Abstract
The digitization and automation of contracts within the built environment through blockchain has demonstrated potential. Nonetheless, the use of on-chain smart contracts can amount to substantial costs. This study proposes a blockchain-governed approach to individually assess whether and how to use blockchain for different components of contracts. We explain the rationale behind the concept and implement a pilot prototype of a performance-based, blockchain-governed contract. The results promise an alternative and more cost-effective approach to smart or intelligent contracts in the built environment, while still allowing for trusted verification of key contract parts through blockchain.
| Original language | English |
|---|---|
| Title of host publication | Proceedings of the 2024 European Conference on Computing in Construction |
| Editors | Marijana Srećković, Mohamad Kassem, Ranjith Soman, Athanasios Chassiakos |
| Publisher | European Council on Computing in Construction (EC3) |
| Pages | 42-49 |
| Number of pages | 8 |
| ISBN (Electronic) | 978-9-083451-30-5 |
| DOIs | |
| Publication status | Published - 2024 |
| Event | European Conference on Computing in Construction, EC3 2024 - Minoa Palace Resort, Chania, Greece Duration: 14 Jul 2024 → 17 Jul 2024 https://ec-3.org/conference2024/ https://engineering.esteco.com/events/2024-european-conference-on-computing-in-construction |
Publication series
| Name | Proceedings of the European Conference on Computing in Construction |
|---|---|
| Publisher | European Council on Computing in Construction (EC3) |
| Volume | 2024 |
| ISSN (Electronic) | 2684-1150 |
Conference
| Conference | European Conference on Computing in Construction, EC3 2024 |
|---|---|
| Abbreviated title | 2024 EC3 |
| Country/Territory | Greece |
| City | Chania |
| Period | 14/07/24 → 17/07/24 |
| Internet address |
Keywords
- smart contracts
- blockchain
- construction
- smart buildings
- built environment as a service