Understanding the Determinants of Blockchain Technology Adoption in the Construction Industry

Blockchain has great potential for facilitating the development of the construction industry but has not been widely used to this end. The objective of this study was to identify the factors affecting the adoption of blockchain in the construction industry from the technical, organizational, and environmental dimensions with the help of theories related to technology adoption. Empirical results showed that relative advantage, compatibility, competitive pressure, technological maturity, organizational readiness, and policy have an impact on intention to adopt blockchain in the construction industry through perceived usefulness or perceived ease of use. Competitive pressure has the greatest impact on the internal variables of the technology acceptance model (TAM) (0.696). Perceived cost of adoption does not have a significant effect on blockchain adoption behavior. However, in contrast to previous research, organizational readiness has a negative effect (-0.03) on perceived usefulness. The research results provide inspiration for further research on the impact mechanisms of blockchain adoption in the construction industry, as well as guidance for governments to formulate blockchain adoption policies and guidance for the widespread application of blockchain in construction.

Automated summary

This study identifies the factors influencing the adoption of blockchain in the construction industry from technical, organizational, and environmental dimensions. The results show that factors such as relative advantage, compatibility, competitive pressure, technological maturity, organizational readiness, and policy have an impact on the intention to adopt blockchain. Competitive pressure has the greatest influence on the internal variables of the technology acceptance model. The findings provide insights for further research and guidance for governments in formulating blockchain adoption policies and promoting its widespread application in construction.