The Implication of Blockchain as a Disruptive Technology for Construction Industry

2020 ◽  
Vol 9 (2) ◽  
pp. 177-188
Author(s):  
Mohita Gangwar Sharma ◽  
Sunil Kumar
Keyword(s):  
Technology Adoption ◽  
Construction Industry ◽  
Modelling Technique ◽  
Disruptive Technology ◽  
Structural Modelling ◽  
Distributed Consensus ◽  
Interpretive Structural Modelling ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology

Adoption of blockchain technology has been widely construed as disruptive. Blockchain is a distributed ledger technology. It is secure by design because of its cryptography and distributed consensus mechanism, which also offers anonymity, persistence, auditability and resilience. The construction industry adopts a project-based approach and globally has been considered as a fragmented sector, predominantly in unorganised space. Given these characteristics, the technology adoption has been slow. This study looks at the challenges and adopts interpretive structural modelling technique to understand the linkages between these barriers. This study can provide managerial insights into designing strategies for overcoming the barriers for adoption of this disruptive technology.

scholarly journals Modeling Cost Saving and Innovativeness for Blockchain Technology Adoption by Energy Management

Energies ◽  
2020 ◽  
Vol 13 (18) ◽  
pp. 4783
Author(s):  
Nazir Ullah ◽  
Waleed S. Alnumay ◽  
Waleed Mugahed Al-Rahmi ◽  
Ahmed Ibrahim Alzahrani ◽  
Hosam Al-Samarraie
Keyword(s):  
Technology Adoption ◽  
Cost Saving ◽  
Energy Management ◽  
Ease Of Use ◽  
Perceived Usefulness ◽  
Perceived Ease Of Use ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Proposed Model

In developed nations, the advent of distributed ledger technology is emerging as a new instrument for improving the traditional system in developing nations. Indeed, adopting blockchain technology is a necessary condition for the coming future of organizations. The distributed ledger technology provides better transparency and visibility. This study investigated the features that may influence the behavioral intention of energy experts to implement the distributed ledger technology for the energy management of developing countries. The proposed model is based on the Technology Acceptance Model construct and the diffusion of the innovation construct. Based on a survey of 178 experts working in the energy sector, the proposed model was tested using structural equation modeling. The findings showed that perceived ease of use, perceived usefulness, attitude, and cost saving had a positive and significant impact during the blockchain technology adoption. However, innovativeness showed a positive effect on the perceived ease of use whereas an insignificant impact on the perceived usefulness. The present study offers a holistic model for the implementation of innovative technologies. For the developers, it suggest rising disruptive technology solutions.

Blockchain as a Disruptive Technology

2020 ◽  
pp. 130-173
Author(s):  
Gopala Krishna Behara ◽  
Tirumala Khandrika
Keyword(s):  
Digital Signature ◽  
Disruptive Technology ◽  
Distributed Network ◽  
Blockchain Technology ◽  
Distributed Ledger

Blockchain is a digital, distributed, and decentralized network to store information in a tamper-proof way with an automated way to enforce trust among different participants. An open distributed ledger can record all transactions between different parties efficiently in a verifiable and permanent way. It captures and builds consensus among participants in the network. Each block is uniquely connected to the previous blocks via a digital signature which means that making a change to a record without disturbing the previous records in the chain is not possible, thus rendering the information tamper-proof. Blockchain holds the potential to disrupt any form of transaction that requires information to be trusted. This means that all intermediaries of trust, as they exist today, exposed to disruption in some form with the initiation of Blockchain technology. Blockchain works by validating transactions through a distributed network in order to create a permanent, verified, and unalterable ledger of information.

Blockchain Technology as a Bridging Infrastructure Among Formal, Non-Formal, and Informal Learning Processes

2021 ◽  
pp. 959-970
Author(s):  
Aras Bozkurt ◽  
Hasan Ucar
Keyword(s):  
Informal Learning ◽  
Lifelong Learning ◽  
Educational Experiences ◽  
Learning Processes ◽  
Web 3.0 ◽  
Blockchain Technology ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Educational Processes ◽  
Formal And Informal Learning

Blockchain is an online decentralized and distributed ledger technology that has the ability to keep and track records in a safe, verifiable, and transparent manner. More significantly, it has an infrastructure that is compatible with Web 3.0, which offers great potential for lifelong learning. This chapter explains the different modalities of learning (formal, non-formal, informal), blockchain technology, and its current use in educational processes. Based on the findings, the authors suggest that blockchain technology can be used to connect and interlink different educational experiences that occur in different educational modalities, enabling us to evaluate educational processes holistically and thus promote lifelong learning through the use of cutting-edge technologies.

scholarly journals DIGITALIZATION IN CONSTRUCTION: BLOCKCHAIN APPLICABILITY IN THE INDUSTRY

2021 ◽  
Vol 8 (1) ◽  
Author(s):  
Giulia Pattini ◽  
Elena Seghezzi ◽  
Giuseppe Martino Di Giuda
Keyword(s):  
Construction Industry ◽  
Digital Transformation ◽  
Information Modeling ◽  
Distributed Information ◽  
Collaborative Environment ◽  
Distributed Ledger ◽  
Distributed Ledger Technology ◽  
Efficient Contract ◽  
Building Information ◽  
Suitable System

Blockchain, as a Distributed Ledger Technology (DLT), could disrupt the traditional hierarchy way in which information is shared and processes are developed in the construction industry. The fragmentation of people, processes and contracts has been considered as the main responsible for the sector negative trend. The information asymmetry characterizing the dynamics of the processes denies both the information traceability and the disciplines interoperability. The recent digital transformation boosted by Building Information Modeling (BIM) has promised a more transparent and collaborative environment. However, its adoption has gradually shown some trust issues in the information flow, discouraging participants from collaborating to achieve project goals. For these reasons, the research explores Blockchain in the construction industry, highlighting its potentials in supporting transparent, reliable and distributed information sharing. In particular, the research intends to combine the features of the digitalization, namely BIM and Blockchain, in the industry. To accomplish this, the first goal consists of an overall literature review on the current level of the Blockchain investigation in the built environment. Secondly, based on that analysis, two proposals for potential application of Blockchain in AECO sector are presented. This preliminary exploration intends to endorse Blockchain as a suitable system for governing the trust issues, supporting an efficient contract execution and a better sharing of all project information.

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