9. The Role of Blockchain Technology in the Future of Construction

If we look around, we see a transformation in all areas of digital industry, education or business. There has been a major transformation in the digital sector. Significant work, changes and improvements have been made in the design and manufacturing industries. Both the digital sector and the construction sector are experiencing a digital transfer. Technology continues to evolve to solve various problems that are emerging across all industries. Blockchain is also moving toward the construction industry. Combining Blockchain with Building Information Modeling (BIM) is a great combination. Blockchain is very useful for the manufacturing industry. Blockchain is a chain of interconnected blocks, where each block refers to the block before it. The main feature of Blockchain is to ensure information security. All information is stored in the Blockchain in codified, encrypted and hashed form. Blockchain is used for the accuracy of information exchanged between two actors. The overall structure of blocks in blockchain consists of two main parts. The first part contains the main information of the block in hashed form and the second part contains the address of the previous block in hashed form. In various construction projects, this data may include the smart contracts concluded between the employer, the contractor and the consultant, as well as the correspondence conducted with various organizations and the evaluation of workers’ working hours. The structural information is the most important data in the sensitive projects, and its accuracy should be evaluated, as filtering out such information leads to severe losses. The research method is descriptive with the aim of learning about the blockchain and combining it with the construction industry and building data modeling.