Automated Payment and Contract Management in the Construction Industry by Integrating Building Information Modeling and Blockchain-Based Smart Contracts

Automated Payment and Contract Management in the Construction Industry by Integrating Building Information Modeling and Blockchain-Based Smart Contracts

Construction projects usually involve signing various contracts with specific billing procedures. In practice, dealing with complex contract structures causes significant problems, especially with regard to timely payment and guaranteed cash flow. Furthermore, a lack of transparency leads to a loss...

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Bibliographic Details
Main Authors: Katharina Sigalov, Xuling Ye, Markus König, Philipp Hagedorn, Florian Blum, Benedikt Severin, Michael Hettmer, Philipp Hückinghaus, Jens Wölkerling, Dominik Groß
Format: Article
Language:English
Published: MDPI AG 2021-08-01
Series:Applied Sciences
Subjects:
smart contracts
blockchain
automated payment
construction management
construction contracts
BIM
Online Access:https://www.mdpi.com/2076-3417/11/16/7653

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