wang-outlookofblockchain-2017.pdf (626.68 kB)
The outlook of blockchain technology for construction engineering management
journal contributionposted on 2017-01-01, 00:00 authored by Jun WangJun Wang, Peng Wu, Xiangyu Wang, Wenchi Shou
Current construction engineering management suffers numerous challenges in terms of the trust, information sharing, and process automation. Blockchain which is a decentralised transaction and data management technology, has attracted increasing interests from both academic and industrial aspects since 2008. However, most of the existing research and practices are focused on the blockchain itself (i.e. technical challenges and limitations) or its applications in the finance service sector (i.e. Bitcoin). This paper aims to investigate the potential of applying blockchain technology in the construction sector. Three types of blockchain-enabled applications are proposed to improve the current processes of contract management, supply chain management, and equipment leasing, respectively. Challenges of blockchain implementation are also discussed in this paper.