difficult or even impossible to change, eliminating the need for trusted third parties that, in turn, cuts down your expenses on administrative personnel.

Steps to create a blockchain startup

A vast number of entrepreneurs all over the world have started to capitalize on the crypto industry in recent years, that’s why cryptocurrency startups are popping up everywhere, but the truth is that without the proper consideration of all the development stages, the project takes the risk of being fruitless and fall through the cracks. Below you can see the steps that will take your crypto or blockchain-based startup off the ground:

Research and understand the market trends

First, it’s important to understand how the crypto industry works. A thorough investigation about the market trends  has to be conducted, this will help you to understand in which way to develop your business and what problem it will solve.

Create a blockchain prototype

Once you have understood how the crypto business is operating, it’s time to create a prototype or MVP (minimal viable product) to assess the project’s feasibility by testing it on prospective users that gives you the possibility to refine the project before the mainnet launch.

Understand blockchain features

Blockchain technology has a great deal of features and if you have a clear understanding of how to use them it will help you to integrate them into your startup in an effective way standing you out of the crowd, here they are:

  • Security. This defining characteristic of blockchain ensures the security of transactions thanks to its decentralization, immutability and consensus;
  • Distributed agreement. There’s no single authority being in charge of a database, thus presenting only one version of truth that is agreed by all the network participants; 
  • Immutability. Once the blocks are created they cannot be changed preventing fraudulent behavior;
  • Transaction verification. Only the transactions that have undergone the verification process are added to the block reducing the risk of payment fraud;
  • Smart contracts. These are programs that allow to strike up an agreement and have it automatically executed once the predetermined conditions are fulfilled;
  • Cryptocurrency. Blockchain generates crypto to incentivize miners who incur costs during transactions validation in order to secure the blockchain.

Select the best blockchain platform

You should choose the most suitable to your startup platform where developers can create unique and secure applications. There are various free and open-source platforms, the most popular of them are: Bitcoin, Ethereum, Hyperledger, Corda, and so on.

Choose the most promising niche

Digital currencies were the first application of blockchain technology without realizing its true potential. In fact, it can revolutionize almost every sphere of our life, including healthcare, IoT, transport, government, finance, etc.

Review the development stages

Reviewing the development stages will help you to assess the progress of your startup and identify what should be improved, these stages are: installation and setup, granting access, creating a blockchain, contracts and making an application.

Find the right team

If you want your startup to be successful, it’s advised to have a well-versed and passionate about the technology team on board. Although talented specialists in the blockchain sphere are difficult to find, it’s worth the time and effort to find a skilled team that will create and launch a future-proof project.

With following the aforementioned steps, your startup is to make a breakthrough in the digital world.

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What can blockchain do for your startups?

Can make you early adopters

The blockchain technology is still in its infancy and there are a lot of critical elements that will have to be addressed before the mass adoption of blockchain. So, the startups that will break new ground in blockchain are likely to be at the forefront in the industry and have an edge over their competitors – something that is vital for all startups working in the same domain and trying to solve the same issues.

Can replace antiquated processes with digital systems

Numerous startups use some sort of legacy software or other outdated infrastructure that not only increases the cost of doing business, but also creates inefficient methods of work that hinders the development of business. For example, the prevalence of manual work brings about human errors or discrepancies are found in the reconciliation process that takes a lot of time to fix. With blockchain startup the workflow is streamlined by data decentralization that eliminates human interaction from the data collection process.

Can secure their data


Companies of all sizes and across various industries are concerned about cybersecurity and the global costs for cybersecurity-based services are estimated to increase by $1 trillion in the coming five years. With blockchain all the data of an enterprise is gathered in the ledger and encrypted so that one is granted access only after the verification process. Due to its distributed nature no manipulation could be done by a single entity without notifying everyone in the network that makes it difficult for hackers to infiltrate, and that is something that turns control of data over to its actual users. 

Cloud storage that is dispersed

Blockchain keeps your records safe during data transfer and in nodes making it immune to malicious activities. Distributed cloud storage system appears when all the elements of cloud storage are gathered together in the blockchain ecosystem. Once that happens, each action like access to data, its retrieval or making changes is traced by all members of the network. 

