Reimagining Construction Productivity
The Power of Real Time Data
The construction industry plays a huge role in the global economy, employing nearly 10% of the world’s workforce and contributing over $13 trillion annually. But let’s be real—despite its size, the industry has a serious productivity problem. In fact, new data from 2024 shows that construction productivity has only increased by 1% per year over the last two decades.
How Smart Contracts and Blockchain Are Changing the Face of Construction Payments
The construction industry is being reshaped by emerging technologies like smart contracts and blockchain, recalibrating how payments are managed and projects are executed. With the rise of digital solutions aimed at enhancing efficiency, transparency, and trust, these technologies are set to improve how payments are made and managed in the construction sector.
The Rise of Digital Wage Payments Transforming India’s Construction
The Indian Government’s recent directive, as reported on 31 January 2024, urging employers to ensure that all wage payments to workers are made digitally is a landmark move. This directive is not just a push towards digital India but a significant leap towards .