Blockchain is considered a breakthrough technology in the construction industry, with the potential to improve the trust environment and workflow of construction stakeholders. Although recent research offers hints regarding possible contributing elements to blockchain adoption in the construction industry, no specific study has addressed this topic. This knowledge gap hinders the adoption and promotion of blockchain in construction organizations. This study aimed to identify the determinants of blockchain adoption in the construction industry and verify the influence of the combination of various factors on adoption intention. Based on the technology–organization–environment framework, a conceptual model of blockchain adoption in the construction industry was constructed. Data were collected through the distribution of questionnaires, and 244 professionals in the construction field participated in this study. To evaluate the model hypotheses, we used a two-stage partial least squares structural equation modeling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA) combination. The PLS-SEM revealed that factors such as compatibility, top management support, relative advantage, regulatory support, cost, competitive pressure, organizational readiness, and firm size significantly influence blockchain adoption. The fsQCA indicated that six causal conditions achieve high adoption intention. This is one of the first empirical studies on blockchain adoption in the construction industry, which can aid organizations, policymakers, and project participants in making informed decisions regarding the adoption of blockchain.

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Factors Influencing the Adoption of Blockchain in the Construction Industry: A Hybrid Approach Using PLS-SEM and fsQCA

Blockchain is a technology that allows the recording of information in a way that it is difficult or practically impossible to alter, hack, or cheat. It is a new, promising technology, considered by many as a general-purpose technology (GPT). GPTs are technologies that have the potential to affect an entire economy, impacting economic growth and transforming both everyday life and the ways in which we conduct business. We present a bibliometric analysis of the relevant literature, followed by a discussion about monetary mediums and the evolution of bitcoin, as the first digital medium managing to solve the “double-spending” problem and the first successful implementation of blockchain technology. The computational operations involved in blockchain are presented, together with the cryptographic technologies associated with it, its unique characteristics, and the advantages it offers as a technology. A comprehensive literature review is provided, of the current state of the art in blockchain in the fields of civil engineering, architecture and the construction industry. Six important application areas are identified, and the relevant literature is investigated. Namely, building information modelling and computer aided design, contract management and smart contracts, construction project management, smart buildings and smart cities, construction supply chain management, and real estate. Finally, we discuss the future applications, the challenges and the opportunities that blockchain technology brings to these fields.

https://www.frontiersin.org/articles/10.3389/fbuil.2022.840303/pdf

Blockchain in Civil Engineering, Architecture and Construction Industry: State of the Art, Evolution, Challenges and Opportunities

Suitability analysis of consensus protocols for blockchain-based applications in the construction industry

Various stakeholders are involved in managing supply chain processes in construction. Suppliers can hardly tolerate upfront costs when faced with flaws in the payment pipeline. This is a serious problem in building construction that uses a large variety of materials as opposed to civil construction that requires fewer types of materials. Alternative secure payment systems are needed, and the use of cryptocurrencies can be an option. However, cryptocurrencies are seldom used in building construction projects due to several challenges that are mostly ignored in the existing literature. To fill this gap, this study investigates the use of cryptocurrencies in construction supply chains as an alternative payment solution to improve the financial performance of the stakeholders by taking advantage of this economical and traceable financial transaction system. The study involves exploratory, descriptive, and empirical survey research. Accordingly, a literature review, focus group discussions, and statistical analyses (Friedman test, Wilcoxon test, and Mann–Whitney U test) were performed. The results imply that a lack of technical knowledge about cryptocurrencies, fluctuations in the value of cryptocurrencies, limited market opportunities, security gaps, personal information required by cryptocurrency systems, no assurance of permanent use, and government actions limiting the use of cryptocurrencies were the most significant barriers against using cryptocurrencies in construction supply chain management. The findings are expected to provide critical information to construction professionals and regulatory agencies about the potential advantages and shortcomings of cryptocurrencies, hence motivating policymakers to create strategies that minimize the concerns of construction professionals about using cryptocurrencies in the building construction industry.

/pdf/exploring-the-barriers-against-using-cryptocurrencies-in-3hvbe9bv.pdf

Exploring the Barriers against Using Cryptocurrencies in Managing Construction Supply Chain Processes

Investigating the barriers to the adoption of blockchain technology in sustainable construction projects

Blockchain is regarded as a potential technology for transforming the architecture, engineering, and construction (AEC) industry, and the number of related publications is increasing rapidly. However, a systematic review of blockchain applications in the AEC industry is lacking. The objective of this study was to review the current status of blockchain applications via a bibliometric analysis combined with a systematic literature review. According to related articles collected from databases, the present status of blockchain was analysed with regard to the distribution of articles over publication years, journals, institutions, countries, cooperation networks between authors, keyword co-occurrence networks, and research methodologies. The results indicated that research on blockchain applications is still relatively new and fragmented with regard to several topics. Five areas of benefit were identified: (i) supply chain management, (ii) contract management, (iii) information management, (iv) stakeholder management, and (v) integration management. On the basis of the technology–organisation–environment framework, nine types of challenges were identified. Future research opportunities were proposed according to the research findings. This study contributes to the current body of knowledge and provides guidelines for further research on blockchain applications in the AEC industry.

When Blockchain Meets the AEC Industry: Present Status, Benefits, Challenges, and Future Research Opportunities

Contracts are essential for managing the relationship among public–private partnership (PPP) partners. However, the impact of contracts on the trust between partners is unclear, especially in PPP p...

https://journals.sagepub.com/doi/pdf/10.1177/21582440211038245

Ming Chi

Papers

When Blockchain Meets the AEC Industry: Present Status, Benefits, Challenges, and Future Research Opportunities

Enhancing Trust Between PPP Partners: The Role of Contractual Functions and Information Transparency: