We’ve all heard the saying ‘don’t put all your eggs in one basket.’ It’s an adage that is as applicable to business as it is to any other aspect of life, and which is something that Estonia-based blockchain technology company, blockhive, recognizes more than most.
Many of the most successful companies in the world have seen their growth explode and their successes solidified even during times when the market has been underperforming, all down to being able to tap into various revenue streams.
We’ve seen companies such as tech giant, Apple, run their business with this model, relying not only on sales of iPhones and MacBooks but being able to generate revenue via their music and App services.
Relying exclusively on one revenue stream is as risky as investing all of your funds into one stock. If it crashes, you’re in real trouble.
One such startup that epitomizes the multiple revenue streams business model is blockhive, a company that incubates projects that have the potential to benefit from blockchain technology.
As well as being well-known for its ILP model that provides a viable alternative to the more traditional ICO model of funding, blockhive employs a number of revenue streams, ensuring its income is varied and not entirely reliant on one source.
Among blockhive’s range of services is eesty, a digital smart-wallet that allows users to earn cryptocurrencies while efficiently managing their digital assets. Users can also earn loyalty points, which come in the form of ESTY token which will enable them to buy hash power from blockhive’s mining facilities.
Also available is Eesti Mining. Started in October of last year Eesti mining is based out of the PAKRI Science and Industrial City, which is an Estonian facility that sources its electricity from renewable power and employs the use of a smart grid.
With electricity being an issue for many miners, being able to run their mining operation from Estonia, a country that boasts some of the lowest electricity costs in Europe is a real positive.
When it comes to the diversification of revenue streams, blockhive are also open to working in partnership with other companies, such as their joint venture, Tokenote, with Agrello.
Tokenote is a project that looks to provide the ILP structure as a solution for companies that require funding outside of the blockhive ecosystem.
In conclusion, all businesses should be looking at ways of diversifying their revenue streams, and when it comes to blockchain technology companies blockhive are certainly among those leading the way.
Lover of all things crypto, blockchain and AI, professional tech scribe & part of the editorial team at Crypto Disrupt.