Cheaper Smart Contracts for the Built Environment? Linking On-Chain and Off-Chain in a Blockchain-Governed Approach
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Author / Producer
Date
2024
Publication Type
Conference Paper
ETH Bibliography
yes
Citations
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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.
Permanent link
Publication status
published
External links
Book title
Proceedings of the 2024 European Conference on Computing in Construction
Journal / series
Volume
5
Pages / Article No.
42 - 49
Publisher
European Council on Computing in Construction
Event
2024 European Conference on Computing in Construction (EC³)
Edition / version
Methods
Software
Geographic location
Date collected
Date created
Subject
Organisational unit
09750 - De Wolf, Catherine / De Wolf, Catherine