BTWINAS

Integration of Blockchain and Digital Twins for Smart Asset Lifecycle Management

The project aims to create a digital platform prototype that integrates emerging technologies such as Digital Twins, Blockchains, and Artificial Intelligence with Asset Management Processes in the smart built environment to ensure secure and accessible data processing.

Introduction

With sustainability becoming increasingly important for tenants and stakeholders, traditional facility management is transitioning towards asset life cycle management (ALM) that is operation and maintenance-focused. However, the asset management sector faces challenges such as fragmentation, complex supply chains, and segregated real estate life-cycle phases. Emerging technologies such as Digital Twins, Artificial Intelligence, the Internet of Things, and Blockchains are being integrated with industry-compliant BIM-based FM supply chains to interlink work processes, stakeholders, and assets' life cycle phases. The project aims to develop a Blockchain-enabled DT platform prototype for the realization of the full potential of smart ALM in the digital ecosystem, resulting in secure, transparent, traceable, and information-rich DT applications and reporting tools.

The project significance

This project envisions improving information flow and facilitating the digital transformation to take a step towards accomplishing the Smart Built Environment impact logic 2.0, which aims to achieve significant long-term effects such as reducing time and costs by 33% and minimizing climate impact by 40%. DT platform tackling decentralized sharing of DT asset data will provide:

- Asset Information Management Platform merged with IoT Networks and DT dimensions.

- Interrogative and predictive modelling through AI

- Trusted, traceable, and transparent blockchain enabled environment.

- Smart contract application.

Expected results

A smart collaborative platform, linked with a distributed blockchain record-keeping system, will provide comprehensive asset data analysis and management. The system will facilitate predicting the future behavior and performance of the assets in building facilities, provide smart building control systems, and develop tools to address all aspects of decision-making for the O&M process. The technology will enable targeted sustainability goals and reduce human error, downtime, and administration costs. The project aims to raise awareness and build knowledge for FM and real estate sectors and public sector organizations (Municipalities, etc.).

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