Digital Identity Protection

With the risk of fraud and data misuse being increased, the issue of digital identity protection is put today on the agenda of many visionary companies. Nobody is completely safe from the identity being leaked on the Internet or in the hands of hackers. Blockchain can be used as a platform to protect digital identity and solve the problems of authentication and reconciliation processes that many companies encounter. More so, it’s possible to create encrypted digital identities instead of usernames and pin codes.

Benefits of using blockchain for your business

Realizing the benefits of blockchain is immensely important to determine how it can yield benefit to your startup. Below is the overview of the benefits the technology offers:

Payment and money transfer

payments with blockchain

Blockchain is destined to transform transactions with its real-time payment solutions, saving a significant amount of time and money since money transfers are handled automatically in a middleman-free manner eliminating redundancy in operational processes. 

Contracts creation and abiding

Starting any business you will have to create a number of contracts with third-party stakeholders and blockchain with its smart contracts might come in very handy to help you establish binding relationships, verify the data and automate the process of concluding deals.

Supply chain management

There’re a number of ways in supply chain management where blockchain is used:

  • Establishing trust. Basically, blockchain has an enhanced level of trust due to its construction nature that is vital for business. For instance, the records on blockchain couldn’t be altered and everyone on the chain is granted access to all the blocks;
  • Cost reduction. The administrative processes are time and money-efficient since they are accomplished automatically on blockchain without any middlemen;
  • Provenance tracking. Blockchain provides a comprehensive information of the product in all stages of a supply chain that enables tracing the history of the goods and detecting fraud in any part of the chain.

Quality customer support

Businesses can provide customer support on the basis of blockchain in two ways:

  • Data cleansing. Sometimes CRM users have to deal with inaccurate or duplicate information due to human negligence or inapt tools for data import. And here blockchain comes into play by offering a separate block for each customer containing information about past transactions, subscriptions, and so on. As a result blockchain helps to circumvent the issue of inaccurate data that in its turn provides better customer experience;
  • Loyalty programs. Customers will have a decentralized wallet consistent with all brands meaning that you won’t be limited by rules of a particular brand.

Advertisement and promotion

Promotion is ignorable by many startups, although they require awareness in the market. In fact, the traditional advertising industry is full of loopholes that incurs unnecessary costs. Blockchain has the potential to overhaul the advertising process in a number of ways:

  • Verification of clicks. The problem of online advertising is that it’s unknown whether the clicks on the ad are made by genuine buyers or paid clickers. With the transparency of blockchain advertisers can even see whether the clicks are coming from their targeted audience or not;
  • Ad verification. Sometimes people may click on the banner in facebook showing one information and after going to the website you see a completely different information, to escape this you need to incur costs on auditing ads. However, blockchain helps to ensure that the actual information on the banner is the same as in the ad itself.
  • Ad inventory management. Ad inventory is a space for placing an advertisement 

with a great deal of management work to be done, that if done manually is time consuming. By implementing smart contracts brands will manage the inventory better.

To generate funds

One of the signs of success for startups is the ability to receive investment. The preferred way of fund-rising these days is Venture Capitalist, but ICO (blockchain-backed model of attracting investment) is likely to replace VC for a number of reasons: there’s no geographical boundary, the process lasts for about 30 days, that is quite speedy and the requirements towards entrepreneurs presenting their projects are not so strict as with VC .

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Challenges startups will have to overcome

Complexity in regulations

One of the biggest impediments for entrepreneurs getting ready to launch a blockchain startup is the lack of regulations safeguarding them in case something goes wrong. While there are some regulations towards blockchain adoption being prepared, the time when we have real regulation in place is still far off.

Presence of legacy systems

Startups that want to use blockchain as an enabler or element behind the product will have to have a DLT-infrastructure that requires a certain level of technical expertise and capital. So, the solution is investing into skillful blockchain developers who know how to integrate blockchain into the existing system.

High hack incidents

Against a backdrop of high-profile hacks related to blockchain which result in a loss of money, enterprises are reluctant to adopt the technology.

The way out is to employ a private or permissioned network instead of open or permissionless that implements role-based access control making the network highly tamperproof. 

Steps to starting a crypto startup

Before you go all in on launching a startup, it’s crucial to think about the process from start to finish.

Identify a problem that needs solving.

Define the industry you want to revamp with blockchain and the problem you will solve in order to articulate a value to capture interest in your startup. Establishing the objectives at the beginning and identifying the target audience will help you to envision a go-to-market strategy and understand the tech needs. 

