How can blockchain help the construction industry?

Think blockchain as your back office, matching purchase orders with actions, a system that generates a payment automatically without accounting approval. Or a single source of truth, created by all the participants on a given project, that’s plain for everyone to see. Blockchain keeps everyone honest.

What if the dozens of companies that depend on each other on a construction site could easily align? How nice would it be if construction projects were more efficient; stayed on budget and schedule?

Civil and Environmental Engineering Expert, Professor SangHyun Lee, leads the Dynamic Project Management Laboratory at the University of Michigan.  He engages us in how blockchain technology will change the way construction is done. We learn exactly how blockchain adds value to one of the oldest and largest sectors in the world economy with increased productivity and transparency.