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Blockchain Finds Its Home In a $10 Trillion Industry

A New Crypto currency is on its way to digitize the least digitized industry in the world: Construction.

This is the first time construction will have such a drastic change. A group of new and existing companies are working on AECROS. The result is a new industry called Auto-Construction.

Auto Construction will combine various existing technologies such as IoT, Blockchain, AI, Digital Twin, BIM to create a fully autonomous and most efficient construction method, never fathomable before.

‘The First Automated, Tokenized, Blockchain Construction System in the history of the world.’

[You can be a member and part of this revolution using this link – Block Members]

Robots will be able to construct buildings within nights, rather than months which is usually the case in traditional methods. And with AI, we can automate most of the tasks. With the help of blockchain and IoT, we can make the financial part buttery smooth, making the whole process a breeze.

Usually, in construction, there are many stakeholders involved from suppliers, middlemen to contractors, and lawyers. At every step of the process, certain goods must be transported, recorded, stored, utilized, and maintained. Traditionally, all these tasks are done my man and more people need to be involved to make sure everything is taken care of, this increases the cost and time for the project.

AECROS is developing Modular Building Units (MBU), which are customizable finished building blocks with embedded IoT sensors and civil requirements. Design and Engineering of these blocks are simplified and perfected with the help of Building Information Modelling 

These standardized blocks are mass-produced in factories and then transported to the site of construction. These blocks are self-complete. The modularity of these blocks allows consumers to replace specific blocks, buy individual blocks, and reuse them or resell them rather than demolishing the building.

By nature, these building blocks provide the most efficient, cost-effective, and green way of construction. The re-use-a-block system allows for a phenomenon unheard of in construction, and this makes the process of building demolition extinct by a new process called deconstruction.

Rather than creating tones of waste through demolition, Block Members’ Superblocks can be deconstructed in the same way one would deconstruct a LEGO construct.

With IoT, we can track everything and with blockchain, we can backtrack all the transactions. Blockchain will build trust amongst the stakeholders as the same information will be available to everyone. Using smart contracts (fancy code in blockchain network which is executed when certain conditions are made) all the payments are done automatically when a task is completed, which is the major problem with traditional methods.

No hassle for workers, contractors, suppliers, and owners. Everyone is happy and the whole process is cleaner, simpler, cheaper, streamlined, and faster.

This is the first time blockchain is seeing it’s vital use case, and we have the potential to surpass bitcoin. I know every crypto claims that don’t take our word for it, look at the stats-

“According to Economic Research Council: The global construction industry is expected to reach an estimated $10.5 trillion by 2023, and it is forecast to grow at a CAGR of 4.2% from 2018 to 2023.” Construction is the least digitized industry in the world. So, it is a huge market with near-infinite opportunities.