Blockchain Brings Efficiency to the Infrastructure Market

Could blockchain disrupt construction? A new partnership looks to build a blockchain ecosystem for public infrastructure projects.

OpenCrowd, a design and technology services company, and the BuildCoin Foundation, a nonprofit organization focused on accelerating strategic infrastructure and construction development, are working together to build a blockchain ecosystem.

The two organizations have begun joint efforts to develop the features and function of a platform to bring efficiency to the infrastructure market.

The blockchain-enabled solution will create transparency in both project performance and payments. It will also enable the crowdsourcing of project concepts from citizens and global experts to select and design transformative projects. Finally, the technology will enable crowdfunding of projects to open up infrastructure investment to new investors, including citizens who will benefit from the infrastructure.

While this is only one example, blockchain, in general, is changing how many industries do business. For construction, it can help bring transparency and efficiency to public infrastructure projects, ultimately helping build better rail, roads, bridges, and transit systems.

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