Finance and Credit

Abstracting and Indexing

Referativny Zhurnal VINITI RAS
LCCN Permalink
Google Scholar

Online available



Cyberleninka (24 month OA embargo)

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

Abdukhanova N.G. Kazan State University of Architecture and Engineering (KSUAE), Kazan, Republic of Tatarstan, Russian Federation

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

ORCID id: not available

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

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


  1. Tapscott D., Tapscott A. Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World. N.Y., Portfolio/Penguin, 2016, 368 p.
  2. Swan M. Blokchein: Skhema novoi ekonomiki [Blockchain: Blueprint for a New Economy]. Moscow, Olimp–Biznes Publ., 2017, 240 p.
  3. Chekan M.V. [The possible prospects of blockchain technologies development in Russia and world]. Sinergiya Nauk, 2018, no. 21, pp. 145–165. (In Russ.) URL: Link
  4. Abdukhanova N.G. [Leasing in the Republic of Tatarstan problems and growth prospects]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2007, no. 9(2), pp. 148–152. URL: Link (In Russ.)
  5. Vigna P., Casey M.J. Epokha kriptovalyut. Kak bitkoin i blokchein menyayut mirovoi ekonomicheskii poryadok [The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order]. Moscow, Mann, Ivanov i Ferber Publ., 2018, 432 p.
  6. Soboleva E.A., Lugovaya V.P. Osobennosti razvitiya proektnoi deyatel'nosti investitsionno-stroitel'nogo kompleksa: detalizatsiya i perspektivy: monografiya [Features of development of the project activity of the construction and investment complex: detailing and prospects: a monograph]. Moscow, MICE-MGSU Publ., 2017, 163 p.
  7. Brodetskii G.L. [Optimizing logistics systems in the face of risk and uncertainty]. Logistika segodnya = Logistics Today, 2008, no. 2, pp. 84–95. (In Russ.)
  8. Voronina N.F. [Analysis of the socio-economic factors value of the innovative farm market in the Moscow region]. Biznes. Obrazovanie. Pravo = Business. Education. Law, 2019, no. 2, pp. 97–103. URL: Link (In Russ.)
  9. Voropaev V.I. Upravlenie proektami v Rossii [Project Management in Russia]. Moscow, Alans Publ., 1995, 225 p.
  10. Bakhareva O.V., Kordonchik D.M. [The study of innovation processes in the region: BIM technology]. Upravlenie ekonomicheskimi sistemami: elektronnyi nauchnyi zhurnal, 2018, no. 12. (In Russ.) URL: Link
  11. Svetlovskaya A.Yu., Nelina V.V. [Analysis of risks arising from construction organizations during construction and installation works]. Elektronnyi setevoi politematicheskii zhurnal Nauchnye trudy KUBGTU, 2017, no. 1, pp. 215–222. (In Russ.) URL: Link
  12. Abramov S.I. Organizatsiya investitsionno-stroitel'noi deyatel'nosti [Organization of investment and construction activities]. Moscow, Tsentr ekonomiki i marketinga Publ., 1999, 222 p.

View all articles of issue


ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 26, Iss. 6
June 2020