A Review of Block chain’s Potential in Contemporary Construction: Addressing Security, Sustainability, Obstacles, and Future Directions

ICRTME25-155 A Review of Block chain’s Potential in
Contemporary Construction: Addressing Security,
Sustainability, Obstacles, and Future Directions

ABSTRACT
The integration and effects of blockchain technology in the construction sector are examined
in this paper, with an emphasis on how it may be used to solve enduring issues like fraud,
inefficiencies, payment delays, and transparency. The decentralized ledger system of
blockchain technology is recognized as a crucial facilitator of trust and accountability, which
may enhance supply chain management, contract administration, and construction
procedures. Promising solutions for real-time data sharing, logistics optimization, and
payment automation are provided by applications like smart contracts and the Blockchain of
Things (BCoT). This paper highlights advantages, such as improved security, traceability,
and transparency, as well as the drawbacks, such as scaling problems, and resistance to new
technology. In order to effectively utilize blockchain's potential, this paper also highlights the
necessity of a cooperative change in industrial culture, promoting standardization and
improved stakeholder participation. The use of blockchain in risk management, the circular
economy, and property title management, as well as its integration with the Internet of Things
(IoT) and Building Information Modelling (BIM), are important topics for more learning. To
fully comprehend blockchain's influence, this paper outlines adoption frameworks, points out
research gaps, and provide a path for future research

Keywords: Blockchain, Smart Contract, Sustainability, IoT, Supply Chain, Embedded
Systems, Disaster Management