6 Ways Cryptocurrency and Blockchain Are Changing Entrepreneurship

It's become impossible to ignore cryptocurrency and blockchain -- it's everywhere, and there is no sign of slowing down. As a result, blockchain-based exchanges of information and tokens are releasing a wave of new possibilities for entrepreneurs.

The rush to create innovative business solutions that are faster, more secure and more transparent is on. Blockchain is already contributing to real-world improvements in the world of entrepreneurship; here are six examples.

Related: 5 Essential Podcasts for Entrepreneurs Serious About Cryptocurrency

1. Increasing access to entrepreneurship education.

People of all ages and from all walks of life are becoming increasingly interested in entrepreneurship, and many simply don't have the time or resources to seek further education from formal institutions. Someone with a 9-to-5 job trying to launch his or her own business likely doesn't have time to enroll in an MBA program.

While formal education isn't a requirement, many new entrepreneurs seek flexible, reliable and affordable educational options to help them develop the skills needed to launch their businesses. SuccessLife is using blockchain tokens to offer video content, digital courses and personal coaching to aspiring entrepreneurs, covering topics such as management and investment techniques.

The token's immutable ledger and automatic smart contracts render the transactions that provide these educational opportunities reliable and cost-effective. Entrepreneurs only need an internet connection to access the educational content.

1. Unlocking crowdfunding opportunities.

One of blockchain's most newsworthy contributions to entrepreneurship is its effect on crowdfunding campaigns. In fact, blockchain startups raised $5.6 billion in funds in 2017, mostly driven by community campaigns. This blockchain-based fundraising model has proven so successful that it's attracting plenty of mainstream investment.

Despite the success of blockchain-centric crowdfunding campaigns, the traditional crowdfunding market is still extremely inefficient. Only 1.9 percent of campaign funds go to developing countries and 78 percent of campaigns fail to reach their targets. The lack of accessibility has led some innovative companies to combine blockchain with traditional crowdfunding to give power back to entrepreneurs around the globe.

Acorn Collective is one company providing a second-generation open marketplace for new ventures seeking crowdfunding. Any legal new project whose founder passes primary screening can make a pitch on the Acorn platform.

Blockchain makes the process transparent, safe and accessible from any region. On the platform, a crowdfunding engine helps entrepreneurs drum up marketing support, maximizing the chance of a successful project.