Blockchain 1.0 to Blockchain 4.0—The Evolutionary Transformation of Blockchain Technology

Mukherjee, Pratyusa; Pradhan, Chittaranjan

doi:10.1007/978-3-030-69395-4_3

Cited by 51 publications

(34 citation statements)

References 38 publications

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“…A distributed ledger's fundamental characteristic is its decentralization. Every entry in a distributed ledger includes a timestamp and a unique signature (created through cryptographic technology), making the ledger immutable and resistant to alteration [13].…”

Section: -4-2 Distributed Ledgermentioning

confidence: 99%

Blockchain Technology and the Future of Construction Industry in the Arab region :Applications, Challenges, and Future Opportunities

Mohammed

Alharthi

2022

Engineering Research Journal

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The construction industry sector is one of the oldest sectors in the world and plays a major role in the development and advancement of societies. However, the construction industry suffers from low production and efficiency compared to other sectors for several reasons, including the different interests of the parties involved in construction projects and the fear of some of keeping pace with modern technological developments, in addition to the lack of confidence among the participants in the project, which are among the most important factors that reduce efficiency and productivity. In 2008, a technology emerged with the ability to overcome many of the challenges facing the construction industry, namely, the blockchain technology, which is associated with the famous cryptocurrency bitcoin. Its main purpose is to prevent changes to digital documents and preserve the data stored in them to prevent it from being modified. This technology has applications in many fields. The construction sector, especially in the Arab region, suffers from a lack of knowledge of the potential of this technology to help the construction industry in the digital age. The main objectives of this study were to explore the role of blockchain technology in shaping the future of the construction industry and to determine what this technology could contribute to the construction sector, especially in combination with building information modelling (BIM) technology. The researchers assumed that the adoption of blockchain technology in the construction industry would be a solution to a large portion of the current problems of the industry, which have slowed the adoption of BIM technology. Literature on the concept of blockchain technology and its applications to the construction industry was reviewed. Semi-structured interviews with Arab experts and specialists were conducted to collect information and qualitative data about the use of blockchain technology in the construction industry, with the aim of conducting a strengthweaknesses-opportunities-threats (SWOT) analysis. The views and experiences of the experts interviewed with respect to the potential advantages of and opportunities offered by the integration of blockchain technology and BIM technology in the construction industry in the Arab region were sought, in order to propose a conceptual framework to facilitate the automation of the processes and the stages of design, tendering, construction, maintenance, and effective management of the entire life cycle of construction projects.

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Section: -4-2 Distributed Ledgermentioning

confidence: 99%

Blockchain Technology and the Future of Construction Industry in the Arab region :Applications, Challenges, and Future Opportunities

Mohammed

Alharthi

2022

Engineering Research Journal

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“…Blockchain has been ever-expanding its potential applications in more and more areas. The evolutionary transformation of BCT can be delineated in Table 2 from Blockchain 1.0 to Blockchain 4.0 [46][47]. Transaction/sec.…”

Section: Future Research Opportunities: Next Generation Blockchainmentioning

confidence: 99%

Blockchain Technology for Supply Chain Management: A Comprehensive Review

Shi¹

2022

Preprint

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In the current business environment, firms are eager to adopt new technology as they witness and perceive more and more successful business applications of new technologies, e.g., Big Data, Artificial Intelligence (A.I.), Cloud Computing, etc. As one of the disruptive technologies, Blockchain technology (BCT) is now drawing public attention owing to the cryptocurrency phenomenon (e.g., Bitcoin), for which Blockchain serves as the backbone technology. Given certain innovative features of BCT, especially its transparency, traceability, security, efficiency, confidentiality, and immutability, BCT holds out the promise of impacting supply chain operational and financial efficiencies. Recently, the burgeoning of Metaverse and Non-Fungible Token (NFT) has boosted the BCT as state-of-the-art technology to another notch. Motivated by the proliferating adoption of BCT, we conduct a holistic literature review with a focus on the status of research on BCT in the context of Supply Chain Management (SCM). In particular, this Blockchain-centered research reviews the research up to date on the Blockchain application in SCM. It provides holistic review in terms of (1) the functionality of BCT and its salient features; (2) the prevailing and potential applications of BCT; (3) and the business benefits and impact of BCT in SCM. Finally, we substantiate and highlight a variety of research directions.

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“…All interactions are cryptographically secured and added to an immutable record of transactions, which is a single source of truth (Perera et al, 2020). The details about how blockchain functions were described extensively by other authors, such as Perera et al (2020) and Mukherjee and Pradhan (2021). One of the most fundamental and disruptive innovations enabled by blockchain is smart contract, which is a digital program requiring no middlemen to execute defined terms once pre-defined conditions are met (Mukherjee and Pradhan, 2021).…”

Section: Blockchain Technologymentioning

confidence: 99%

“…The details about how blockchain functions were described extensively by other authors, such as Perera et al (2020) and Mukherjee and Pradhan (2021). One of the most fundamental and disruptive innovations enabled by blockchain is smart contract, which is a digital program requiring no middlemen to execute defined terms once pre-defined conditions are met (Mukherjee and Pradhan, 2021). A particular type of smart contract, which resembles a form of an organisation corporation working on a blockchain, is known as Decentralised Autonomous Organisation (DAOs).…”

Section: Blockchain Technologymentioning

confidence: 99%

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Conceptual framework for decentralised information management along the entire lifecycle of a built asset.

Jaskula¹,

Papadonikolaki²,

Rovas³

2022

Proceedings of the 2022 European Conference on Computing in Construction

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The construction industry is characterised by a high level of fragmentation, inefficient collaboration and a lack of trust between project stakeholders. Issues due to the fragmented nature of the construction industry are extenuated from centralised Building Information Modelling approaches. Blockchain technology can help address information management issues by providing data traceability, transparency, and immutability. First, this paper reviews centralised and decentralised approaches to lifecycle information management. Second, a conceptual framework for decentralised information management workflow based on blockchain technology and the Inter-Planetary File System is proposed. Smart contracts can improve the information flow between different phases by providing more accountability.

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Blockchain 1.0 to Blockchain 4.0—The Evolutionary Transformation of Blockchain Technology

Cited by 51 publications

References 38 publications

Blockchain Technology and the Future of Construction Industry in the Arab region :Applications, Challenges, and Future Opportunities

Blockchain Technology and the Future of Construction Industry in the Arab region :Applications, Challenges, and Future Opportunities

Blockchain Technology for Supply Chain Management: A Comprehensive Review

Conceptual framework for decentralised information management along the entire lifecycle of a built asset.

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