Cheaper Smart Contracts for the Built Environment?: Linking On-Chain and Off-Chain in a Blockchain-Governed Approach

Jens J. Hunhevicz; David F. Bucher; Kepeng Hong; Daniel M. Hall; Catherine De Wolf

doi:10.35490/EC3.2024.269

Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach

Jens J. Hunhevicz, David F. Bucher, Kepeng Hong, Daniel M. Hall, Catherine De Wolf

Design & Construction Management

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific › peer-review

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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	https://doi.org/10.35490/EC3.2024.269
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	https://ec-3.org/conference2024/ https://engineering.esteco.com/events/2024-european-conference-on-computing-in-construction

Keywords

smart contracts
blockchain
construction
smart buildings
built environment as a service

Access to Document

10.35490/EC3.2024.269

Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed ApproachFinal published version, 740 KBLicence: CC BY-NC-ND

Cite this

Hunhevicz, J. J., Bucher, D. F., Hong, K., Hall, D. M., & De Wolf, C. (2024). Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach. In M. Srećković, M. Kassem, R. Soman, & A. Chassiakos (Eds.), Proceedings of the 2024 European Conference on Computing in Construction (pp. 42-49). (Proceedings of the European Conference on Computing in Construction; Vol. 2024). European Council on Computing in Construction (EC3). https://doi.org/10.35490/EC3.2024.269

Hunhevicz, Jens J. ; Bucher, David F. ; Hong, Kepeng et al. / Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach. Proceedings of the 2024 European Conference on Computing in Construction. editor / Marijana Srećković ; Mohamad Kassem ; Ranjith Soman ; Athanasios Chassiakos. European Council on Computing in Construction (EC3), 2024. pp. 42-49 (Proceedings of the European Conference on Computing in Construction).

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Hunhevicz, JJ, Bucher, DF, Hong, K, Hall, DM & De Wolf, C 2024, Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach. in M Srećković, M Kassem, R Soman & A Chassiakos (eds), Proceedings of the 2024 European Conference on Computing in Construction. Proceedings of the European Conference on Computing in Construction, vol. 2024, European Council on Computing in Construction (EC3), pp. 42-49, European Conference on Computing in Construction, EC3 2024, Chania, Greece, 14/07/24. https://doi.org/10.35490/EC3.2024.269

Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach. / Hunhevicz, Jens J.; Bucher, David F.; Hong, Kepeng et al.
Proceedings of the 2024 European Conference on Computing in Construction. ed. / Marijana Srećković; Mohamad Kassem; Ranjith Soman; Athanasios Chassiakos. European Council on Computing in Construction (EC3), 2024. p. 42-49 (Proceedings of the European Conference on Computing in Construction; Vol. 2024).

Research output: Chapter in Book/Conference proceedings/Edited volume › Conference contribution › Scientific › peer-review

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Hunhevicz JJ, Bucher DF, Hong K, Hall DM, De Wolf C. Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach. In Srećković M, Kassem M, Soman R, Chassiakos A, editors, Proceedings of the 2024 European Conference on Computing in Construction. European Council on Computing in Construction (EC3). 2024. p. 42-49. (Proceedings of the European Conference on Computing in Construction). doi: 10.35490/EC3.2024.269