Increasing use of blockchain technology will go together with growing advances in the construction and mining industry, especially through digitisation and automation. Key trends such as digital transformation, the rise in automation, modern equipment systems, and proliferation of financial technology (fintech) are influencing equipment models and are expected to drive adoption of blockchain technology. Some key advantages of using blockchain in the commercial vehicle industry are added transparency on ownership, price, and processes. This would also accelerate payment, enhance security, and eliminate fraud along with eliminating middlemen, reducing paperwork, and streamlining the supply chain. This report gives a complete overview of the blockchain applications in the construction and mining industry.
Blockchain’s penetration in the construction and mining industry is expected to gradually increase in the coming years, especially after 2020. It is, however, largely dependent on the level of automation and proliferation of technology in the industry mandating support for these advances. Blockchain will radically simplify and accelerate the business operations of all key stakeholders involved in the construction and mining industry.
Blockchain has been implemented in some pilot projects in the construction and mining industry, leading Hyundai to develop a new supply-chain finance ecosystem incorporating dealers, distributors and manufacturers. The equipment purchasing process for fleets using blockchain brings all the relevant stakeholders on a common platform, enabling them to share and view information in real time. Investing in blockchain is expected to smoothen fleet operations by improving overall operational efficiency and reducing costs.
The penetration of blockchain platforms in the industry is currently limited. Suppliers will benefit from being on the same blockchain platform as original equipment manufacturers (OEMs) and final customers. This is expected to reduce the cost and time for spare parts and warranty issues as well as hasten recalls.
This research report also covers off-highway vehicles.
Key Issues Addressed
- What are the various industries disrupted by blockchain technology?
- How does the blockchain technology revolutionise the construction and mining equipment industry?
- What are the key applications of blockchain in the construction and mining industry?
- Who are all the key participants involved and what is the future outlook for blockchain technology in the construction and mining equipment industry?
1. Introduction to Blockchain
- What is Blockchain Technology?
- Blockchain - Influencing and Challenging Factors
- Transactions on the Blockchain
- Industries at a Glance
- Key Market Participants at a Glance
2. Definitions and Segmentation
- Blockchain - Definition and Properties
- Common Blockchain Terminologies
- Types of Digital Currencies
- Why is Blockchain Important for the Construction Industry?
- Public and Private Blockchain Types
3. Research Scope, Objectives, Background, and Methodology
- Research Scope
- Research Aim and Objectives
- Key Questions this Study will Answer
- Research Methodology
4. Blockchain Technology for Procurement and Supply Chain
- Blockchain in Procurement and Supply Chain Management
- Streamlined Procurement
5. Blockchain Technology for Payment and Project Management
- Blockchain in Project Management
- Blockchain Enabled Designing and Project Collaboration
6. Blockchain Technology for BIM and Smart Asset Management
- Blockchain Technology for BIM
- Blockchain-enabled Designing and Project Collaboration
7. Blockchain Technology for Equipment Rental
8. Blockchain Technology for Equipment Financing
- Blockchain and IoT for Equipment Financing
- Digitization of Real-World Assets Using Blockchain
9. Blockchain - Platforms and Service Providers Profiling
- Hyperledger (a Linux Foundation Collaborative Project)
- RSK Labs
- Consensus Systems (ConsenSys)
- Project Provenance Ltd/Provenance
- Productive Edge LLC
- Technology Companies Blockchain Platform - Overview
10. Growth Opportunities and Call to Action
- Growth Opportunities - Disruptive Applications and Future Success
- Strategic Imperatives for Success and Growth
11. Conclusions and Future Outlook
- Key Conclusions and Outlook
- Legal Disclaimer
- Table of Acronyms Used
- List of Exhibits