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Construction industry embraces blockchain technology and NFTs

Construction giant XCMG has chosen Conflux as its blockchain platform for NFTs and future global applications. XCMG is one of the leading heavy construction machinery manufacturers in China, with a presence in more than 183 countries around the world. Now, the company is looking to expand its presence in blockchain technology through its partnership with Conflux.

The Conflux blockchain platform is a high-performance blockchain that uses a tree structure instead of a chain to process transactions faster and more energy-efficiently. With this partnership, XCMG will be able to leverage Conflux's blockchain technology for the creation and management of NFTs in its products and services.

But... In what ways can blockchain technology help the construction industry? Blockchain technology can have several practical uses in the construction industry. For example, it can be used to create digital records of building ownership, which can help prevent corruption and fraud. In addition, it can also be used to create smart contracts that automate certain construction processes, such as purchasing materials or paying subcontractors. This can help reduce costs and improve efficiency. It can also be used to track the origin of construction materials and ensure their authenticity and quality, which can be especially important in high-security construction projects.

But this is just the beginning, Conflux and XCMG are working together to develop future global blockchain applications that will benefit the construction and heavy machinery industry. This partnership may also provide greater visibility for Conflux in the construction industry, as well as increased adoption of blockchain technology by companies in the sector.

XCMG's collaboration with Conflux is yet another sign of the growing adoption of blockchain technology in the construction industry. By using blockchain technology, XCMG can increase transparency and traceability in its processes, which in turn can improve efficiency and security in the company's supply chain.

In summary, XCMG's partnership with Conflux for the implementation of NFTs and future blockchain applications is an important step towards the adoption of this technology in the construction and heavy machinery industry. The collaboration can also be beneficial to both parties by providing greater visibility and adoption of blockchain technology in the industry.

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