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Applicability Of Blockchain Technology For Digital Transformation Of Construction

Author

Listed:
  • Miglena Stoyanova

Abstract

Blockchain technology is attracting more and more attention due to its remarkable flexibility. It offers significant possibilities for use in construction. The sector is going through a digital transformation and updating its business practices, which are based on collaboration and information management, transparency in the exchange of data and contracts, and trust between participants in construction projects. Blockchain technology has the potential to significantly facilitate on-going change. As an appropriate system for managing trust issues, it can ensure transparent, reliable and distributed information sharing as well as support effective contract performance in construction.

Suggested Citation

  • Miglena Stoyanova, 2022. "Applicability Of Blockchain Technology For Digital Transformation Of Construction," INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE "CONSTRUCTION ENTREPRENEURSHIP AND REAL PROPERTY", University of Economics - Varna, issue 1, pages 137-144.
  • Handle: RePEc:vrn:emccon:y:2022:i:1:p:137-144
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    References listed on IDEAS

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    5. Piazzesi, Monika & Leombroni, Matteo & Rogers, Ciaran & Schneider, Martin, 2020. "Inflation and the Price of Real Assets," CEPR Discussion Papers 14390, C.E.P.R. Discussion Papers.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    BIM; Blockchain technology; Digital transformation in construction; Smart contracts;
    All these keywords.

    JEL classification:

    • C88 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other Computer Software
    • L74 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Construction
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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