Blockchain: The Next Stage of Digital Procurement in Construction

Professor Srinath Perera, the Director of Centre for Smart Modern Construction, School of Engineering, Design and Built Environment, Western Sydney University, talked about blockchain as the next generation of digital procurement at the FCON21 'Future of Construction Summit' oganised by FuturePlace in May 2021. In this session, he explained how blockchain can enhance the supply chain and ensure the right materials are in the right place at the right time as well as how the technology works and can be applied to enable efficient procurement within the construction industry. He further discussed how blockchain can address the following areas of procurement in construction: authentication, certification, warranty, responsibility of work done, delay in payments and payment certification.

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