The construction industry is increasingly exploring innovative technologies to address persistent challenges related to transparency, inefficiency, and project fragmentation. Blockchain technology, originally developed as the backbone of cryptocurrency systems, has emerged as a transformative tool for enhancing operations in the construction sector. This chapter critically examines the application of blockchain technology within the construction industry, highlighting its potential to improve payment processes, contract administration, electronic document management, and Building Information Modelling (BIM). Emphasis is placed on how blockchain facilitates automation through smart contracts, enhances data security via decentralised ledgers, and promotes collaboration across stakeholders by enabling transparent and traceable transactions. Furthermore, the chapter explores blockchain’s impact on sustainability, international construction, and supply chain management. Drawing on recent literature and practical implications, it positions blockchain as a key enabler of digital transformation and sustainable practices in construction. Despite its potential, challenges such as regulatory concerns, technological integration, and adoption barriers remain. The chapter concludes by recommending strategic approaches for harnessing blockchain’s full benefits in the built environment.

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Blockchain in the Construction Industry: A Strategic Overview

  • Opeoluwa Israel Akinradewo,
  • Clinton Ohis Aigbavboa,
  • Ayodeji Emmanuel Oke

摘要

The construction industry is increasingly exploring innovative technologies to address persistent challenges related to transparency, inefficiency, and project fragmentation. Blockchain technology, originally developed as the backbone of cryptocurrency systems, has emerged as a transformative tool for enhancing operations in the construction sector. This chapter critically examines the application of blockchain technology within the construction industry, highlighting its potential to improve payment processes, contract administration, electronic document management, and Building Information Modelling (BIM). Emphasis is placed on how blockchain facilitates automation through smart contracts, enhances data security via decentralised ledgers, and promotes collaboration across stakeholders by enabling transparent and traceable transactions. Furthermore, the chapter explores blockchain’s impact on sustainability, international construction, and supply chain management. Drawing on recent literature and practical implications, it positions blockchain as a key enabler of digital transformation and sustainable practices in construction. Despite its potential, challenges such as regulatory concerns, technological integration, and adoption barriers remain. The chapter concludes by recommending strategic approaches for harnessing blockchain’s full benefits in the built environment.