Blockchain Technology in Construction – is it the future of Project Management?

A conservative industry such as construction hardly seems like the ideal partner for something as modern and new-fangled as blockchain technology – right?

Wrong, according to some experts, who are beginning to see the potential for blockchain to revolutionise the way construction projects are managed and executed.

The main idea of ‘blockchain’ provides a platform for clearly cascading work products down the chain and holding everyone accountable for completing key tasks. The aim is to make the project life cycle more efficient, and to record transactions at legally binding moments, so that an audit trail can be generated. Monitoring the database of all finance via #Cloud Accounting is part of it.

Forward-thinking companies see the benefits, which include accurate progress reports, the ability to identify where mistakes may have crept in and who has delivered on schedule.

Would you or your company ever consider blockchain?