ER42 Applying blockchain to product compliance and assurance in the construction industry (August 2019)

Blockchain is a decentralised, distributed record or ledger of transactions that are stored in a permanent and nearly unalterable way using cryptographic techniques.

Blockchain has generated a renewed interest in enabling enhanced data sharing without the need for central authority to govern how this is done. Improving the flow of products and enabling more sustainable and transparent supply chains are goals for many organisations today where blockchain might help.

In New Zealand, the construction industry has a critical need to ensure that the products that flow through their supply chains are fit for purpose and adhere to regulations.

While there is potential for blockchain technology to be applied to product assurance and compliance in the construction industry, the technology is not yet well enough developed. To facilitate blockchain adoption or indeed strengthen adoption of existing information sharing technologies, a prerequisite is to clarify regulatory expectations on product assurance information disclosures.