Brickschain Partners With ULedger to Build Blockchain Record System
Brickschain is a coordinated ledger in which every transaction in a construction project can be recorded forever. This tool enables project managers to prevent that 90% of crucial information gets lost. The use of multiple systems can make it difficult not only to access data but also to keep a clear overview of a project.
With the intention of promoting trust and transparency in data, ULedger’s Enterprise Blockchain Platform, will provide its technology to Brickschain in order to develop the first blockchain-based construction management system. Using the ULedger protocol, Brickschain’s aim is to help different parties connect in a more accurate and effective manner.
This system will support good communication between the parties before, during and after the project. This is essential as it helps individuals manage their constructions and react quickly in case there is a need for corrective and preventative maintenance. The partnership between ULedger and Brickschain is groundbreaking for the industry because it can help reduce costs, increase asset value, and promotes consensus around crucial data.
This product may also significantly simplify and improve the work of contractors that have to work with different individuals who use various systems like subcontractors, owners, and builders do. This collaboration is aiming to provide an immutable ledger that can process different systems and therefore contain all necessary informations.
“Construction is an industry that can see a multitude of benefits from blockchain technology, as it can help solve many of the challenges around sustainability during and after construction. By integrating Uledger, Brickschain will be able to help disintermediate the creation and maintenance of buildings, while empowering people in the industry to easily and securely manage their facilities, buildings, and projects. Furthering ULedger’s mission to advance data integrity this partnership will ease a heavy burden in the construction industry which fraught with both intentional and unintentional data discrepancies.” – Josh McIver ULedger CEO
ULedger and Brickchain have the mission to chronicle every building in the world which is why they have created a reliable chain of events with assets, project details, and transactions. This enables the creation of a verified record of all transaction on the blockchain where project management systems and accounting systems can converge and prevent data from being lost.