SMART CONTRACTS IN EAST AFRICA CONSTRUCTION SECTOR.

The East Africa onstruction industry has long been plagued by inefficiencies, delays, and lack of transparency, which have hindered its ability to deliver projects on time and within budget. In recent years, blockchain technology has appeared as a promising solution to address these challenges,mostly in my moter country Kenya. It has gained significant attention in many industries (e.g., finance and healthcare) due to its potential to provide secure and transparent methods of recording and verifying transactions. The application of blockchain technology in the construction sector has been explored in various areas such as supply chain management, quality control, and project financing. Smart contracts, which are self-executing agreements with the contract terms directly written into code, have been one of the most popular blockchain applications abroad. It has the potential to redefine and streamline the traditional cumbersome and inefficient contractual process in construction in our region(East Africa, Horn … Continue reading SMART CONTRACTS IN EAST AFRICA CONSTRUCTION SECTOR.