ABSTRACT
Blockchains can empower the use of smarter contracts and payments. For construction, blockchains in the supply chain management could become a powerful method of dealing with the perennial issue of late payments. Blockchains will be a positive development in the industry but businesses need to review their processes to identify how they need to adapt to the different conditions. Blockchains could also be an invaluable technology in reliably identifying the source in verified audits of the supply chain of materials. A quality control snag sheet or punch list, as it is being updated inside a smart sheet, will have that specific item update captured within the blockchain forever. The government of The Netherlands has also been in the vanguard of leading on blockchain projects. Blockchains can be used to reliably verify the origins of materials through the supply chain. Blockchains can provide a new robust approach to auditing with digital signatures providing greater transparency and accountability.
