Smart Contracts

a digital, self-executing, legal contract

What are
smart contracts?

A Smart Contract is a digital, self-executing version of a regular legal contract – a computer protocol designed to automate contract clauses.

Save time and money

Achieve greater capital efficiency

Minimize disputes

Become the client or provider of choice

Crush transactional waste

Get more construction for your money

SMART CONTRACTS + BLOCKCHAIN

OUR vision is to lead transformative industry change and provide a platform to reliably deliver better capital projects.

Smart Contracts in the
Construction Industry

The capital projects business model has remained unchanged for decades. It’s time for us to challenge our core management science and seek innovative solutions that drive significant increases in value while drastically reducing waste in the capital asset development process.

The PrairieDog leadership team consists of construction industry and project management experts who know the challenges construction industry stakeholders face. We are starting with Smart Contracts because it’s a proven technology that delivers immediate value. It simply makes sense. When you execute a Smart Contract, you start saving money immediately.

How Smart Contracts Work

  • The data required to verify the conditions of the smart contract are sourced from existing systems and technologies (for example, project execution tools)
  • The smart contract defines the data specification and the data is brought into a structured “Industrial IoT” via APIs or other means
  • The smart contract then executes the transaction using the data as defined by the encoded business logic
  • The transaction executed by the Smart Contract is posted to a block in a distributed ledger, viewable to the contract parties
  • The block is verified through the consensus of the smart contract parties and can be pushed back to company systems of record
  • The block stores all relevant data and documentation required by the smart contract and it cannot be changed
  • Payments are automated and can be initiated immediately

The Competitive Advantage

Get paid faster while achieving greater capital efficiency, minimizing disputes and crushing transactional waste.
Get more construction for your money!
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