Blockchain applications in infrastructure
Student name: Mr Coleman Charles Sabbithi
Guide: Dr Gopal K Sarangi
Year of completion: 2018
Host Organisation: KPMG Global Services Private Limited
Supervisor (Host Organisation): Mr Sumit Sharma
Abstract: In 2015, WEF predicted that 10% of global GDP would be stored on blockchains or distributed ledgers by the end of the next decade. Though the technology came to prominence through cryptocurrencies, more applications are predicted in the next phase of technological development known as Blockchain 2.0. 2016-17 saw a steep rise in the number of blockchain companies that propose applications in infrastructure – power and utilities; healthcare; education; justice and security; and public governance – by facilitating decentralization, security, and immutability of transaction records. While most of the proposed applications are in the operational landscape, blockchain also offers benefits of transparency, asset lifecycle monitoring, and stakeholder integration in a project development environment. This study gives a blockchain-based SPV model that offers these benefits. Operational stakeholders can be onboarded to the same blockchain to automate operational transactions. This study describes key smart contracting arrangement that can be implemented in power sector in the UK and toll roads sector in the USA. These automation models can function as initial guidance for infrastructure developers seeking to implement blockchain and smart contracts at an SPV level.
Keywords: blockchain, distributed ledger, power, toll roads, project finance
