Construction industry sees little need for blockchain


28. Jun 2022

By Fabian Kurman

Blockchains are a technology that needs to be explained, which is why the existing benefits in a digital construction process for companies will not be so easy to see even in 2022. In the construction industry, only every fifth manufacturer is currently open to this.

The digital directory blockchain has become known through cryptocurrencies such as Bitcoin. One of its great advantages is that a change in one of the earlier entries – also called blocks – would require the complex recalculation of the entire subsequent block chain. Manipulations can be reliably prevented in this way.

Blockchains are digital ledgers where each change – also called a block – contains a calculated reference based on all previous changes. This makes them very robust against manipulation, because if earlier directory entries are changed, the calculation of the link is no longer correct. In addition, transactions and information can be documented in a comprehensible way for the participants in the process. The technology has gained notoriety through cryptocurrencies such as Bitcoin.

Blockchain: German government adopts strategy