Exploring the Barriers against Using Cryptocurrencies in Managing Construction Supply Chain Processes

Various stakeholders are involved in managing supply chain processes in construction. Suppliers can hardly tolerate upfront costs when faced with flaws in the payment pipeline. This is a serious problem in building construction that uses a large variety of materials as opposed to civil construction that requires fewer types of materials. Alternative secure payment systems are needed, and the use of cryptocurrencies can be an option. However, cryptocurrencies are seldom used in building construction projects due to several challenges that are mostly ignored in the existing literature. To fill this gap, this study investigates the use of cryptocurrencies in construction supply chains as an alternative payment solution to improve the financial performance of the stakeholders by taking advantage of this economical and traceable financial transaction system. The study involves exploratory, descriptive, and empirical survey research. Accordingly, a literature review, focus group discussions, and statistical analyses (Friedman test, Wilcoxon test, and Mann–Whitney U test) were performed. The results imply that a lack of technical knowledge about cryptocurrencies, fluctuations in the value of cryptocurrencies, limited market opportunities, security gaps, personal information required by cryptocurrency systems, no assurance of permanent use, and government actions limiting the use of cryptocurrencies were the most significant barriers against using cryptocurrencies in construction supply chain management. The findings are expected to provide critical information to construction professionals and regulatory agencies about the potential advantages and shortcomings of cryptocurrencies, hence motivating policymakers to create strategies that minimize the concerns of construction professionals about using cryptocurrencies in the building construction industry

Critical barriers to the adoption of integrated digital delivery in the construction industry

Integrated digital delivery (IDD) integrates digital technologies, data, and platforms to streamline work processes and connect all stakeholders involved in a project throughout the lifecycle. IDD provides significant value to stakeholders, but there is a slow uptake of the IDD in the construction industry. This study investigated the barriers to IDD adoption in the Hong Kong construction industry. Data was gathered using a questionnaire survey and analysed using descriptive statistical analysis, weighted correlation network analysis, and fuzzy synthetic evaluation. The results indicate that the five most critical barriers are rooted in relevant skill gaps, requirements for frequent model updates across the project lifecycle, higher investment requirements, interoperability of data from different software, and limited organizational budgets for IDD. The weighted network model showed that the most influential set of barriers are linked to stakeholder attitudes and the bespoke technical requirements of the IDD approach. Except for the legal dimension, the financial, organizational, technical, data, stakeholder, and industry group of barriers, each significantly impede IDD adoption in the construction industry. Thus, the study successfully explained why IDD adoption has been low in the construction industry and provides a fertile ground to develop interventions to promote wider adoption, where necessary