Blockchain: The Future of Innovation or Disaster Waiting to Happen?
Blockchain technology — an electronic ledger that can record transactions between multiple parties in a job-centric, transparent, chronological, secure, and unchangeable ways — could have a unique and significant impact on the restoration and remediation industry, namely in creating an environment of transparency between all participants. Blockchain also could standardize operations by creating a uniform way to manage contracts, job status, communications, labor and equipment, payments, performance matrixes, accounting, and the reduction and monitoring of waste and fraud. Greater transparency results in more accurate data, more efficient operations, and more satisfied participants.