Tezel, A;
Papadonikolaki, E;
Yitmen, I;
Hilletofth, P;
(2019)
Preparing Construction Supply Chains for Blockchain: An Exploratory Analysis.
In:
Proceedings of the CIB World Building Congress 'Construting Smart Cities'.
International Council for Research and Innovation in Building and Construction (CIB): Hong Kong, China.
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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 and focus groups. 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.
Type: | Proceedings paper |
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Title: | Preparing Construction Supply Chains for Blockchain: An Exploratory Analysis |
Event: | CIB World Building Congress 2019 'Construting Smart Cities' |
Location: | Hong Kong |
Dates: | 17 June 2019 - 21 June 2019 |
Open access status: | An open access version is available from UCL Discovery |
Publisher version: | https://www.cibworld.nl/site/home/index.html |
Language: | English |
Additional information: | This version is the author accepted manuscript. For information on re-use, please refer to the publisher’s terms and conditions. |
Keywords: | Blockchain, Smart Contract, Supply Chain Management, Project Management, SWOT |
UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment |
URI: | https://discovery.ucl.ac.uk/id/eprint/10076425 |
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