Project Manager| AWR Development (BD) Ltd. Cox's Bazer , Bangladesh
Blockchain technology is gaining traction across various industries.
I’d love to hear what you’re discovering! If anyone is using blockchain in their projects.
How can project managers utilize blockchain to enhance transparency, security, and efficiency in project execution and stakeholder engagement? Saving Changes...
Senior Projects Manager | Field & Marten AssociatesNew Westminster, British Columbia, Canada
In construction, at least here in North America, I think we’re still a ways off from fully utilizing blockchain (though I could be wrong). That said, I definitely see huge potential especially when it comes to smart contracts. For example, having pre-agreed terms coded into the blockchain that automatically trigger actions like releasing payments once a milestone is approved could bring a lot more trust, efficiency, and accountability to project execution. Saving Changes...
A downside is that blockchain can use vast amounts of electricity so sustainability is a question. That need for massive computing power has been a very big factor in the growth of processor and chip manufacturers. Mining Bitcoin is literally trading electricity for money.
...
1 reply by Md. Golam Rob Talukdar
Apr 17, 2025 11:31 PM
Md. Golam Rob Talukdar
...
Absolutely, you've touched on a significant concern regarding blockchain technology,
Given the supposed immutable quality of blockchain records, a natural use case would relate to procurement contracts, especially when multiple buyer-seller relationships are involved on a single project.
I don't feel that project management data itself such as status updates would necessitate use of blockchain technology - the costs would outweigh any benefits.
Kiron
...
1 reply by Md. Golam Rob Talukdar
Apr 17, 2025 11:33 PM
Md. Golam Rob Talukdar
...
Hi Kiron
You raise an interesting point about the application of blockchain technology in procurement contracts.
Project Manager| AWR Development (BD) Ltd. Cox's Bazer , Bangladesh
Apr 14, 2025 6:13 PM
Replying to Keith Novak
...
A downside is that blockchain can use vast amounts of electricity so sustainability is a question. That need for massive computing power has been a very big factor in the growth of processor and chip manufacturers. Mining Bitcoin is literally trading electricity for money.
Absolutely, you've touched on a significant concern regarding blockchain technology,
Project Manager| AWR Development (BD) Ltd. Cox's Bazer , Bangladesh
Apr 15, 2025 7:28 AM
Replying to Kiron Bondale
...
Given the supposed immutable quality of blockchain records, a natural use case would relate to procurement contracts, especially when multiple buyer-seller relationships are involved on a single project.
I don't feel that project management data itself such as status updates would necessitate use of blockchain technology - the costs would outweigh any benefits.
Kiron
Hi Kiron
You raise an interesting point about the application of blockchain technology in procurement contracts.
Community Champion
