Preparing Construction Supply Chains for Blockchain: An Exploratory Analysis

Algan Tezel, Eleni Papadonikolaki, Ibrahim Yitmen, Per Hilletofth

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

Blockchain, a peer-to-peer controlled, distributed database structure, has the potential to profoundly affect the current business transactions in the construction industry through smart contracts, cryptocurrencies, and reliable asset tracking. The construction industry has often been criticized for being slow in embracing emerging technologies and not effectively diffusing those technologies through its supply chains. Often, the extensive fragmentation, traditional procurement structures, destructive competition, lack of collaboration and transparency, low-profit margins and human resources are shown as the main culprits for this. As Blockchain makes its presence felt strongly in many other industries like finance and banking, this paper investigates how to prepare construction supply chains for Blockchain technology through an explorative analysis. Empirical data for the study were collected through semi-structured interviews with 17 subject experts. Alongside presenting a SWOT (strengths, weaknesses opportunities, threats) analysis, the paper exhibits the requirements for and steps toward a construction supply structure facilitated by Blockchain
Original languageEnglish
Title of host publicationCIB World Building Conference 2019
Subtitle of host publicationConstructing Smart Cities
Place of PublicationHong Kong
PublisherInternational Council for Research and Innovation in Building and Construction
Number of pages10
ISBN (Electronic)9789623678216
Publication statusPublished - 17 Jun 2019
EventCIB World Building Congress 2019: Constructing Smart Cities - The Hong Kong Polytechnic University, Hong Kong, China
Duration: 17 Jun 201921 Jun 2019
http://www.wbc2019.hk/index.html

Conference

ConferenceCIB World Building Congress 2019
CountryChina
CityHong Kong
Period17/06/1921/06/19
Internet address

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