Blockchain-based construction management company aims to cut costs, time, and inaccuracies in flawed property and asset maintenance processes
ULedger, the blockchain company bringing trust and transparency to data, today announced Brickschain will be using its technology to introduce the first blockchain-based construction management system. By implementing ULedger’s blockchain protocol, Brickschain aims to more accurately and efficiently connect all parties before, during, and after construction of an asset in order to manage both corrective and preventative maintenance. This coupling of blockchain technology with sophisticated construction management software will enable cost savings, risk reduction, and increased asset value, and ensure that there is consensus around critical information.
Josh McIver ULedger CEO said, “Construction is an industry that can see a multitude of benefits from blockchain technology, as it can help solve many of the challenges around sustainability during and after construction. By integrating ULedger, Brickschain will be able to help disintermediate the creation and maintenance of buildings, while empowering people in the industry to easily and securely manage their facilities, buildings, and projects. Furthering ULedger’s mission to advance data integrity, this partnership will ease a heavy burden in the construction industry which is fraught with both intentional and unintentional data discrepancies.”
With the mission of chronicling every building in the world, whether it be during the course of construction, during the handover process, or vacant and unused properties, Brickschain and ULedger create a trustworthy chain of events, transactions, assets, and other project details. This allows emails, project management systems, and accounting systems to come together in one place, creating a verified record of all transactions on the blockchain, and ensuring that data can not be lost.
Bassem Hamdy, CEO of Brickschain said, “Construction is a fearless industry. Whether it’s a skyscraper or a family home, we take concepts and make them a physical reality. However, the truth of a project’s status– from how much has been completed, to what still needs to be done– has to this day been elusive in the construction industry. Partnering with ULedger allows us to use blockchain to bring this element of truth, allowing easy access to data, and ensuring that the question of “what’s behind that wall?” can always be answered.”
For building owners, facilities are living entities that often require regular maintenance. However, data about these buildings tends to be scattered, as well as difficult to both source and verify. Blockchain technology allows contractors to continue using their source systems, while storing data in a verified ledger that can be used to manage facilities. For example, if years from now a material is found to be hazardous, building owners will be able to easily check if a building contains that material and if and a renovation is needed.
For contractors who deal with many different subcontractors, owners, and suppliers, all of which use their own systems, blockchain allows contractors to streamline and manage all data in one immutable ledger. Implementing Brickschain ensures that all data, regardless of system or source, becomes verified and trusted.