Construction Handshake leading the construction sector into a new era. Blockchain based materials passport for the circular economy. Smart Contracts to reduce the financial risks. Combined in a smart app making supply chain cooperation more effective.
Construction Handshake is an innovative system which ensures a smarter way of working by means of chain cooperation whereby the subcontractors value each other and to which an automated payment system is linked. This causes a shift in the interest of the subcontractor from progress of own work to progress, quality and cost efficiency of the entire project. Through the use of smart contracts, payment can take place directly from lender to delivering party.
The smart contracts handle also the materials passport which communicate with a data chip in the building parts and integrated in the 3D-model.
The construction sector has high failure costs, an estimate of 20% of sales and subsequently low returns, an average of 3% profit of sales. In this context, a total of 10% of the total construction turnover is stuck in bank guarantees. With Construction Handshake, failure costs could be reduced by 8% on average and bank guarantees would no longer be needed.
Development MVP in Android.
Start 2nd phase development HU University of Applied Sciences.
Start research University of Applied Sciences Saxion.
Applying for larger Fund HHT.
Explainer Video version 2
Research ‘How to be adapted by the construction sector’ Development HU University of Applied Sciences Utrecht ready.
Development Android and iOS application.
Research University of Applied Sciences Saxion ready.
Start Construction Handshake pilot project.
Brochure and website update.
Start Construction Handshake projects.
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