Blockchain For Facilities Management
10 Pages Posted: 19 Nov 2019
Date Written: August 28, 2019
Facilities management encompasses assets management, space management, IoT management, regulatory/compliance adherence and purchasing and billing issuance. Assets management requires monitoring, fault detection and the use of IoT for detecting conditions and triggering events. Facilities management involves tracking work orders, schedule maintenance, doing preventive management, and also tracking assets status through equipment warranties, life cycle assessments, contracts and agreements. Data management of facilities can now be done using a blockchain instead of a database. Blockchain is a peer-to-peer distributed digital ledger that records data which is accessible and shared by multiple qualifying parties with security enabled. The beauty of blockchain is it provides transparency in data handling, traceability of all transactions and ease of collaboration between qualifying parties. Since facilities management involves issuance of contracts and agreements, smart contracts can be deployed to provides a transparent and faster way to make transactions since they can be automated in blockchain network.
In this paper, we have implemented a simple facilities management model using Hyperledger Composer Playground. To quickly develop and test the blockchain business networks, we have chosen to use Playground. In our model, we have built in employee information, vendor information, equipment tracking, fault report and maintenance report information. A token asset is employed to incentivize work completed to satisfaction. We will discuss how parameters like lifecycle, discount factor and depreciation information of equipment and facilities can be built into the model to present a more holistic view of the overall worth of assets at a snapshot.
Keywords: Blockchain, Hyperledger, Facilities Management, Asset Tagging
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