Global Overview of Blockchain Technology in Construction and Mining Equipment – Forecast to 2023 – ResearchAndMarkets.com

DUBLIN–()–The “Global
Overview of Blockchain Technology in Construction and Mining Equipment,
Forecast to 2023”
report has been added to ResearchAndMarkets.com’s
offering.

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…

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