Читать книгу The New Advanced Society - Группа авторов - Страница 28

Over the past years, there have been many incidents such as buildings or bridges crumbling into pieces leading to the deaths of many people. Sometimes, this could have been due to natural calamities, but it could also have been due to construction-related mistakes like construction methods, unregulated safety standards, quality of materials used, and many more [1]. In light of the past events, it is observable that whenever such incidents occur, a blame game between the various actors involved in the construction is significantly high and this is completely unavoidable due to the lack of accountability among them. Apart from the problem of the blame game, there are many issues in the construction industry that may have occurred due to the lack of technology and digitization [2].

Even today, most of the actors coordinate through phones, emails, and documentation on chapter, leading to the absence of transparency in the process. The processes in the construction industry can be made easier with the inception of new technologies. One such example is the introduction of Building Information Modeling (BIM) [3]. BIM [4] is a smart 3D model-based procedure that delivers architecture, engineering, and construction professionals the intuition and tools to precisely manage the planning, designing, and constructing buildings and infrastructure. Although BIM empowered a change in the design paradigm in this industry, it failed to create an impact on procurement [5].

Therefore, this chapter intends to introduce the usage of the distributed ledger technology [6] (DLT) via R3 Corda to the construction industry to overcome a majority of the problems, bringing transparency into the system [7]. Corda, being a private and permissioned type of blockchain, offers features of being distributed, decentralized, immutable, tamper-proof, and so on [8]. Hence, it can be used to create the right kind of coordination amidst all the actors required in the process in a digitized manner [9], providing sufficient transparency to the concerned actors (like the clients) regarding the flow of money at different stages of the construction [10].