The construction industry has long been in need of an overhaul in terms of the technology that it uses, and Brickschain is utilizing decentralized blockchain technology to transmit data at lightning fast rates. With the advent of this new blockchain based company it is highly likely that this overhaul may be just around the corner. No industry has been able to escape the tidal wave of new technology that is blockchain, and the construction industry is no exception.
How Does Brickschain Work
Like all blockchain technologies, Brickschain uses decentralized nodes stored on people’s computers to store the data that is transferred and traded during any interaction. Rather than relying on outdated technology, Brickschain makes updates and changes to business ledgers in real time, so companies and on site managers of construction jobs can be on the same page at every step of the way. Moreover, the information is far more secure under a decentralized network such as Brickschain because it takes multiple confirmations before any particular change can be made.
Construction data in particular is greatly benefited from the implementation,
“This is the first step in building a comprehensive registry” says Brickschain’s CEO Bassem Hamdy.
This registry will not only streamline construction jobs in the United States, but across the entire world. Companies and construction managers will see the amazing benefit that using a blockchain technology like Brickschain can have on the efficiency of the construction industry.
Its implementation is sure to take the construction industry by storm, and revolutionize the way data is stored and transferred when it comes to construction jobs. The industry will shift from using pen and paper and primitive software to using one of the most advanced pieces of technological software using blockchain. It is a huge step in the right direction for blockchain companies and for the construction industry as a whole.
How Will The Construction Industry Be Affected?
Companies are already starting to see the amazing benefit that blockchain can have in various industry outside of construction. With Brickschain being the first company to take the leap into the actual construction marketplace with their blockchain technology. It is likely that other companies will either use Brickschain for their construction jobs or create their own decentralized blockchain way to manage and distribute data.
Brickschain use of blockchain will no doubt incentivize other companies to make the shift towards blockchain if they wish to stay relevant in the 21stcentury’s digital world. The speed and accuracy of data transfers is one of the most important aspects of any technology that seeks to have a huge impact in today’s society. Blockchain is both the fastest and likely the most accurate form of transferring and storing information, so companies will quickly be falling behind in the technology race if they don’t adopt some sort of blockchain system.
Just about every industry is seeing massive changes and shifts due to blockchain. Brickschain is merely one company that is channeling its ambition and technology towards revolutionizing the highly outdated construction industry. They are leaps and bounds ahead of most other construction software’s out there and that will likely be a huge contributer to their success.