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On the Brink

On the Brink

It's True: Blockchain Is The Future, Especially In the Construction Industry

On May 14, 2019 6:00:00 AM

/ Andrea Simon

, blockchain, technological innovation



I recently had the pleasure of being interviewed by ConstructechTV host Peggy Smedley about blockchain and its implications for the construction industry. It was such an interesting conversation that I want to share it with you :

Blockchain: much more than a trend

As I tell Peggy, blockchain is not a passing fad. Its where the world is moving, whether it's building buildings or securing our food supply chain or paying our taxes. A report from International Data Protection (IDC) has projected that global blockchain spending will reach $2.9 billion by the end of 2019, nearly doubling the $1.5 billion amount spent in all of 2018. That's a tremendous increase in just one year, clearly indicating that something big is going on. 

Possibly nowhere is the power and potential of blockchain more evident than in the construction industry. As more and more companies recognize that blockchain is the most secure way to make transactions, more are adopting it, from general contractors at the beginning of a project to buyers and sellers of the finished property.

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