Applications of Blockchain Technology in the Construction Industry

Opeoluwa Akinradewo; Clinton Aigbavboa; Ayodeji Oke; Innocent Mthimunye

doi:10.1007/978-3-030-80094-9_33

Applications of Blockchain Technology in the Construction Industry

Opeoluwa Akinradewo
, Clinton Aigbavboa
, Ayodeji Oke
, Innocent Mthimunye

Construction Management and Quantity Surveying

University of Johannesburg

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

12 Citations (Scopus)

Abstract

Modern technology can be used to transform buildings and infrastructure that we live in. The ability of blockchain technologies to record, enable and secure large amount and types of transactions makes it an important technological innovation of the 21st century. Several studies have been carried out to review the applications of blockchain technology in the construction industry. However, these studies were limited to literature reviews with no empirical data to back up the submissions. To this end, this study evaluates the different applications of blockchain technology in the construction industry. To achieve this, a well-structured questionnaire survey of building professionals (Quantity surveyors, architects, engineers, construction managers) and information technology experts was undertaken. Retrieved data was analysed using descriptive statistics. Findings revealed that blockchain technology can be very useful in contract management, supply chain management, blockchain-based BIM, financial management among other applications in the construction industry.

Original language	English
Title of host publication	Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021
Editors	Evangelos Markopoulos, Ravindra S. Goonetilleke, Amic G. Ho, Yan Luximon
Publisher	Springer Science and Business Media Deutschland GmbH
Pages	275-282
Number of pages	8
ISBN (Print)	9783030800932
DOIs	https://doi.org/10.1007/978-3-030-80094-9_33
Publication status	Published - 2021
Event	AHFE Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021 - Virtual, Online Duration: 25 Jul 2021 → 29 Jul 2021

Publication series

Name	Lecture Notes in Networks and Systems
Volume	276
ISSN (Print)	2367-3370
ISSN (Electronic)	2367-3389

Conference

Conference	AHFE Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021
City	Virtual, Online
Period	25/07/21 → 29/07/21

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 9 Industry, Innovation, and Infrastructure

Keywords

Blockchain technology
Construction industry
Distributed ledger technology
Innovative technology
Modern technology

ASJC Scopus subject areas

Control and Systems Engineering
Signal Processing
Computer Networks and Communications

Access to Document

10.1007/978-3-030-80094-9_33

Cite this

Akinradewo, O., Aigbavboa, C., Oke, A., & Mthimunye, I. (2021). Applications of Blockchain Technology in the Construction Industry. In E. Markopoulos, R. S. Goonetilleke, A. G. Ho, & Y. Luximon (Eds.), Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021 (pp. 275-282). (Lecture Notes in Networks and Systems; Vol. 276). Springer Science and Business Media Deutschland GmbH. https://doi.org/10.1007/978-3-030-80094-9_33

Akinradewo, Opeoluwa ; Aigbavboa, Clinton ; Oke, Ayodeji et al. / Applications of Blockchain Technology in the Construction Industry. Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021. editor / Evangelos Markopoulos ; Ravindra S. Goonetilleke ; Amic G. Ho ; Yan Luximon. Springer Science and Business Media Deutschland GmbH, 2021. pp. 275-282 (Lecture Notes in Networks and Systems).

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title = "Applications of Blockchain Technology in the Construction Industry",

abstract = "Modern technology can be used to transform buildings and infrastructure that we live in. The ability of blockchain technologies to record, enable and secure large amount and types of transactions makes it an important technological innovation of the 21st century. Several studies have been carried out to review the applications of blockchain technology in the construction industry. However, these studies were limited to literature reviews with no empirical data to back up the submissions. To this end, this study evaluates the different applications of blockchain technology in the construction industry. To achieve this, a well-structured questionnaire survey of building professionals (Quantity surveyors, architects, engineers, construction managers) and information technology experts was undertaken. Retrieved data was analysed using descriptive statistics. Findings revealed that blockchain technology can be very useful in contract management, supply chain management, blockchain-based BIM, financial management among other applications in the construction industry.",

keywords = "Blockchain technology, Construction industry, Distributed ledger technology, Innovative technology, Modern technology",

author = "Opeoluwa Akinradewo and Clinton Aigbavboa and Ayodeji Oke and Innocent Mthimunye",

