Leveraging The Blockchain Technology To Improve Construction Value Delivery: The Opportunities, Benefits And Challenges
Bitcoin, the first cryptocurrency in the world has been in use since 2009. Blockchain is a technology that underlies the use of bitcoins. In recent times, blockchain technology is being touted as a promising tool which can transform many business operations. Indeed, it has been described as the next big thing after the emergence of the internet. This study examines the blockchain technology with the view to informing the construction industry on the potential of this technology to enhance value delivery. The study explores the potential uses, benefits, challenges and implications of the blockchain technology for the construction industry. Additionally, it provides future research areas for the leverage of the blockchain technology in project delivery and other construction-focused activities.