Blockchain is a distributed database that allows for secure, transparent, and tamper-proof transactions in its simplest form. It is a system that tracks transactions across a peer-to-peer network. Its main defining feature is decentralization. It is poised to transform the entire foundation of the construction sector, which is on the verge of a technological revolution. It can solve the problems rooted in payment systems, collaboration, documents in the construction industry. This paper explores how blockchain technology could potentially change the construction industry for the better.
blockchain, construction industry
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