Create a white paper outlining the idea (i.e. a solution to the problem) and how it will work. 

Want to have some coin to get your startup off the ground? Then you need to create a white paper describing the problem, the solution and all nitty-gritty details of your product. A white paper plays a pivotal role in defining whether it’ll be a lucrative project or the one that fails. It will also give credibility to your startup with the purpose and applicable technologies being spelled out.

Find or create a team of developers to build the platform.

If you want to take the cake you need to get developers on board since they are a key to a project. Your solutions couldn’t be turned into reality without tech expertise. Blockchain may be complex, but it shouldn’t be so for users. So, a well-versed team of developers can be a bridge between your product and a customer offering a seamless user experience.

Raise money through an ICO (Initial Coin Offering) or VC funding.


A plethora of investors today are eager about getting in at the ground level of new and future-proof ideas. Both ICO and VC are ideal for fundraising in crypto space. With ICO you have more freedom, no geographical limits and no need to present a whitepaper with a detailed description of the product. With VC you have more strict requirements from the investor’s side, but you receive their loyalty, business guidelines and valuable connections.

Develop the company and buy/sell tokens (hooray!)

Once you go through the aforementioned stages, you are ready to venture into the market and bring innovations to the industry. 

Blockchain technology startups – top 5

blockchain technology startups


The solution that allows you timestamping of the files that you upload to the public ledger and everyone sees that it belongs to you. There’s a possibility to integrate a cloud-based storage system like Google Drive, Outlook, OneDrive, and etc.


Premium service known as Etheruim API that allows you to seamlessly connect with the Ethereum network without high-level technical expertise and create apps of any size.


It offers a comprehensive set of blockchain services such as blockchain consulting, hybrid ledger installing, tokenization and  smart contracts. 


The company offers financial solutions for the Bitcoin ecosystem representing a peer-to-peer system that removes the need for intermediaries.


This startup allows developers to identify vulnerabilities in smart contracts within the Ethereum network. On top of that it encourages the use of cryptocurrency since you may pay for a subscription by a stablecoin.

Blockchain healthcare startups – top 5

blockchain healthcare startup


The company created a blockchain-based application where users can check the legitimacy of drugs when purchasing thus solving the problem of bogus pharmaceuticals that entail drug-resistant diseases and antimicrobial resistance.


Clinicoin encourages people to do physical activity by rewarding them with tokens. Customers have to register their activity in the app and verify them by third-party tracking apps.


Medicalchain leverages blockchain to securely handle patient’s medical records for a collaborative purpose by accumulating the most recent information in one place and sharing it with each organization in the network.

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Solve.Care solves the issue of high administrative expenditures by utilizing blockchain technology directly connecting healthcare facilities with medical staff and giving them the opportunity to set the desirable working hours.


Dentacoin is basically a cryptocurrency that connects dentists and patients. Dentists are compensated for their services while patients are incentivized for taking care of teeth and having good eating habits by Dental coins rewarding.

Blockchain real estate startups – top 5

blockchain real estate startup


A data-driven service platform offering a transparent and highly customizable real estate purchasing experience. The company has also partnered with numerous European property listings in order to provide clients with the updated database of properties available.


The company utilizes smart contracts to execute real estate purchasing and rental agreements by establishing protocols, and in case the predetermined conditions aren’t met, the contract is automatically dissolved.


An investment company that offers opportunities for low-cost investment in the real estate sector. In this case customers become investors eliminating the dependance of external capital.


The solution to the increasing wire fraud that real estate agents, firms and customers have to grapple with due to hackers attacks. The platform works on the blockchain network providing security to transactions from the time they are sent till the moment they are received.


The network for real estate renting solutions where owners easily rent the property out within a centralized network. More so, you can find home maintenance services like household repairs.

Blockchain finance and insurance startups – top 5

blockchain finance and insurance startup


The company streamlined the underwriting and claims process through automation that has led to reduced completion time, precluded illicit transactions and fraudulent claims enhancing the trust from client’s side.


The company offers insurance to renters and homeowners, the basic idea is that the company takes a fixed fee each month from payments and the rest is allocated for future claims. Once the claim is received, it’s verified through smart contracts and the client gets compensation quickly.


This is a peer-to-peer insurance company running on the Ethereum network focused on unemployment insurance. Policy applicants need to present their LinkedIn profiles, and the unemployed will be verified through blockchain with further issuing of insurance payout.


