New Ways of Data Governance for Construction? Decentralized Data Marketplaces as Web3 Concept just around the Corner

Abstract

In the upcoming era of distributed technological integration known as Web3, the built environment will need to adapt. Solving the most significant social, environmental and economic challenges will likely require new approaches to data sharing and efficient data management. This will need to occur within organizations, across software tools, and between partners. However, today’s approach of data fragmentation and a scattered system of data islands prevent efficient data usage in the construction industry.The question that now arises is whether the decentralized marketplace approach has the potential to make construction data sets more uniform, efficient,and usable for all stakeholders through distributed technological integration.Therefore, this paper’s contribution isto provide a conceptual starting point and possible research stream approach towards thisquestion. Doing so by outlining current data management challenges and discussing themin comparison with already existing web3 approaches in research and industry.