BLOCKCHAIN: THE TECHNOLOGY AND ITS IMPLICATIONS
Every company is a technology company, no matter what product or service it provides. The companies that embrace this fact are the ones that shape our world. — Stephenie Stone, CIO Americas at Exyte Forbes, January 2017
WHO AM I? Alpha Corporation Market Strategist & Business Developer International Education Infrastructure Alliance (IEIA) Co-Founder & Executive Director UCL Bartlett: Construction Blockchain Consortium USA Steering Committee Member
AGENDA What is Blockchain Construction Process 1 4 Technology? Management Building Information 5 2 Why do we need it? Management 3 Blockchain: How it works
1 What is blockchain technology? “BLOCKCHAIN REPRESENTS A PORTFOLIO OF TECHNOLOGIES AND APPROACHES THAT CREATE NEW POSSIBILITIES IN HOW WE MANAGE DIGITAL TRUST, TRANSACTIONS, AND EXCHANGES OF VALUE. ” -GARTNER
Projects are complex… 2 Why Do We Need It? Project Insurance Owner Financier Project Manager Insurance Insurance General Contractor Architects Engineers Required Certifications Supplier Subcontractor Subcontractor Design
2 Why Do We Need It? …complexity adds risk Project Insurance Owner Financier Project Manager Insurance Insurance General Contractor Architects Engineers Required Certifications Supplier Subcontractor Subcontractor Design
2 Why Do We Need It? Blockchain simplifies that complexity Insurance Insurance Required Certifications Supplier Subcontractor Subcontractor Design
3 Blockchain: How it Works Blockchain (Shared Ledger) Technology As information is updated That secure block is As the blockchain is created, or altered between parties, encrypted and chained it ultimately provides an changes are uniquely to the previous block, immutable and verified signed and timestamped verifying updated chronological history while then encoded into a secure information and adding allowing for secure access block of data new information between systems
4 Impact : Construction Document Control & Data Sharing Process Management Regulation Finance Insurance Di ff erent Systems Communicate and Shipment 728H Current Location: Miami Securely Share Data Late Arrival: Jan 28, 2019 Shipping Design Construction Task: T.104L Schedule: Shipment Delay New Arrival: Jan 28, 2019 Verified by: Constr. Mgr
4 Impact : Construction Procurement & Bid Records Process Management FIRM 1 FIRM 1 FIRM 2 FIRM 3 FIRM 4 Instantly Verify Experience
4 Impact : Construction Ownership & Proprietary Contributions Process Management Updated by: Date: Jan 17, 2016, 9:23am Work: MEP Design-Domestic Hot Water Return Verified by: Owner
4 Impact : Construction Payroll & Smart Contracts Process Management 1 2 Task Requested 3 Task Completed 4 Work Verified 5 Contractor Paid Next Task Queued
5 Impact : Facility Information Facility Operation & Maintenance Management Dynamic Digital Twin Systems Interoperability & Analytics Smart Building Manual
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