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An analysis of the probability of reducing risk in the construction and investment industry through the use of blockchain technology

Vol. 25, Iss. 8, AUGUST 2019

Received: 26 February 2019

Received in revised form: 24 May 2019

Accepted: 4 June 2019

Available online: 30 August 2019

Subject Heading: INVESTING

JEL Classification: M15, R30

Pages: 1907–1917

https://doi.org/10.24891/fc.25.8.1907

Abdukhanova N.G. Kazan State University of Architecture and Engineering (KSUAE), Kazan, Republic of Tatarstan, Russian Federation
ab-natali@yandex.ru

https://orcid.org/0000-0002-8513-3106

Kamaletdinova G.D. Kazan State University of Architecture and Engineering (KSUAE), Kazan, Republic of Tatarstan, Russian Federation
Kamaletdinova95@gmail.ru

ORCID id: not available

Zeinetdinova G.R. Kazan State University of Architecture and Engineering (KSUAE), Kazan, Republic of Tatarstan, Russian Federation
z_guzeliya@mail.ru

ORCID id: not available

Subject This article examines the impact of blockchain technology if it is used in the construction and investment industry.
Objectives The article aims to compare the construction and investment process risks in the current macroeconomic situation and the ones that may come up after the possible introduction of blockchain technology.
Methods For the study, we used the expert assessment method.
Results The article presents a model of risk analysis before the use of blockchain technology and after its possible implementation. Risk tables show that as a result of the introduction of blockchain technology, some of the risk indicators that are achieved due to the immutability of the chain of events are likely to decrease.
Conclusions and Relevance The article concludes that the introduction of blockchain technology in construction will contribute to a reduction of some types of risk. The main advantages of the technology discussed are to reduce the corruption risk. The proposed model can be applied in the project risk management, construction and investment sectors. This research can be useful for both developers and real estate development, analytics, risk forecasting, management, and marketing companies.

Keywords: blockchain, risk assessment, risk analysis, investment and construction project

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