BLOCKCHAIN ADOPTION IN PROJECT MANAGEMENT

Abstract

Blockchain applications strive to develop an ecosystem that satisfy the needs of users in high-security requirements. The enterprises such as finance, insurance, the internet of things, and supply chain have seen more comprehensive blockchain research than the project management field. This research surveyed several blockchain applications to fill this gap and identified key traits applied to the project management field. This research concluded to build and test a prototype of a blockchain-based project management application. The model's operation implemented blockchain proof-of-work concept to specific areas of the project management field. The model deployed a smart contract on a permissionless blockchain testing environment, Electro-Optical System (EOS), to track project activities and manage project resources. The resulting model verified and recorded each project stakeholder transaction based on the smart contract across the blockchain nodes. This research demonstrated the feasibility of developing and highly secured decentralized project management tools that do not require a trusted third party.