The construction industry has long faced the challenge of introducing collaborative systems among multiple stakeholders. This challenge creates a high level of rigidity in terms of processing shared information related to different processes, robust holistic regulations, payment actualizations, and resource utilization across different nodes. The need for a digital platform to cross-connect all stakeholders is necessary. A blockchain-based platform is a prime candidate to improve the industry in general and the construction supply chain (CSC) in particular. In this paper, a literature review is presented to establish the main challenges that CSC faces in terms of its effects on productivity and efficiency. In addition, the effect of applying blockchain platforms on a case study is presented and analyzed from performance and security level. The analysis aims to emphasize that blockchain, as presented in this paper, is a viable solution to the challenges in the CSC regardless of the risks associated with the security and robustness of the flow of information and data protection. Moreover, a threat analysis of applying a blockchain model on the CSC industry is introduced. This model indicates potential attacks and possible countermeasures to prevent the attacks. Future work is needed to expand, quantify, and optimize the threat model and conduct simulations considering proposed countermeasures for the different blockchain attacks outlined in this study.