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Blockchain Strikes Again: Solving The World’s Most Pressing Issue

by Shubh Patni 8 months ago in blockchain

A fresh wave of disruptive innovation is coming

Blockchain Strikes Again: Solving The World’s Most Pressing Issue
Photo by GR Stocks on Unsplash

What do Apple, Amazon, Google, Tesla, and AECROS have in common?

Disruptive Innovation!

Disruptive innovation replaces an old and established market with a new market and a value network.

Disruptive innovation improves on an existing way of doing things and provides a better value to its customers, and it makes the early investors Millionaires!

All the tech giants are successful because they have recognized the pain points of the existing way of doing things and through technology, made the same job much easier. Construction, being the least digitized industry in the world, is ripe for disruption.

How Disruption made Apple, Amazon, and Tesla successful

Before Apple, Blackberry was one of the biggest players in the cellphone market. It sold thick business phones with a small keyboard built right in the smartphone. It might sound absurd, but people preferred the keyboard over the touch screen. This is because touch screen technology at the time was annoying and there was not much use of it. iPhone and App Store changed everything. Keyboard phones became irrelevant.

A similar thing happened with Amazon and eBay. Amazon started as an online bookstore and dominated the online book market. At the time, everyone thought it was dumb to sell books online from your garage when people could buy them from a store. Amazon proudly described itself as Earth’s Biggest Bookstore and quickly partnered with many wholesalers and distributors to meet the demand. The rest is history.

It is a common fact that eventually, we will run out of gas. Gasoline cars have no future, it is just a matter of time. Knowing this simple fact, many companies tried making electric cars, but all of them failed miserably because they could not design advanced motors and batteries. They relied on other suppliers and just legoed the pieces together and expected it to work on the market. Musk realized this and made all major components in-house, and now Tesla is the biggest car company in the world in terms of market cap.

The process that seemed normal to others was an inefficient way of doing things for Jobs, Bezos, and Musk. Stats were against them, no one agreed with them, and there was no one in history to learn from.

A similar thing is happening in the construction industry.

AECROS is Changing The Game

AECROS is pioneering the auto-construction industry.

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.

Just like touch screen revolutionized cell phones, the internet revolutionized trade, and batteries are revolutionizing cars, blockchain will revolutionize the construction industry.

Pain points in the construction industry

  • Traditional construction methods take a lot of time, increasing labor, management, and out-of-business costs.
  • It requires many middlemen and suppliers, making the supply chain inefficient.
  • At every step of the process, timely payments must be made to maintain trust amongst stakeholders and carry on the pace of the project.
  • It is hard to access the adequate quality of materials and make sure there is no theft.
  • People in developing countries do not have access to the business of construction supply stores because of high costs.
  • Current construction methods produce a lot of waste, which can be solved using reusable construction methods.

In short, traditional construction methods are inefficient.

AECROS is solving these problems by making self-complete blocks that robots can assemble. These blocks will have all the housing requirements such as drainage pipes, electric fitting, paint, tiles, and will be packed with features such as floor heating, fire resistance, embedded IoT devices, and much more.

As robots can assemble these blocks, it reduces construction time, saving in labor, management, and out-of-business costs. Robots can work 24/7 with precision, reducing the need for a large workforce and thus reducing the overall cost of construction by multiples.

To maintain trust amongst all the stakeholders, all the data regarding construction i.e. expected construction duration, payments, material supplies, etc can be put in a private blockchain. This would not only provide transparency through smart contracts, but payments can also automatically execute upon the completion of certain tasks. The owner can program these smart contracts as per the agreement between different stakeholders.

The reusable category of blocks is waste-free. The entire life-cycle of a building from construction to demolition results in very little to no waste — previously unheard of in the industry.

Tokenization of blocks enables anyone from anywhere in the world to trade these blocks anytime, giving them access to a construction supply store business.

These are just a few opportunities and innovations in the vast space of auto-construction innovation. The industry will be so big that it is hard to even imagine the implications and future innovations that are yet to come.

With an ever-increasing population and shortage in the housing market, auto-construction holds the potential to save trillions of dollars and provide billions of new homes.

Here’s how AECROS can end the housing crisis-

You can compare AECROS to Lilium, which is working on vertical take-off electric jets. Just think about it! Jets that don’t require long runways and fuel to run, and they already have a working prototype. This was the dream in the aerospace industry.

Lilium is revolutionizing the aerospace and travel industry. In the same way, AECROS is revolutionizing the much bigger housing and construction market.

These two startups are still taking their first steps, just like Tesla and Amazon in their early days. Looking at the bigger picture, disruptive innovation will surely replace traditional construction methods and make new billionaires.

blockchain

Shubh Patni

Programmer | Youtuber | Writer and Student at Northeastern University.

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