Yes. Building a structure below grade with concrete block (CMU) requires close attention to drainage details and placement of positive side waterproofing. Foundation Coat forms a permanent, continuous membrane that prevents water entry.
Foundation Coat is a fiber reinforced cementitious coating that can also be used to coat laid stack CMU's. Dry stack construction is eliminating the traditional mortar joints and troweling Foundation Coat on both sides of the wall. Because block is not perfectly uniform it may be easier and faster to lay the CMU in a bed joint but eliminate the head joint. The resulting wall is stronger than conventional masonry.