GineersNow Construction magazine Dec2019 hardware, civil engineers, heavy equipment, machinery, BIM, infrastructure, mining, pipes contractor cement building materials tool EPC, contractors

4. Forming
Decentralized
Autonomous
Organization (DAO)
Several Smart Contracts that
have formed together can
create a DAO. DAO is a group
that has the capability to
function through rules that are
encoded on computer
programs that can start a
series of if / thens concerning
clients and members of the
project team. The program is
transparent and is accessed
by shareholders without the
need for a third party.
For instance, in Canada, you
can see the the history of the
house or the land that you are
planning to buy so even
without doing your own research
or having to listen to
the tell-tales of the
neighborhood, you would
know for yourself if the house
was indeed a former church,
hospital, or cemetery.
The only question now is
whether the construction
industry is open to changes
like this one. Of course, there
will still be concerns such as
convincing all the colleagues
you are collaborating with to
use Blockchain as well.
-end-
Project management can also
be done on the Blockchain.
Approval records during the
pre-construction phase and
during the in-use
management of the building
can be backtracked when
faced with issues requiring
approvals because all records
are kept in Blockchain.
The peer to peer function of
blockchain and the smart
contract capability is an
excellent chance to streamline
the management of
construction projects.
These potential uses of
blockchain are so promising
that customers will most likely
suggest (or even demand for)
its use in the future because it
always tells the truth and will
never lie because Blockchains
are naturally about
compliance.
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