Blockchain for Civil Engineering

The civil engineering industry is regularly cited as highly fragmented, and is challenged constantly to improve efficiency, productivity and opportunities presented by emerging technologies. Blockchain technology has huge potential for transforming current civil engineering practices and payment processes.

Problems that Civil Engineers Face Today

Late Payments

Late payments are a major problem for civil engineers. If projects are delayed or invoicing slow, a civil engineer can suffer from low cash flow. This can cause a bottleneck in the funding of a project or the salary of a civil engineer.

Disputes over Work Done

Disputes over work completed can often be costly and slow to remedy. When a buyer is not happy with work completed, expensive legal proceedings are often required. This prevents a civil engineer from focusing all their attention on what matters most.

Poor Procurement Processes

Acquiring materials that meet quality standards and are suitable for a project is difficult. Often there is waste when a material is not as described.

Solution: Blockchain Technology

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Better Payment Processes

Better Payment Processes

Payments can be automated through smart contracts. Through smart contracts, business processes and administrative tasks can be automated to increase efficiency and always be aligned with the agreed contractual terms.

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Dispute Management

Dispute Management

Disputes can be managed better through decentralized third-parties. These third parties can analyse the work vs. what was agreed and make a decision. This bypasses expensive, traditional remediation disputes.

Audit

Material Provenance

Material Provenance

Blockchain can deliver a more streamlined procurement process, reducing the high level of fragmentation and complexity of major projects.

Advantages that Blockchain can Provide

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Streamlined

Streamlined

Blockchain can store all information about a project or piece of work from beginning to end. This streamlines business processes.

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Efficient

Efficient

Blockchain smart contracts can automate administrative tasks such as invoicing and payments, increasing business efficiency.

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Transparent

Transparent

Blockchain allows transparency that cannot be achieved in the field of civil engineering without it.

by Gauthier Vila