Blockchain homes are here. Yes, the construction of a big estate was executed with no single (human) construction worker, in a lab. All contracts were executed on blockchain, AI supervisors directed activities, and managed supply chains. With cameras and sensors, AI provided up to second delivery time of the project. The AI-blockchain systems bought materials, used sensors to confirm receipts, tracked site inventory, etc. This is the future of construction!
Blockchain and AI (yes robots) would change the world and Africa. Now is the time to get into this. Helping clients in this area is the fastest growing part of our global advisory business. As we travel and meet clients, structuring and adapting potential use cases in places like Africa, the optimistic exuberance that defines the human spirit is ever more evident.
New technologies are emerging around the world. They include technologies like cloud computing, blockchain and AI (artificial intelligence). Among them, blockchain is one of the most fascinating in that it can change the basis of competition across many industrial sectors. In this section, I explain the numerous opportunities available for African entrepreneurs and startups using blockchain. The reality is that nearly all industries will be affected as blockchain matures. ICT provided productivity gains which simplified business processes, Internet brought unconstrained distribution channels, blockchain promises to make all internet activities to have absolute zero marginal cost. In other words, all Internet services will be free.
Blockchain can be deployed in agricultural value chain, insurance, pharmaceutical supplies, peer-to-peer trading and lending, cross-border commerce, banking and other sectors in the continent. This underlining technology that supports Bitcoin, the cryptocurrency, offers many capabilities to power new forms of business models owing to its consensus-driven decision architecture and trust networks. Blockchain delivers reliable, quality and verifiable data which enables assured digital identity during transactions.
Bankymoon, a blockchain-based smart metering solution provider for power and utility grids, and BitPesa, a startup that enables trading on digital currency, are examples of the applications of blockchain to businesses. Another company, EnLedger, uses blockchain to combat fake drugs besides other applications like energy, law and land management. Circle, a startup funded by Goldman Sachs uses blockchain to make international remittance done at zero cost to the customers.
The AI and blockchain homes would be at least 2x cheaper than homes built and supervised by humans. It would save companies money and anchor better efficiency in construction processes. This will change our world and blockchain homes, executed with the distributed contracts of blockchain will drive this.