Blockchain for Construction and Real Estate Industry


Authors : Nikhil Kumar

Volume/Issue : Volume 8 - 2023, Issue 10 - October

Google Scholar : https://tinyurl.com/5n6r2ecm

Scribd : https://tinyurl.com/hyuk9dr8

DOI : https://doi.org/10.5281/zenodo.10099742

Abstract : The booming use of blockchain technologies and unexpected limelight has attracted everyone's attention. Usage only grows over time but is often used as a means of gaining wealth instead of technological developments in the financial and technical field. That is keeping it down is the constant usage of by people rather than the broad corporation. It can drastically stop money laundering and the bluffs around it. Big companies and real estate firms also have very little confidence in blockchain's actual use and benefits. Perhaps because of their slow digitalization and uncertainty about the change in the tech world. The world is heading toward an intelligent future, so it makes good sense to get away from obsolete banking and old transaction practices that are not very convenient. The blockchain network is completely capable and will certainly bring a halt to all the industry's illicit movement of capital. We propose improving the present system, which has undergone little change over the last decade or so, and the contrast between speculation and reality is further found in the paper.

Keywords : Blockchain, Decentralized Ledger Algorithm, Construction Industry, Private and Public Blockchain, Smart Contracts, Building Information Model

The booming use of blockchain technologies and unexpected limelight has attracted everyone's attention. Usage only grows over time but is often used as a means of gaining wealth instead of technological developments in the financial and technical field. That is keeping it down is the constant usage of by people rather than the broad corporation. It can drastically stop money laundering and the bluffs around it. Big companies and real estate firms also have very little confidence in blockchain's actual use and benefits. Perhaps because of their slow digitalization and uncertainty about the change in the tech world. The world is heading toward an intelligent future, so it makes good sense to get away from obsolete banking and old transaction practices that are not very convenient. The blockchain network is completely capable and will certainly bring a halt to all the industry's illicit movement of capital. We propose improving the present system, which has undergone little change over the last decade or so, and the contrast between speculation and reality is further found in the paper.

Keywords : Blockchain, Decentralized Ledger Algorithm, Construction Industry, Private and Public Blockchain, Smart Contracts, Building Information Model

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