Use of Blockchain for Refurbishment Projects

Dijets Improvement Proposals Sentiment Check
1

I would like to propose using Blockchain technology to map old building structures for renovation projects.

This is how I believe it can be implemented:

  1. Digital representation: Create a digital representation of the old building structures using 3D scanning and modelling techniques. This creates a detailed virtual representation of the buildings.

  2. Permanent records: Store the information about the building structures on a blockchain network, stored data remains tamper-proof, maintaining the integrity of the building records.

  3. Ownership and history tracking: Utilise blockchain to establish and track ownership of the buildings and their refurbishment history. This allows for transparent and traceable records of changes made to the structures over time.

  4. Energy efficiency verification: Integrate smart metering and IoT devices into the buildings to measure and verify energy efficiency improvements. These devices can record energy consumption, efficiency ratings, and carbon footprint data, which can be stored on the blockchain.

  5. Token incentives: Introduce token incentives through blockchain-based systems to encourage sustainable refurbishment practices. This can involve rewarding building owners or contractors with tokens for implementing environmentally friendly measures, such as using renewable energy sources or energy-efficient materials.

  6. Supply chain transparency: Transparency in the procurement and use of materials during the refurbishment process. Blockchain can facilitate tracking the origin and sustainability of materials, promoting the use of eco-friendly and locally sourced options.

  7. Smart contracts: Implement self-executing smart contracts on the blockchain to automate processes. For example, contracts can automatically release funds for refurbishment milestones based on predetermined criteria, such as achieving specific energy efficiency targets.

  8. Stakeholder collaboration: Blockchain can enable secure and efficient collaboration between various stakeholders involved in the refurbishment process, such as architects, engineers, contractors, and government entities. This improves coordination leading to a more streamlined and sustainable refurbishment projects.

By utilising blockchain technology, mapping old building structures and implementing sustainable refurbishments can benefit from enhanced transparency, traceability, and collaboration among stakeholders.

5 Likes
2

Hi Rashpal,

Another great idea. I know that the property market has started to move into these new technologies, particularly around the ownership/ deeds process which was previously very archaic. I can see from all of your points how this technology could support this industry and it would be great to understand how we create products and effectively market them in this space.

3 Likes
3

This is the future and how it’s going to work the sooner people adapt to these things the better, me I am personally looking to
Introduce something similar to friend in the UAE to be used for property purchase and people who buy them can also at the same time make a will to and make it clear who’s to inherit what, save a lot of court cases and arguments as allege information in the smart contract will be openly available in the blockchain, so yes great idea Rashpal :+1::+1::+1:

3 Likes
4

Hi @Rbassi23

Great proposal, I find all your points valid and I can see how the token Incentive can be utilised as today it is common knowledge that tradesmen and labourers in the past have taken payment in the form of shares or turnover profits, this could be a new avenue to explore as an option for rewards and payment.

2 Likes