A blockchain is a time-stamped series of immutable records of data that is managed by a cluster of computers and not owned by a single entity. Each block of data is called “block” and bound to each other using cryptographic principles, which makes the “chain.”
The construction industry always seeks new ways to tackle niche challenges regarding efficiency and productivity. Blockchain technology offers transparency, trace-ability, and collaboration in the construction industry. For more information about technology challenges, implementations, and more other fruitful insights, check out the following infographic from Viking Steel Structures.