EXPLORING OPPORTUNITIES OF DIGITAL TECHNOLOGIES FOR ENHANCING EFFICIENCY IN THE CIRCULAR ECONOMY WITHIN THE CONSTRUCTION INDUSTRY

Abstract

The construction industry is the largest consumer of raw materials and the largest generator of waste all over the world making it vulnerable to sustainability challenges. This research aims at establishing how blockchain (BC) and smart contract (SC) could improve circular economy strategies in construction industries. The research method used in the study is quantitative and data was collected through an online survey of 134 construction industry professionals from different countries with the most from the United Kingdom and Australia. The results of the study show that there is great potential for the enhancement of resource efficiency and efficiency of waste management within the construction sector through the adoption of BC and SC technologies but these are constrained by the following challenges. These are high infrastructure costs, lack of digital skills, and issues to do with security. The study recognises financial stability, organisational management, and government support as enablers in the adoption of the technology. Thus, the study enriches the existing body of knowledge by presenting a holistic view of the role of digital technologies in enabling circular economy in construction. The paper provides the concrete suggestions to the representatives of the tourism industry, stressing the need for the staged implementation strategies, sufficient technical support, and cooperation with other industries. This study provides evidence that despite the barriers, the benefits of adopting BC and SC technologies in construction circular economy practises are compelling enough to warrant implementation, given the right enabling environment.