Blockchain for Project Management

Blockchain for Project Management

Blockchain is not just a buzzword; it is an exciting new technology that allows users to exchange sensitive data without the need for brokers and other third party mediators. Blockchain technology provides a disruptive new method of conducting transactions over the internet and will ultimately change how we do project management. Enabling encrypted, distributed, and secure logging of digital transactions, blockchain is the underlying technology of Bitcoin and other cryptocurrencies. But it is capable of much more and in this session, we will discuss where and how this technology is useful in project management.This session will explore the intersection of blockchain technology and project management. We will discuss the base concepts of blockchain, in particular, the notion of smart contracts and how to apply them to managing project-related activities. Smart contracts are the most transformative blockchain application. For example, a smart contract could be used to register project status reports or some project work performance data. A smart contract could also be used to automatically send a payment to a vendor as soon as a milestone has been met.Experts tell us that blockchain technology is an effective project management platform because it supports superior operational workflow. In this session, you will learn how implementing a blockchain-based project will lower risk, save time, and lower costs.