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Enterprise blockchain solutions for vibrant construction ecosystem: Grey Ordinal Priority Approach

Mahsa Sadeghi (Department of Construction and Real Estate, School of Civil Engineering, Southeast University, Nanjing, China)
Amin Mahmoudi (Department of Construction and Real Estate, School of Civil Engineering, Southeast University, Nanjing, China)
Xiaopeng Deng (Department of Construction and Real Estate, School of Civil Engineering, Southeast University, Nanjing, China)
Leila Moslemi Naeni (School of the Built Environment, University of Technology Sydney, Sydney, Australia)

Grey Systems: Theory and Application

ISSN: 2043-9377

Article publication date: 2 November 2023

Issue publication date: 15 January 2024

149

Abstract

Purpose

The aim of this article states that in each stage of the industrial revolution, only a few initiatives have been real game changers. In Industry 3.0, “Internet of Information” has transformed the business landscape via connectivity and communications. Enterprises could come together to spur innovation in a cooperative or competitive manner. In Industry 4.0, the “Internet of Value” has shown considerable benefits; and, blockchain technology is expected to touch all layers of a business ecosystem, and the construction industry is not an exception.

Design/methodology/approach

This study aims to answer the “How do enterprise blockchain solutions contribute to the vibrancy of the construction ecosystem from social, economic, and environmental aspects?” Following a comprehensive literature review, the Grey Ordinal Priority Approach (OPA-G) is employed in multiple criteria decision analysis (MCDA). OPA-G can select functionally rich enterprise blockchain solutions that meet the needs of the future construction industry, while there is uncertainty in the input data.

Findings

The results from the case study show that organization under observation welcomes an enterprise blockchain solution that delivers services related to “renewable energy certificates” in the context of “smart cities and built environment”. Employing high-ranked blockchain solutions brings vibracy and sustainability to construction ecosystem in terms of “C6. decentralized finance and investment,” “C3. multi-party and cross-industry collaboration,” and “C8. data-driven value creation”.

Originality/value

At the micro level, blockchain solutions automate processes, streamline operations, and build new capacities on a new business model. At the macro level, blockchain creates a vibrant ecosystem based on transparency, decentralization, consensus-based democracy, interoperability, etc. Indeed, the capability of blockchain solutions at an enterprise scale (enterprise blockchain solutions) can shape a new construction ecosystem. The practical implications of current research are preparing executives for a fundamentally different next normal in construction.

Keywords

Acknowledgements

Funding: This research was supported by the research start-up fund (No. 4005002321) of the first author at the Southeast University of China. The authors thank the editor(s) and anonymous reviewers for their insightful comments and careful reading of the current manuscript. More information regarding the Ordinal Priority Approach (OPA) can be found at https://www.ordinalpriorityapproach.com.

Citation

Sadeghi, M., Mahmoudi, A., Deng, X. and Moslemi Naeni, L. (2024), "Enterprise blockchain solutions for vibrant construction ecosystem: Grey Ordinal Priority Approach", Grey Systems: Theory and Application, Vol. 14 No. 1, pp. 115-143. https://doi.org/10.1108/GS-07-2023-0060

Publisher

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Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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