Blockchain Finds Its Home In a $10 Trillion Industry

After years of being just a financial instrument, Blockchain can now have a real-world impact, tackling real-life problems.

A group of new and existing companies are working on AECROS. The result is a new industry called AutoConstruction.

Construction is the least digitized industry in the world, and 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.

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.

AECROS is developing Modular Building Units (MBU), which are customizable finished building blocks with embedded IoT sensors and civil requirements.

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.

The process of construction results in zero or no waste at all.

Through blockchain, payments can be automated using smart contracts. This means that no one will have to wait for another party to make the payment, bargain, or open an unnecessary dispute. When the work is done, previously agreed upon payment will be made.

Read more about the role of blockchain, IoT, and AI in auto construction here - https://medium.com/datadriveninvestor/blockchain-finds-its-home-in-a-10-trillion-industry-adcb34b1d2b2