The newest blockchain solution will convert BIM into a collaborative and legally binding process in reality
Bimchain.io is planning to incorporate it’s distributed ledger technology (DLT), equivalent to that applied in Blockchain-based systems like the cryptocurrency Bitcoin, into BIM processes, tools, and data. It is still in beta testing phase.
The project is supported by Autodesk and the Plan Transition Numérique dans le Bâtiment, the French equivalent of the BIM Task Group in the UK, and a market-ready product is supposed to be introduced next year.
The objective is to develop a new collaborative process for fulfilling the gap among 3D digital modeling and the conventional and legally binding paper-based processes associated with project administration, building control, insurance and payment.
The purpose is to connect authenticated proofs of contributions to the 3D model with automated payments, a form of smart contract that ensures all stakeholders are dedicated to obtain the level of quality essential.
The primary goal is to produce a decentralized version of BIM, which rather than running in a central common data environment on a cloud platform run by a third party, is subjected to peer-to-peer data exchange with no one party capable of managing or claiming ownership of the data.
Benefits of blockchain in construction:
The project schedule turns to be hundreds of smart contracts in a Common Data Environment (CDE), perceptible to all project stakeholders.
Each smart contract contains a value.
Completion and authentication of a smart contract sets off an automatic payment from one wallet to another.
The project acquires its next ‘block’ of information that will make BIM model updated with accomplished work and project spend.