Digital Twins: The Power of Blockchain in AEC

The construction industry is in dire need of a cost-effective solution for legal claims, maintenance, and sustainability. Recurring problems are attributed to the diverse contributors of built assets. A search for a viable, complete solution has been ongoing for some time.

Blockchain technology grows in respect and interest with each passing week. It is being recognized for more than its cryptographic security. Practical applications, especially in the areas of logistics and accounting, are becoming increasingly obvious to a growing number of businesses. The construction industry stands to benefit measurably from its implementation.

Problems in the Construction Industry

The disparity between the architecture, engineering, and construction (AEC) industry faces great challenges. The organizational structure is inherently meant to improve harmony across these three sectors. Even so, when it comes to the return on built assets, the AEC industry is severely lacking. Blockchain technology is seen as the best solution for many of the problem areas that continue to inhibit integration and asset returns.

Why Blockchain

Construction software that can establish an effective communication protocol has widespread benefits. It is an asset for across the board cost reduction in the construction industry. There are direct benefits to legal claims and maintenance. Additionally, a blockchain based software would be specifically valuable for the sustainability of construction projects.

Integrating Blockchain into Construction Technology

Blockchain technology continues to demonstrate how it can be applied to solve some of the most challenging digital, logistical, and security problems that are facing the world today. This is the direction that construction management software is heading. A blockchain solution for the construction industry will help reduce the lost data that affects 95% of construction projects.

Digital Twins

A blockchain based digital twin of a construction project was first believed to have been completed on July 23. This is a profound innovation because of how it can secure and precisely document projects over an immutable digital ledger. Maintaining a digital twin costs about $0.10 per sq.ft.

This last example of making an exact digital copy of a project illustrates the power of blockchain technology. It opens AEC to a world of new possibilities. As more industries adopt their own blockchains, those construction companies who embraced the technology early stand to benefit the most. Ultimately though, the power to transform and deliver real measurable benefits will lift the entire industry.