Transcription of BLOCKCHAIN TECHNOLOGY IN THE CONSTRUCTION …
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BLOCKCHAIN TECHNOLOGY IN THE CONSTRUCTION …
BLOCKCHAIN TECHNOLOGY IN THE CONSTRUCTION INDUSTRYD igital Transformation for High ProductivityDecember 201823 Foreword from Nathan Baker, Director, ICE Engineering Knowledge Throughout the world, the CONSTRUCTION industry has long been challenged to improve its efficiency, productivity, and to embrace the opportunities presented by emerging technologies. This ICE insights report examines the potential of BLOCKCHAIN TECHNOLOGY and asks how this disruptive TECHNOLOGY could revolutionise the CONSTRUCTION industry. So, what is BLOCKCHAIN ? Fundamentally, BLOCKCHAIN is a distributed ledger of information, such as transactions or agreements, that are stored across a network of computers. That information is stored chronologically, can be viewed by a community of users, but is decentralised and is not usually managed by a central authority such as a bank or a government, and once published, the information on the BLOCKCHAIN cannot be no mistake, BLOCKCHAIN has arrived, offering immense opportunity for industry to become more effective, transparent, productive and sustainable.
technological development has increased in recent decades, which entailed high requirements for clients, designers, contractors and overall how a project is managed in the 21st century. All in all, inevitable digitalisation is on its way – whether the industry is ready for it or not – and those who can employ the new
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