In the rapidly evolving landscape of construction engineering, a groundbreaking study led by Yongshun Xu from the School of Civil Engineering and Architecture at Hainan University in China is shedding light on the transformative potential of blockchain technology. Published in the journal *Buildings* (which translates to “Buildings” in English), the research employs a sophisticated combination of methodologies to identify key research topics and forecast trends in blockchain applications within the construction industry.
The study, which analyzed 474 blockchain-related research abstracts from prestigious databases like Web of Science and Scopus, reveals eight critical research areas. These range from industry adoption and implementation challenges to the integration of blockchain with emerging technologies and digital transformation. Notably, the research highlights the growing importance of smart contracts and payment mechanisms, as well as the optimization of construction supply chains.
Using the autoregressive integrated moving average (ARIMA) model, the study forecasts strong positive growth trajectories for topics such as industry adoption and implementation challenges, and project data and security management. “The results indicate a robust interest and investment in these areas, suggesting that blockchain technology is poised to significantly impact the construction industry,” says Yongshun Xu.
The implications for the energy sector are particularly compelling. As construction engineering increasingly embraces intelligent building systems, the integration of blockchain technology can enhance data security, streamline payment processes, and improve overall project management. This not only reduces operational inefficiencies but also supports the broader goals of sustainability and circular economy within the industry.
The study’s comprehensive framework provides actionable insights for both practitioners and researchers, facilitating a deeper understanding of blockchain’s evolution and implementation prospects. “By identifying these key research topics and forecasting trends, we aim to support the advancement of innovation within the industry,” explains Xu.
As the construction industry continues to evolve, the insights from this research could shape future developments, driving the adoption of blockchain technology and fostering a more efficient, secure, and sustainable construction ecosystem. The study’s findings are a testament to the transformative potential of blockchain, offering a roadmap for the industry’s future growth and innovation.