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Blockchain Technology for the Construction Sector

Blockchain is such a transformative technology that can affect just about every business process that requires a trusted environment. Construction is a sector where trust is much-needed. An industry that is undergoing an important transformation with the introduction of digital technologies. On the construction site blockchain can improve the reliability and trustworthiness of construction logbooks, works performed and material quantities recorded. In the facility maintenance phase, blockchain’s main potential is the secure storage of sensor data which are sensitive to privacy.

The construction industry has regularly been cited as one of the world’s most fragmented, high impact sectors and has regularly been challenged to improve its efficiency, productivity, and to embrace the opportunities presented by emerging technologies.

Blockchain and Smart Contracts

The construction industry is going through a revolution. This transformation is partly digital, in order to improve efficiency and digital workflows, partly a business practice change. Blockchain technology has the potential to affect both changes and facilitate this innovation. It can do so by shifting current payment and project management systems towards a more transparent and fair practice.

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Tai Cheoh Wei, GDPM
Tai Cheoh Wei, GDPM
Tai Cheoh Wei has substantive years of experiences in the field of procurement, inventory planning, and control, and specifically in the construction industry. Cheoh Wei holds the Diploma in Procurement and Supply Management. She is a member of the Singapore Institute of Purchasing and Materials Management (SIPMM). She completed the Graduate Diploma in Procurement Management (GDPM) in July 2019 at SIPMM Institute.

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