The interest in the implementation of distributed ledger technologies (DLTs) is on the rise in the construction sector. One specific type of DLT that has recently attracted much attention is blockchain. Blockchain has been mostly discussed conceptually for construction to date. This study presents some empirical discussions on supply chain management (SCM) applications of blockchain for construction by collecting feedback for three blockchain-based models: project bank accounts (PBAs) for payments, reverse auction-based tendering for bidding, and asset tokenization for project financing. The feedback was collected from three focus groups and a workshop. The working prototypes for the models were developed on Ethereum. The implementation of blockchain in payment arrangements was found to be simpler than in tendering and project tokenization workflows. However, the blockchain integration of those workflows may have large-scale impacts on the sector in the future. A broad set of general and model-specific benefits/opportunities and requirements/challenges was also identified for blockchain in construction. Some of these include streamlined, transparent transactions and rational trust building, and the need for challenging the sector culture, upscaling the legacy information technology (IT) systems, and compliance with the regulatory structures.@en

Blockchain as a form of distributed ledger enabling the renowned cryptocurrency Bitcoin has been in the spotlight since the late 2000s. The early discussions on its practical implementation were conducted mainly for the banking and finance industries with a promising narrative. Alongside the recent surge in the interest for the technology for a wide-range of possible applications such as smart contracts, crypto-assets, tokenization, secure transaction recording, peer-to-peer (P2P) trade, and transparent governance, its potential for the Built Environment (BE) has started to come more frequently into question. These discussions often contain a tone of caution, nevertheless, hinting the challenges for the technology in the BE context. This chapter is aimed at summarizing those opportunities and challenges for blockchain in the BE with a particular emphasis on its potential influence on trust, transparency and cybersecurity. Directions of future research are also provided contributing to the cyber-physical convergence in Construction 4.0.@en

Blockchain, a peer-to-peer, controlled, distributed database structure, has the potential to profoundly affect current business transactions in the construction industry through smart contracts, cryptocurrencies, and reliable asset tracking. The construction industry is often criticized for being slow in embracing emerging technologies and not effectively diffusing them 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 technology makes its presence felt strongly in many other industries like finance and banking, this study investigates the preparation of 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 strengths, weaknesses, opportunities, and threats analysis (SWOT), the study exhibits the requirements for and steps toward a construction supply structure facilitated by blockchain technology.@en

Purpose: Rapid advancements in blockchain technology transform various sectors, attracting the attention of industrialists, practitioners, policymakers and academics, and profoundly affect construction businesses through smart contracts and crypto-economics. This paper explores the blockchain innovation ecosystem in construction. Design/methodology/approach: Through a qualitative study of 23 diverse interviewees, the study explores how open or closed the blockchain innovation ecosystem in construction is and who its emerging orchestrators are. Findings: The data showed that construction aims towards an open innovation blockchain ecosystem, although there are elements of hybridisation and closedness, each system pointing out to different orchestrators. Practical implications: The study has implications for governments and large companies in construction, showing that open innovation initiatives need to be encouraged by policymakers through rules, regulations and government-sponsored demonstrator projects. Social implications: The data showed that there is lack of readiness for business model change to support open innovation blockchain ecosystems in construction. Originality/value: This is the first study applying the open innovation theory in the construction industry and sheds light into the phenomenon of blockchain, suggesting routes for further democratisation of the technology for policymakers and practitioners.@en

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.@en

Blockchain technology has been considered a game-changer across many sectors and slowly gains traction in construction. Because of immutability and transparency, blockchain is seen as a solution to the fragmentation and distrust. Various industry players, government and policymakers are increasingly interested in co-creating ideas with this technology. This collective interest on blockchain implies the possibility for democratising it following an Open Innovation (OI) paradigm. We explore the feasibility of OI paradigm in construction using blockchain as an example and research setting. Through content analysis of semi-structured interviews with 24 experts we explore openness/closedness of blockchain innovation ecosystems. The data showed that OI is still in its infancy in construction. Whereas blockchain implies openness and transparency, construction focuses on closed blockchain ecosystems due to resistance in sharing data and research initiatives. This brings implications for government and construction clients who are deemed facilitators of digital revolution.@en