Blockchain

If everything will be decentralised, how will you make the profit out of it?(business point of view)

Not everything of value must be monetized (or can be).

If you have million dollar today to work on blockchain technology what business would you get into to get appropriate profit in near future?

I wouldn’t. I would focus on a business idea, not on a specific system or technology. If my business would benefit from specific systems or technologies, I’d research them and incorporate them in my business plan. Let’s take another technology for example: encryption. Nobody goes around saying, "I’m going to start a company based on encryption technology." Well, maybe a very small number of people might do that, but they would do so only if they are a very technical group and have made some sort of breakthrough in the field. Someone might say, I have a business idea for an encrypted messaging platform, sure. But the business value comes from making something useful, and the technology would help to implement the platform. Blockchain is similar to encryption here. It is a useful idea that can add value. But it doesn’t make sense to start framing business plans around it. Make your business plan first, then build in ideas and technologies that support it. If your business plan does not involve transactions among users, I really don’t think it makes sense to think about blockchain.

P.S: You are not a tech company and just want to enter in the field.

I don’t see how this is relevant. Can you explain what you mean? Plenty of companies that that would not be classified as technology companies still use technologies.

Blockchain is largely an overhyped concept peddled by a cult-esque following whose promotional points sound worthy of zombocom.

There are a small number of novel uses for it, but it's nowhere near the magical wonder tech it's perpetually portrayed as. The grift is very real.

The best summary I read of blockchain technology is that it's a solution in search of a problem.

There are some interesting applications for a decentralized, tamper-proof register, but 99.9% of applications being thrown out there are pure fluff meant to make money off a bunch of greedy bastards who want to get rich quick. Until the technology sheds its Internet-era Lambo hunters looking to get rich quick, the blockchain will never get anywhere useful.

I'm still learning about the blockchain day by day and it's quit interesting to try to "predict" the future use of this technology. But i have my own doubts.(maybe I'm still lacking in research)

It's great that you're thinking about how we can and will use blockchain technology in the future! I don't know your current level of background in this field, but there are some great resources out there to learn more. At the moment, I recommend Bitcoin and Cryptocurrency Technologies by Narayanan et al. as a starting point, and their pre-publication draft is freely available on the authors' website. However, you should note that this book mostly covers Bitcoin and only has a bit of material on smart contracts and other cryptocurrencies, so you'll need to broaden your search if that's your interest.

Before I answer your questions, it's important to distinguish blockchains and cryptocurrencies. A blockchain is a data structure used to authenticate a sequence of events (i.e., associate "snapshot" representations of the events in a way that allows us to prove the order of those events). A cryptocurrency is a currency that uses data structures like blockchains (umbrella terms for these data structures include cryptographic data structures or authenticated data structures) to record events (and in particular, transfers of the currency from one party to another).

In the past, blockchains and other authenticated data structures were used for applications like tamper-proof logs (recording events so that they could not be retroactively created, changed, or deleted) or timestamping services (showing that data or files were received at a certain time). These applications relied on a single trusted server (or set of servers controlled by one entity).

In my opinion, the important insight to get from blockchains to a cryptocurrency was to realize that by recording transactions in a blockchain and creating an incentive system (mining) to facilitate the creation of new blocks (i.e., record new events), a public and open community could maintain applications such as what I described above. (This is a vast oversimplification, and there are some clever and critical insights in the mining system, but from the currency perspective this insight was the important one.)

Now onto your questions:

If everything will be decentralised, how will you make the profit out of it?(business point of view)

That depends on what you mean by "decentralized" - it's a term with many nuances, and I've seen many discussions where two sides disagree because they're interpreting this word differently.

For your question, I'm going to assume that you mean the decentralization of services - that is, rather than paying a single entity like Dropbox to store your files, for example, you make multiple, smaller payments to other individuals who store your files on their machines. (Again, this is an oversimplification and perhaps not the strongest example, but hopefully you get the general intuition.) In this case, there's still a flow of money, and there's little to stop a group of users from banding together to collectively provide a service.

There are many benefits to using a service run by a single entity, not all of which can be easily recreated using a group of peers. While perhaps a controversial example, I think that payment processing is a good example. If Alice and Bob both have the same bank, it's much easier for the bank to just update the account balances of Alice and Bob than for Alice to send a cryptocurrency payment and wait for the network to clear the payment (though there is a lot of work going into speeding up this process). So to answer your question, (1) it might be a long time before everything is decentralized (and this will probably never happen), and (2) there are still ways to make a profit, just not at the scale that a large single entity would be able to do under comparable circumstances.

If you have million dollar today to work on blockchain technology what business would you get into to get appropriate profit in near future?

My personal advice is to really learn the field well. This is difficult because it's a rapidly changing and extremely broad discipline, but in my experience, the people who can design a blockchain application, defend the use of blockchain for the application, and articulate the technical, political, and economic tradeoffs in their design are few and far between. With the growing interest in this field from individuals with a poor grasp of computing, economics, policy, or some combination thereof, and from big players who are still catching up to 21st-century technology, we need more experts (especially unbiased ones) to be the voice of reason.