DIGITALIZATION IN CONSTRUCTION: BLOCKCHAIN APPLICABILITY IN THE INDUSTRY

Blockchain, as a Distributed Ledger Technology (DLT), could disrupt the traditional hierarchy way in which information is shared and processes are developed in the construction industry. The fragmentation of people, processes and contracts has been considered as the main responsible for the sector negative trend. The information asymmetry characterizing the dynamics of the processes denies both the information traceability and the disciplines interoperability. The recent digital transformation boosted by Building Information Modeling (BIM) has promised a more transparent and collaborative environment. However, its adoption has gradually shown some trust issues in the information flow, discouraging participants from collaborating to achieve project goals. For these reasons, the research explores Blockchain in the construction industry, highlighting its potentials in supporting transparent, reliable and distributed information sharing. In particular, the research intends to combine the features of the digitalization, namely BIM and Blockchain, in the industry. To accomplish this, the first goal consists of an overall literature review on the current level of the Blockchain investigation in the built environment. Secondly, based on that analysis, two proposals for potential application of Blockchain in AECO sector are presented. This preliminary exploration intends to endorse Blockchain as a suitable system for governing the trust issues, supporting an efficient contract execution and a better sharing of all project information.