Construction Industry

General
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The construction industry is one of the biggest industries in the world and relies heavily on effective supply chain and logistics management. Blockchain technology can help the construction industry to streamline many of its processes and increase efficiency. Here are some ways in which blockchain can be used in the construction industry:

  1. Supply Chain Management: Blockchain can create a decentralized platform for managing the supply chain, providing transparency and accuracy in tracking inventory levels, materials delivery, and project progress. This can help the parties involved in the construction process to anticipate delays, minimize errors, and reduce costs.

  2. Payment and Invoicing: Blockchain can automate payments and invoicing through smart contracts, ensuring that contractors are paid on time based on the agreed-upon terms. This can reduce payment disputes and delays, while decreasing the administrative burden of traditional payment processes.

  3. Document Management: Blockchain can provide immutable records of construction documents, such as blueprints, specifications, and contracts. This can improve transparency and accountability while making it easier to track changes and revisions.

  4. Asset Management: Blockchain can manage and track the status of assets, such as equipment and machinery. This can reduce idle time and downtime, ensure maintenance schedules are followed, and provide real-time insights into asset utilization.

  5. Quality Assurance and Compliance: Blockchain can be used to monitor and track quality assurance and compliance by creating immutable records of inspections, audits, and certifications. This can help to ensure that construction projects are completed to industry standards and regulations.

Overall, blockchain technology has the potential to transform the construction industry by improving supply chain management, payment and invoicing, document management, asset management, and quality assurance and compliance.

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Well done Rashpal, Very impressive, the thought process is absolutely spot on a smart contract executed through the Dijets network :ok_hand: would seal a deal for sure, am liking the way how you have and are understanding the structure of the way the it works aswell, many other avenues will become available through this mate, well done mate great work :+1::+1::+1:

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Also will definitely leave no spaces for a end of job snag lists from developers/investors as all parties will know what there jobs are, which results in time saving making more saving financially and less hassle as it will all be in the smart contract. perfect!

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Hi Rashpal,
Great idea. I can definitely see that this would add huge value to the Supply Chain process and much more!

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Hey Rashpal

Great proposal, definitely something that the industry can benefit from, especially within the efficiencies :+1:

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@Rbassi23 i agree with all of your points made, the construction industry could be revolutionised by the use of blockchain technology. A decentralised platform made with DIJETS Technology and its Supply chain would infinitely increase privacy and security regarding all case sensitive data especially in the management, inventory and compliance side of things that business’s and companies would find very valuable.

i will look forward to seeing it being used and incorporated in real world scenarios and seeing the standards being raised higher for the construction industry.

Great Work !

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Thank you Rashpal,

Yes indeeed construction, and the wider property sector, is very archaic in its operating models and our blockchain technology could add huge value to the sectors, especially now costs are rising considerably and labour shortages are acute,

Good idea buddy,

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