Smart Contract: Is it Really Smart in Construction?

Liupengfei Wu (), Weisheng Lu, Rui Zhao and Fan Xue
Additional contact information
Liupengfei Wu: University of Hong Kong
Weisheng Lu: University of Hong Kong
Rui Zhao: University of Hong Kong
Fan Xue: University of Hong Kong

A chapter in Proceedings of the 26th International Symposium on Advancement of Construction Management and Real Estate, 2022, pp 751-759 from Springer

Abstract: Abstract A smart contract is a protocol that can self-execute when predefined conditions are met. This new technology is considered destructive and can transfer the construction industry. In Blockchain 2.0, the combined use of blockchain and smart contracts allows users to express business logic to achieve more advanced transactions. This research aims to critically analyze the challenges, progresses, and benefits of smart contracts in construction through a systematic literature review to address whether it is smart. The findings suggested that numerous progress had been made to address the challenges of smart contracts. Besides, the benefits of smart contracts have attracted the construction industry. The research findings can open the avenue for researchers and construction practitioners to understand the impacts of the salient features of smart contracts and determine appropriate application areas.

Keywords: Smart contracts; Blockchain; Construction industry; Self-execution; Disruptive technology (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:lnopch:978-981-19-5256-2_59

Ordering information: This item can be ordered from
http://www.springer.com/9789811952562

DOI: 10.1007/978-981-19-5256-2_59

Access Statistics for this chapter

More chapters in Lecture Notes in Operations Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().