The Influence of the Blockchain Technology on Trust in construction Supply Chain Management

Abstract

Blockchain technology is booming in many industries. Its application in supply chain management is also gradually increasing. Supply chain management has long been committed to reducing costs and increasing efficiency and is trying to optimise resources and reduce the fragmentation. Trust has always been an important factor in managing supply chain relationships, and it also affects the efficiency of supply chain operations. The blockchain technology provides tools for data tracking, data sharing, and smart contracts for supply chain management. These applications help to enhance the sources of trust in supply chain management and provide contractors with protection mechanisms to avoid the risks and costs of opportunistic behaviour in collaboration. The research uses semi-structured interviews and publicly-available information to collect data from experts in blockchain and construction supply chain management. By content analysis , this paper discovers features and applications of the blockchain, explores sources of trust in supply chain management and explains and demonstrates the impact of blockchain technology on trust in construction supply chain management.