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Akinradewo, O , Aigbavboa, C, Oke, A & Mthimunye, I 2021, Applications of Blockchain Technology in the Construction Industry. in E Markopoulos, RS Goonetilleke, AG Ho & Y Luximon (eds), Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021. Lecture Notes in Networks and Systems, vol. 276, Springer Science and Business Media Deutschland GmbH, pp. 275-282, AHFE Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021, Virtual, Online, 25/07/21. https://doi.org/10.1007/978-3-030-80094-9_33

Applications of Blockchain Technology in the Construction Industry. / Akinradewo, Opeoluwa ; Aigbavboa, Clinton; Oke, Ayodeji et al.
Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021. ed. / Evangelos Markopoulos; Ravindra S. Goonetilleke; Amic G. Ho; Yan Luximon. Springer Science and Business Media Deutschland GmbH, 2021. p. 275-282 (Lecture Notes in Networks and Systems; Vol. 276).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

TY - GEN

T1 - Applications of Blockchain Technology in the Construction Industry

AU - Akinradewo, Opeoluwa

AU - Aigbavboa, Clinton

AU - Oke, Ayodeji

AU - Mthimunye, Innocent

PY - 2021

Y1 - 2021

N2 - Modern technology can be used to transform buildings and infrastructure that we live in. The ability of blockchain technologies to record, enable and secure large amount and types of transactions makes it an important technological innovation of the 21st century. Several studies have been carried out to review the applications of blockchain technology in the construction industry. However, these studies were limited to literature reviews with no empirical data to back up the submissions. To this end, this study evaluates the different applications of blockchain technology in the construction industry. To achieve this, a well-structured questionnaire survey of building professionals (Quantity surveyors, architects, engineers, construction managers) and information technology experts was undertaken. Retrieved data was analysed using descriptive statistics. Findings revealed that blockchain technology can be very useful in contract management, supply chain management, blockchain-based BIM, financial management among other applications in the construction industry.

AB - Modern technology can be used to transform buildings and infrastructure that we live in. The ability of blockchain technologies to record, enable and secure large amount and types of transactions makes it an important technological innovation of the 21st century. Several studies have been carried out to review the applications of blockchain technology in the construction industry. However, these studies were limited to literature reviews with no empirical data to back up the submissions. To this end, this study evaluates the different applications of blockchain technology in the construction industry. To achieve this, a well-structured questionnaire survey of building professionals (Quantity surveyors, architects, engineers, construction managers) and information technology experts was undertaken. Retrieved data was analysed using descriptive statistics. Findings revealed that blockchain technology can be very useful in contract management, supply chain management, blockchain-based BIM, financial management among other applications in the construction industry.

KW - Blockchain technology

KW - Construction industry

KW - Distributed ledger technology

KW - Innovative technology

KW - Modern technology

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DO - 10.1007/978-3-030-80094-9_33

M3 - Conference contribution

AN - SCOPUS:85112200766

SN - 9783030800932

T3 - Lecture Notes in Networks and Systems

SP - 275

EP - 282

BT - Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021

A2 - Markopoulos, Evangelos

A2 - Goonetilleke, Ravindra S.

A2 - Ho, Amic G.

A2 - Luximon, Yan

PB - Springer Science and Business Media Deutschland GmbH

T2 - AHFE Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021

Y2 - 25 July 2021 through 29 July 2021

ER -

Akinradewo O , Aigbavboa C, Oke A, Mthimunye I. Applications of Blockchain Technology in the Construction Industry. In Markopoulos E, Goonetilleke RS, Ho AG, Luximon Y, editors, Advances in Creativity, Innovation, Entrepreneurship and Communication of Design - Proceedings of the AHFE 2021 Virtual Conferences on Creativity, Innovation and Entrepreneurship, and Human Factors in Communication of Design, 2021. Springer Science and Business Media Deutschland GmbH. 2021. p. 275-282. (Lecture Notes in Networks and Systems). doi: 10.1007/978-3-030-80094-9_33

Applications of Blockchain Technology in the Construction Industry

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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