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

Xiaoyue Lv (), Zhaoqian Liao () and Lin Yang ()
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Xiaoyue Lv: Wuhan University
Zhaoqian Liao: Wuhan University
Lin Yang: Wuhan University

A chapter in Proceedings of the 27th International Symposium on Advancement of Construction Management and Real Estate, 2023, pp 1723-1736 from Springer

Abstract: 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.

Keywords: Blockchain; Construction Supply Chain (CSC); Risk; Smart contract (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-981-99-3626-7_134

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