Coadjute, a UK proptech startup, is partnering with housing associations L&Q, Notting Hill Genesis, Bromford and Origin to build a blockchain platform that will increase safety, efficiency and accountability in housing construction.
The London-based cloud software company has already developed a decentralised workflow platform for businesses and customers involved in any element of real estate ("build, buy, occupy"). Now Coadjute wants to apply its proptech expertise for the greater good.
After the 2017 Grenfell Tower tragedy that killed at least 70 people, the UK government commissioned an independent review of building regulations and fire safety, particularly in residential construction. Dame Judith Hackitt released her final report, now dubbed “the Hackitt Report,” with this main conclusion: "the current system of building regulations and fire safety is not fit for purpose and that a culture change is required to support the delivery of buildings that are safe, both now and in the future."
Coadjute has taken up this call and, along with several housing associations, is designing software to streamline and synchronize housing construction so that is more transparent, more efficient, and most importantly: safer.
The software is called Quality Chain, a workflow application that unifies all stakeholders on a single project track – and seals cracks so no decisions or details can slip away as the project progresses through and among architects, developers, clients, subcontractors, and housing associations.
Currently each of these parties operate their own distinct systems, each in a silo. Because Quality Chain is decentralised and built on blockchain, now all parties can share a single source of truth yet still retain their own technology, data, and security.
John Reynolds, CEO and founder of Coadjute, said: “The UK needs to double the number of new homes built each year. The reality is that this cannot be achieved without a thorough overhaul of the technology underpinning construction. We believe blockchain provides the opportunity to unify, simplify and validate every stage in an otherwise complex process and create a trusted, immutable record, which all parties contribute to and agree.”
Matthew Gardiner, head of ideation at L&Q said: “Quality Chain provides a method for all organisations involved in development to come to an agreement on any obligation, statement of work, deliverable or document providing a ‘single source of the truth’ as a basis for improving workflow management and efficiency. Its potential to improve quality and cut costs is significant.”
The Quality Chain prototype has been completed, with the aim of bringing the product to market by March 2020. Coadjute was founded in 2018 and has raised £750,000 in seed funding to date.