Blockchain and how it will change construction

The construction industry, long known for its traditional practices, is undergoing a transformative shift driven by technological advancements. Among these innovations, blockchain technology stands out as a game-changer with the potential to streamline processes, enhance transparency, and foster collaboration across the entire construction ecosystem write John Ridgeway.

Blockchain, is a decentralised and secure ledger system underpinning cryptocurrencies like Bitcoin and offers a unique solution to the challenges faced by the construction industry. By providing an immutable and tamper-proof record of transactions and data, blockchain has the potential to revolutionise the way projects are managed, payments are processed, and information is shared.