How Smart Contracts Can Streamline Capital Projects
By Scott Greer, Michael Matthews and Gregg Jacobson (December 16, 2019, 5:13 PM EST) -- When the discussions are finished, the negotiations are concluded and the contract is signed, the real work begins on a capital project. Thousands of cubic yards of concrete, miles of wiring and pipe, and tons of steel: All of it has to be procured, tracked, delivered, installed, inspected and commissioned pursuant to the terms of the contract.
This is when the costs begin to rapidly accumulate. And this is where the automation and tracking capabilities of blockchain and smart contracts can begin to shine, and save owners millions of dollars on their capital projects.
The automation and tracking abilities of smart...
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