Blockchain and the Design Professional

 

What is Blockchain? The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.

Per Victor O. Schinnerer:

The design and construction industry is, by all accounts, one of the most disaggregated industries due to the complexity of its processes, enormous scale of players, and the coordination needed to complete sequential tasks and responsibilities. There are numerous stakeholders and participants, layers of procedures at all phases of delivery, and an abundance of laws and risks related to protecting workers, the environment, and the general public. Siloed procedures, disconnected work flows, and inconsistent information-sharing offer inefficiencies at every turn.

Blockchain could change all of this in a number of ways, but the technology is still in its nascent stages so the implications are still unknown. With that caveat, it’s not hard to imagine that industry innovators may prompt the use of blockchain as a project management platform.

For an recent account of the implications of the Blockchain on Design Professionals, click HERE and visit Victor O. Schinnerer’s website and read an article posted by Yvonne Castillo, VP of Risk Management.