It is a staking option on the Ethereum network that allows staking with less than the required minimum making it more accessible for people who do not have a coding background and find staking risky. 

Dharma DeFi

Dharma Labs is a wallet on Ethereum directly connected with your bank account that functions as a bridge between your traditional banking system and decentralized finance. 

Blockchain supply chain startups – top 5

blockchain supply chain startup


Slync offers a suite of supply chain applications based on AI and blockchain-enabled software that are integrated to the platform via APIs. It enables transparent and error-free traceability of goods.


Bext360 is a coffee supply chain management solution offering a complete traceability of goods through tracking from source to the end user. Special kiosks check the grade of beans using AI to set a fair price,moreover, APIs are given to wholesalers and retailers to facilitate marketing and loyalty programs.


Everledger offers an immutable ledger for diamond identification through which you can have a complete provenance of each diamond including rough state, allotment, polishing and certification. The risks of insurance fraud for diamonds are mitigated. 


Chronicled tackles the issue of counterfeit limited edition collectible sneakers and luxury goods. The platform is built on NFC and blockchain technology, and offers a mobile app where you can see an open and decentralized record of product authenticity.


It’s a provider of a marketplace that connects all parties across the entire finance ecosystem. The company provides various working capital solutions such as inventory finance, supply chain finance, accounts receivable, and etc.

Blockchain agriculture startups – top 5

blockchain agriculture starup


LivestockCity is a farmer’s tool that connects farmers from all over the world, SaaS-based management software enables farmers to manage animal records and expenses/income, the streamlined ways of buying farm related products are also in place.


A place where you can rent and farm micro fields across the globe without any trusted-third parties. You can see the data on a website or in a mobile app, the data is automatically analyzed and the system makes signals on how to optimize the process.


This is the platform for buying and selling used machinery and equipment. The startup is adept at using the technology for connecting buyers and sellers and facilitating transactions.


iUNU utilizes computer vision to make indoor farming and commercial greenhouses more efficient and autonomous that will have a positive impact on nutrition across nations. 


A farmland investment platform that provides access to farmland as an asset making it an attractive investment tool provided by low volatility level and 10% returns per year.

Blockchain logistics and supply chain startups – top 5

blockchain logistic startup


The cloud platform Azure of Microsoft helps to track goods in the supply chain using blockchain technology that enables the compliance to standards of pharmaceutical and perishable food companies.

Blockchain in Transport Alliance (BiTA)

BiTA was created as a forum for logistic specialists to discuss the ledger technology implementation and shed light on blockchain benefits in the logistics industry.


The company is developing software to make the logistics more secure and transparent. With T-Mining only authorized users are allowed to carry cargo, the workflow is automated by smart contracts and document digitization, the data exchange is secured that creates trustful cooperation.


MuleChain is a smart contract-capable delivery network that enters into an agreement with the mules heading for the same destination. MCX tokens are put up as a collateral by both parties, after the shipment is completed mules receive the tokens as a payment. 


The blockchain is destined to optimize the issues of cash flow with its digital ePOD (Electronic proof-of-delivery) providing hard evidence of cash flow as well as the contracts that have initiated the transactions.

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It’s clear as crystal that the technology that was once associated only with cryptocurrencies, today has a world-wide scale and reach, making waves in almost every industry. Companies are facing a need to be reformed to stay ahead of the competition, and blockchain technology stands to overhaul business processes by making them more secure, efficient, transparent and cheaper, with fewer middlemen.

It’s nice to see that startups today are not just trying to take their market share without being useful to society, instead they are taking strides to solve the issues of developers and communities in the blockchain sphere.

Since blockchain is at an early stage of the development, its integration into a business requires a high-profile tech expertise that’s why it’s crucial to have top-notch professionals on board.

At NDlabs we design and develop blockchain solutions tailored to your needs. Contact our team of blockchain developers and they will help you to build feature-rich and robust blockchain software solutions for your startup with minimum risks and maximum returns. They can develop either a full-fledged solution from the ground up or migrate your existing system to a new operating environment.  You can also contact our consulting team to have a clear picture of why and how blockchain can benefit your startup.

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    About the author

    Dmitry K.

    CEO and Co-founder of ND Labs
    I’m a top professional with many-year experience in software development and IT. Founder and CEO of ND Labs specializing in FinTech industry, blockchain and smart contracts development for Defi and NFT.

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