APPLICABILITY OF BLOCKCHAIN TECHNOLOGY FOR DIGITAL TRANSFORMATION OF CONSTRUCTION

Miglena Stoyanova

INTERNATIONAL SCIENTIFIC AND PRACTICAL CONFERENCE "CONSTRUCTION ENTREPRENEURSHIP AND REAL PROPERTY", 2022, issue 1, 137-144

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.

Keywords: BIM; Blockchain technology; Digital transformation in construction; Smart contracts (search for similar items in EconPapers)
JEL-codes: C88 L74 O33 (search for similar items in EconPapers)
Date: 2022
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