How can you identify the most promising blockchain applications with market research?

1 Define the problem

Before you dive into the technical details of blockchain, you need to clearly define the problem you are trying to solve and the value proposition you are offering. Market research can help you understand the needs, pain points, and expectations of your target customers, stakeholders, and beneficiaries. You can use qualitative methods, such as interviews, surveys, and focus groups, to gather insights and feedback from your potential users and partners. You can also use quantitative methods, such as market sizing, segmentation, and trend analysis, to estimate the demand and opportunity for your blockchain solution.

4 Communicate the value

Finally, you need to communicate the value and benefits of your blockchain solution to your target customers, stakeholders, and beneficiaries. Market research can help you craft and deliver a compelling and persuasive message that showcases the unique features and advantages of your blockchain solution. You can use storytelling, case studies, and testimonials to illustrate the real-world applications and outcomes of your blockchain solution. You can also use branding, positioning, and differentiation to establish your identity and reputation as a blockchain innovator and leader.

Market research is a powerful tool that can help you identify the most promising blockchain applications for different problems and use cases. By following these tips and methods, you can increase your chances of developing and launching a successful and impactful blockchain solution.

5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?