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BLOCKCHAIN: THE TECHNOLOGY AND ITS IMPLICATIONS Every company is a - - PowerPoint PPT Presentation
BLOCKCHAIN: THE TECHNOLOGY AND ITS IMPLICATIONS Every company is a - - PowerPoint PPT Presentation
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
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Alpha Corporation Market Strategist & Business Developer
WHO AM I?
International Education Infrastructure Alliance (IEIA) Co-Founder & Executive Director UCL Bartlett: Construction Blockchain Consortium USA Steering Committee Member
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AGENDA
What is Blockchain Technology? Why do we need it? Blockchain: How it works
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Building Information Management Construction Process Management
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“BLOCKCHAIN REPRESENTS A PORTFOLIO OF TECHNOLOGIES AND APPROACHES THAT CREATE NEW POSSIBILITIES IN HOW WE MANAGE DIGITAL TRUST, TRANSACTIONS, AND EXCHANGES OF VALUE.”
- GARTNER
What is blockchain technology?
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Why Do We Need It?
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Project Manager General Contractor Architects Financier Owner Project Insurance Insurance Engineers
Supplier Subcontractor Subcontractor
Projects are complex…
Insurance Required Certifications
Design
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Why Do We Need It?
2
Project Manager General Contractor Architects Financier Owner Project Insurance Insurance Engineers
Supplier Subcontractor Subcontractor
…complexity adds risk
Insurance Required Certifications
Design
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Insurance Required Certifications
Why Do We Need It?
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Blockchain simplifies that complexity
Supplier Subcontractor Subcontractor Design
Insurance
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Blockchain (Shared Ledger) Technology
As information is updated
- r altered between parties,
changes are uniquely signed and timestamped then encoded into a secure block of data That secure block is encrypted and chained to the previous block, verifying updated information and adding new information As the blockchain is created, it ultimately provides an immutable and verified chronological history while allowing for secure access between systems
Blockchain: How it Works
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Impact: Construction Process Management
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Document Control & Data Sharing
Regulation Finance Insurance Design Construction Shipping
Task: T.104L Schedule: Shipment Delay New Arrival: Jan 28, 2019 Verified by: Constr. Mgr Shipment 728H Current Location: Miami Late Arrival: Jan 28, 2019
Different Systems Communicate and Securely Share Data
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Impact: Construction Process Management
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Procurement & Bid Records
FIRM 2 FIRM 3 FIRM 4 FIRM 1
FIRM 1
Instantly Verify Experience
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Impact: Construction Process Management
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Ownership & Proprietary Contributions
Updated by: Date: Jan 17, 2016, 9:23am Work: MEP Design-Domestic Hot Water Return Verified by: Owner
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Impact: Construction Process Management
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Payroll & Smart Contracts
1 Task Requested 2 Task Completed Work Verified 3 Contractor Paid 4 5 Next Task Queued
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