The construction industry is responsible for over 30% of extracted natural resources and 25% of solid waste generated globally. This is mainly resulted due to the linear economic model of ‘take, make, dispose’, where materials are disposed at the end of its lifecycle. Circular economy (CE) was introduced to mitigate the issues in the traditional linear economic model and keep the materials in a closed loop to retain their maximum value. Multiple stakeholders are involved in the construction supply chains creating a complex network of stakeholders. To implement CE in construction, connecting its key stakeholders is a priority. Blockchain could be a potential platform to connect stakeholders, and together with smart contracts could provide the digital infrastructure for future CE. Blockchain was initially used to record cryptocurrency transactions while its application is currently being explored by various other industries. This research aimed at exploring the potential of blockchain for connecting stakeholders for CE in construction. The CE principles identified in ReSOLVE framework were mapped with blockchain to identify the possible integrations and its suitability. Blockchain’s salient features such as decentralisation, immutability, security, transparency, and so forth play an important role when integrating blockchain with CE. A blockchain-based framework was proposed to connect stakeholders to enable CE in construction. This could be further extended to develop the system architecture of a blockchain-based application to connect construction stakeholders in construction supply chains and achieve a CE.

错误:搜索内容不能为空,请输入英文关键词
错误:关键词超出字数限制,请精简
高级检索

Potential of Blockchain for Connecting Stakeholders for Circular Economy in Construction

  • Sepani Senaratne,
  • Navodana Rodrigo,
  • Laura M. M. C. E. Almeida,
  • Srinath Perera,
  • Xiaohua Jin

摘要

The construction industry is responsible for over 30% of extracted natural resources and 25% of solid waste generated globally. This is mainly resulted due to the linear economic model of ‘take, make, dispose’, where materials are disposed at the end of its lifecycle. Circular economy (CE) was introduced to mitigate the issues in the traditional linear economic model and keep the materials in a closed loop to retain their maximum value. Multiple stakeholders are involved in the construction supply chains creating a complex network of stakeholders. To implement CE in construction, connecting its key stakeholders is a priority. Blockchain could be a potential platform to connect stakeholders, and together with smart contracts could provide the digital infrastructure for future CE. Blockchain was initially used to record cryptocurrency transactions while its application is currently being explored by various other industries. This research aimed at exploring the potential of blockchain for connecting stakeholders for CE in construction. The CE principles identified in ReSOLVE framework were mapped with blockchain to identify the possible integrations and its suitability. Blockchain’s salient features such as decentralisation, immutability, security, transparency, and so forth play an important role when integrating blockchain with CE. A blockchain-based framework was proposed to connect stakeholders to enable CE in construction. This could be further extended to develop the system architecture of a blockchain-based application to connect construction stakeholders in construction supply chains and achieve a CE.