Awareness of cryptocurrencies among construction professionals


Genc M. I., GÜRGÜN A. P.

11th International Structural Engineering and Construction Conference, ISEC-11 2021, Virtual, Online, 26 - 31 July 2021, vol.8 identifier identifier

  • Publication Type: Conference Paper / Full Text
  • Volume: 8
  • Doi Number: 10.14455/isec.2021.8(1).pro-02
  • City: Virtual, Online
  • Keywords: Blockchain, Payment methods, Procurement, Supply chain
  • Yıldız Technical University Affiliated: Yes

Abstract

© 2021 ISEC Press.Recent technological developments are gradually causing changes and transformations in the existing global money and payment systems. The worldwide interest in electronically created cryptocurrencies as an alternative payment system is growing day by day. As a natural result of this interest, the payment system has been receiving attention with the potential to integrate into project processes as an alternative to traditional payment methods. The construction industry is one of the sectors, where cryptocurrencies could be integrated into several processes including money transactions. In this study, the awareness of cryptocurrencies among construction professionals and the possibility of their use in the future projects are investigated. For this purpose, a survey was prepared and administered to 284 professionals working in construction companies in Turkey. The collected results showed that the awareness of cryptocurrency among construction professionals changed based on firm size by revenue and having international or national operations. In general, it could be stated that cryptocurrencies would be considered as an alternative payment tool in the construction projects as the awareness increases.