Blockchain

Articial Building Intelligence with iTWO fm

The Blockchain is an "incorruptible digital ledger" for economic transactions that can be programmed to record not only financial transactions but virtually anything of value.

  • The Blockchain is a decentralised, public digital Ledgerwhich records everything that happens on the network. The dates are encrypted, so they cannot be changed. This makes it an ideal technology to record the transactions of cryptocurrencies like Bitcoin without the possibility of fraud or hacking.
  • A block is the "current" part of a blockchain that records some or all of the most recent transactions and enters the chain as a permanent database upon completion.

This results in two features of blockchain-based data stores that are generally not available in conventional databases:

  1. The entire data history with all its changes as well as the metadata (timestamp, author information) are recorded and protected with the equivalent of a cryptographically strong digital signature.
  2. The solution is not centralised and does not require a central trusted authority or institution.

Both features correspond to the nature of a building design process that takes place in a cooperative network of companies and individuals takes place.

The use of blockchain in construction projects is also suggested, as it is a useful tool for managing and recording changes to the BIM-model during the design and construction phase. Smart contracts are used to negotiate editing privileges and to store an immutable log of all changes to the model.

Your rating of this article?

Average 4.8 / 5. Number of votes: 18

Be the first to rate :-)

Great. Thank you very much!

Maybe you want to follow us on ...

We are sorry that you did not like this post so much.

How can we improve that?

Back
Smart Contract
Forward
Blockchain