It’s time for the construction industry to get familiar with blockchain.
Blockchain, simply put, is a system that stores and records information between multiple users in a secure, clear, and robust way. From tracking supply chains, scheduling, contractors, and the synchronicity of all these factors, blockchain is the most useful and integral component for the construction process.
The carbon emissions from the construction sector are horrendous. Fueled by a sector that is highly inefficient, lacking any digitalisation, and is constantly beset with issues surrounding contractors and spiralling costs. Blockchain, with its capabilities, security, and clarity is exactly what should be adopted now. Harness this technology to make our cities smarter and more sustainable now.
Last week, while we judged some of the excepectional young, innovative blockchain companies emerging for the construction sector, it’s clear the solutions to maximise efficiency and cut costs are here now. Its the end of the road for cowboy builders, contractors who don’t pay and the reputation of the sector that needs to change – you can’t fool the blockchain.