The UK construction industry has innovation in its DNA. New technologies, materials and techniques play a vital part in the sector’s ability to deliver the built environment we need. As we look to a post-pandemic future, the infusion of technologies such as blockchain and cryptocurrency point a way towards the industry being able to reinvent itself yet again, overhauling areas such as logistics and cash flow, while reducing the impact of that sector’s bête noire – human error.

Blockchain and cryptocurrencies do carry risks, not least the potential for price volatility and the impact of tightening regulations. But used appropriately, they could add considerable value to the sector.

Edinburgh-based fit-out specialist Orocco recently became the first construction company in the UK to accept cryptocurrency as payment for projects. I believe others will follow suit – and I will explain why.

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