Potential use of semantic blockchain technology in smart construction

Abstract

In recent years, the increased attention in distributed ledger technologies (DLTs) has sparked interest in their potential applications across various industries. This paper delves into the realm of the construction industry and explores the advancements made in semantic blockchain technology and its potential implications for smart construction practices. The primary research objective is to review the suitability of semantic blockchain approaches in specific usage domains within the construction sector. These domains include contracting with stakeholders, financial contracting, design and monitoring. To achieve this objective, the study investigates the integration of digital identity, access-control management, reputation management, trust computing and semantic blockchain approaches into construction processes. Through this analysis, the paper identifies the potential benefits in terms of enhanced efficiency, improved collaboration, heightened security and more informed decision making. Ultimately, these advancements are poised to create positive outcomes for all stakeholders involved in the construction process.