Application decision model of blockchain technology in construction supply chain

Abstract

Abstract With the advent of the global digital era, the new generation of information technology represented by blockchain has gradually matured and penetrated into various industries, triggering a new round of technological innovation and industrial revolution. In construction projects, it is difficult for individual participants in the construction supply chain to make decisions about whether to adopt blockchain technology. It involves a complex decision-making process, the need to coordinate various players, the large capital investments involved, and the AD hoc nature of the construction supply chain. The characteristics and advantages of blockchain technology are a natural match for the construction industry's pain points, helping to solve many of the thorthoric problems that have long plagued the construction industry, such as poor information sharing, lack of trust among stakeholders, complex supply chain processes, payment delays, and lack of accountability. This study proposes a blockchain technology adoption decision model that can predict the success rate of each construction supply chain (CSC) participant after adopting blockchain technology, thereby helping them make decisions about whether or not to adopt blockchain. First, based on the TOE framework, the decision factors that affect blockchain adoption are summarized. Then, the decision model is established by Likert scale and DEMATEL method. Finally, an example is given to apply the model. This study can help CSC participants make informed decisions about whether to adopt blockchain technology. This study also further expands the construction industry as an important field of IS research.