Financial Intelligence

How to Commence your Blockchain Startup: Part One

An ordinary situation: you want to buy some specific item, but it’s not available in your local shops. You go to online stores and find what you want most. But the online store that has it is unknown and has received no feedback. Would you send money in advance without knowing if the item will be delivered? Moreover, you don’t even know whether the item is of the desired quality. Sounds familiar? Certain issues of trust arise. Lots of fraudsters use this situation to rob trusting buyers. Trust falls; fear grows.

What if there was another way to get what you want from any place in the world?

Imagine you find the desired item, strike up an agreement with a seller, and just get the item from the post office. Of course, a smart contract is valid only when both parties comply with its conditions. So first, you need to bring the crypto currency into the smart contract. However, it is not as usual when money is transferred directly to the seller’s wallet, and you are left wondering whether you will receive the product or if it is a scam.

A smart contract manages this money according to the rules described in advance. Of course, you need to be prepared before you sign such a contract. The seller, the buyer, and even the smart contract have their own digital wallets. Cryptocurrency is used directly between wallets.

So, the buyer has to take care of the wallet contents in advance. For example, cryptocurrency can be mined or bought on the online currency exchange platform.

Read Also: Six Types of Start-ups in The Business World

You say it’s some kind of ghastly future. Well, the future is now. Similar contracts are already in effect. Who’s in charge of such transactions? Blockchain is the technology that smart contracts are based on.

Blockchain’s popularity grows every day. A huge number of articles have already been written about it. 1,703 discussions in Stackoverflow and thousands of questions on Quora contain the word “blockchain.” This graph from Google Trends depicts the dynamics of blockchain topic popularity.

But tell me the truth, do you really understand what’s all the fuss about? They say it’s the future, and no hacker can beat it. Let’s figure out what the future holds.

Leave this page immediately! Otherwise, at the end of this article, you’ll know the whole truth about this breakthrough technology, from the concept of blockchain to the vision of your app based on this technology.

Simply about this bright technology, the already existing blockchain platforms, and the areas experiencing its benefits at the moment. And a little bit about practice—the stages involved in the entire creation process, as well as all of the wonderful benefits that blockchain provides. Honestly, about blockchain developers Interested?

Ready, steady, go!

About GetFundedAfrica

GetFundedAfrica is building Africa’s largest tech-enabled marketplace which connects African founders with global mentors, coaches, corporates, investors and government. Whether you want to raise funds ranging from $100k to $50m or you simply want to grow your business, sign up for free at

Adekunle Adebimpe

Start-up/Investor Relations

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