The Weather Ledger
Posted 12 May 2021
Having identified a critical pain point for the construction sector, the Weather Ledger aimed to minimise the administrative burden and (non-intuitive) subjectivity in making weather compensation event claims. Following a trial in real-world environments, this paper aims to share insights to demonstrate how the combination of internet of things (IoT) and distributed ledger technology (DLT) underpinning the Weather Ledger pilot has streamlined legal proceedings, reduced back office tasks and provided objectivity and trust to compensation events.
This consortium project, funded by Innovate UK, provided the opportunity to explore the potential benefits of using advanced digital technologies to provide accurate and timely weather data. This is a critical requirement for determining weather related compensation claims, managing adverse weather conditions and lessening the impact of one-in-10 year weather events.
The report examines the practical application of distributed ledger technology (DLT) and the internet of things (IoT) in the construction industry.