UCL School of Management is delighted to welcome Eleni Papadonikolaki, UCL Bartlett, to host a research seminar discussing: Blockchain innovation ecosystems: Is construction ready for open innovation?
The construction sector is undergoing digitalisation through innovations such as Building Information Modelling (BIM), Internet of Things (IoT) and blockchain. The UK, and many other countries, standardise and mandate such digital technologies. However, in the lower tiers of the construction supply chain, the democratisation of digital technologies is problematic and Small and Medium Enterprises (SMEs) struggle to keep up due to limited resources. This digital divide reinforces mistrust in improvement agendas and mandates.This talk problematises around digital innovation ecosystems and how these are governed, using blockchain, an emerging digital technology, as an example. Innovation ecosystems focus on co-creating value outside the traditional boundaries of firms and are particularly fitting to digital innovations such as blockchain. Blockchain due to its decentralised nature for open-source contributions is ideal for studying innovation ecosystems and in particular, open innovation ecosystems.How do construction actors collaborate and compete in the blockchain innovation ecosystem? Through the lens of innovation ecosystems, this presentation reports on data from semi-structured interviews with a global sample of 25 experts. The presentation will discuss the decentralised nature of blockchain and outline propositions for rethinking the role of key construction actors in leading/orchestrating innovation and digital transformation in construction.