Applications of Blockchain Technology in the Construction Industry

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.