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Critical Risks Associated with Blockchain Adoption in China’s Construction Supply Chain

In: Proceedings of the 27th International Symposium on Advancement of Construction Management and Real Estate

Author

Listed:
  • Xiaoyue Lv

    (Wuhan University)

  • Zhaoqian Liao

    (Wuhan University)

  • Lin Yang

    (Wuhan University)

Abstract

With the successful landing of blockchain in more and more industries, the construction industry is on a path to finding possible application scenarios of blockchain. Blockchain, described as “open and transparent”, “safe and trustworthy”, and “immutable and traceable”, is expected to break the barriers to trust in the construction supply chain (CSC). However, the application of any new technology will generate more unknown risks due to the increase of uncertainties. As a result, the objective of this paper is to find the critical risks associated with blockchain adoption in China’s CSC. Through a literature review, this research identified 26 risks of blockchain application in the CSC, including seven types of risks: technical risk, industry risk, social risk, cost risk, management risk, legal risk, and force majeure risk. Then, a risk network was set up to analyze the importance of risk nodes by considering risk associations. Results showed that “Technical suitability”, “Public attitude”, and “Information asymmetry” were perceived to be the critical risks. This research had great reference significance to the future development of blockchain applications in China’s CSC.

Suggested Citation

  • Xiaoyue Lv & Zhaoqian Liao & Lin Yang, 2023. "Critical Risks Associated with Blockchain Adoption in China’s Construction Supply Chain," Lecture Notes in Operations Research, in: Jing Li & Weisheng Lu & Yi Peng & Hongping Yuan & Daikun Wang (ed.), Proceedings of the 27th International Symposium on Advancement of Construction Management and Real Estate, pages 1723-1736, Springer.
    • Handle: RePEc:spr:lnopch:978-981-99-3626-7_134
    DOI: 10.1007/978-981-99-3626-7_134
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