- The technology adds value to HPB by delivering secure performance data and transactions between building value chain partners, in real time.
- A cryptocurrency adds a value to the real time transacting between building partners and eliminates tedious administration and contracts between a buildings stakeholders.
- A single building or an entire property portfolio can be run using blockchain technology.
- With the end-users at the forefront of all decision-making, a HPB’s performance using the blockchain is directly determined by its users.
The blockchain has been made famous by crypto currencies like bitcoin. The crypto currencies have confirmed that blockchain technology is a secure means of transacting. The technology is now also considered in the concept of the High Performance Building (HPB) in relation to design, construction and management.
What is the blockchain? The blockchain is a decentralised database that chronologically and securely records transactions which are time stamped. The data recorded is secure and cannot be modified. The technology adds value to HPB by delivering secure performance data and transactions between building value chain partners, in real time.
What is a cryptocurrency? A cryptocurrency is a digital currency where encryption techniques are used to regulate the generation of units and verify the transfer of funds. A cryptocurrency does not operate within a conventional banking environment. A cryptocurrency adds a value to the real time transacting between building sectors and eliminates tedious administration and contracts between a buildings stakeholders.
Blockchain has the ability to create value in a HPB through smart self-executing contracts between the building owners, service operators, system components, system integrators, including material and supplies tracking and payment. This makes it possible to run the entire building on the blockchain.
Blockchain can be utilised for commercial arrangements between all partners in a building. Cryptocurrencies provide a secure and trackable way to trade across borders, industries and suppliers in the high performance building value chain. The technology facilitates automatic payment for different channel usage using the internet and smart technology to communicate and access information. The channel user or end user is at the forefront of all decision making. These networks will change our design considerations as we create buildings of the future.
For example, a Solar Pv generated energy supply with a battery bank supplying multiple building partners (this includes all machinery) can be managed using the technology, which will allow for optimal generation and distribution to demand points – all the time recording the transaction details between parties securely. The technology also allows for any excess energy to be swapped, traded or even sold to a neighboring building or grid.
The blockchain does not reinvent the wheel rather, it provides a platform to leapfrog the building industry into a higher efficiency gear by leveraging existing data from existing assets to optimise operations and amplify building performance. With the end-users at the forefront of all decision-making, a HPB’s performance using the blockchain is directly determined by its users.
Author: Bryan Groenendaal