Swinerton Perceives Web 3.0 as an Opportunity to Drive Quality and Transparency in Construction

NEW YORK, Nov. 29, 2022 /PRNewswire/ -- At the start of every construction project, there are always a lot of handshakes (even in the Covid Era). In fact, most of what makes construction work is trust, which comes from a proven record of accomplishment and not expectations. With the use of Web 3.0 systems, a platform of transparency is developed allowing all parties access and even the ability to create virtualized environments. In other words, all stakeholders in the construction process can create open worlds for each other to enter, govern and monitor.

"At Swinerton, we earn the trust of external partners through accountability and delivering on our commitments," says Andrew Pearl, V.P. Division Manager for Swinerton's New York Office. "But beyond the trust challenge, what if we could connect the work put in place to an assignable unit on a transparent platform that could be used to share progress, predict future impacts, and guarantee the quality of the asset provided?"

Web 3.0 transactions are possible and can add potential value in construction by democratizing the construction process paving the way for smart contracts and reduced risk bidding. The advantages of Web 3.0 in construction will allow for complete transparency, independent verification, increased accountability with mitigated risk. The new Internet can be of significant help in dealing with supply chain issues by allowing for a high level of planning beginning as early as the programming phase with tracking and verification. It also allows for a cohesive design process that is managed and completed as early as possible. The transparent platform with open technology allows for more control over data with a prominent level of detailed planning and a well-defined scope- holding people accountable to what is drawn in the plans. It provides for a comprehensive digital construction process tied to digital transactions – removing the "trust" only factor based on hoping that everything that is ordered and delivered is accurate, preventing shortages that create obstacles and setbacks to building.

"This approach takes partners that see the value and are ready to innovate with us to change the way we all do business," adds Aaron Anderson, Director of Swinerton Innovation.

Swinerton is already putting these digital tracking tools in place. Starting with photo capture tools that create an accurate as-built record for clients and trade partners, Swinerton is pushing forward with LIDAR scanning and Computer Vision tools that recognize installed objects and compare them to the planned state in drawings and 3D models for a structure.

The company can also verify installation accuracy to millimeter tolerances and use robotics tools to unify layout across the skilled trades. When combined with digital schedules tied to these elements, it can measure with impartial reality capture tools, the actual earned value on a construction site and tie that directly to subcontractor payments and client billing.

"With the rapid growth in blockchain throughout the supply chain and the increasing reliability of decentralized smart-contracts, a transparent and accurate way to build, bill, and analyze progress is at our fingertips," concludes Pearl. "The future of construction is transparency, and Swinerton is building partnerships that clear the air."

Founded in 1888, Swinerton is a $5 billion full-service national commercial construction company with great financial strength, national clients, project diversity and a company culture that is 100% employee owned. It currently has 19 offices in nine states across the country and is ranked #21 on the ENR 2022 list of top contractors in the country. For more information regarding Swinerton, visit www.swinerton.com.

SOURCE Swinerton