Automated Construction Payment Using Blockchain-Enabled Smart Contracts and Building Information Modelling Article Swipe

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Sandra Matarneh , Faris Elghaish , Farzad Pour Rahimian , Nashwan Dawood ·

YOU? · · 2022 · Open Access · · DOI: https://doi.org/10.7146/aul.455.c235

The potential of blockchain in the construction sector has been recognized in existing literature, as well as its capacity to be integrated into construction projects to automate financial transactions for increased transparency, security, and control. Permissioned blockchain, according to existing research, can be utilized to create a business network among project participants due to its features being compatible with the nature of the construction sector. This article lays out a framework for introducing permissioned blockchain technology, notably Hyperledger fabric, into the construction delivery process. The suggested framework comprises explicit procedures that show how to develop a network during the pre-construction, construction, and closeout stages. The suggested framework also displays the flow of financial transactions across the envisaged financial system. Because of the capabilities of Building Information Modelling/Management (BIM) and cost planning. As a result, the framework determines the data needed to enter the blockchain financial system from 4D/5D BIM. The benefits of employing blockchain in the construction business were emphasized in a systematic literature review, which also selected the best blockchain platform. The framework can also be used by academics and industry practitioners to recognise the architecture of smart contracts (chaincode) in the construction sector, such as formulating endorsement and validation policies. Finally, the findings of this article will be used to develop a proof-of-concept prototype that will be used to test and confirm the suggested conceptual framework's applicability using a real-world case study.

Related Topics

Computer Science

Building Information Modeling

Operations Management

Electrical Engineering

Concepts

Blockchain Transparency (behavior) Computer science Smart contract Building information modeling Process (computing) Process management Design science research Architecture Conceptual framework Engineering management Computer security Information system Business Engineering Operations management Electrical engineering Epistemology Scheduling (production processes) Art Philosophy Visual arts Operating system

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Type: article
Language: en
Landing Page: https://doi.org/10.7146/aul.455.c235
PDF: https://ebooks.au.dk/aul/catalog/download/455/312/1883-2?inline=1
OA Status: gold
Cited By: 1
References: 52
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OpenAlex ID: https://openalex.org/W4283370028

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DOI: https://doi.org/10.7146/aul.455.c235

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Title: Automated Construction Payment Using Blockchain-Enabled Smart Contracts and Building Information Modelling

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Type: article

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Language: en

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Publication year: 2022

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Publication date: 2022-06-20

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Authors: Sandra Matarneh, Faris Elghaish, Farzad Pour Rahimian, Nashwan Dawood

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Landing page: https://doi.org/10.7146/aul.455.c235

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Concepts: Blockchain, Transparency (behavior), Computer science, Smart contract, Building information modeling, Process (computing), Process management, Design science research, Architecture, Conceptual framework, Engineering management, Computer security, Information system, Business, Engineering, Operations management, Electrical engineering, Epistemology, Scheduling (production processes), Art, Philosophy, Visual arts, Operating system

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Cited by: 1

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