Automated Construction Payment Using Blockchain-Enabled Smart Contracts and Building Information Modelling

The potential of blockchain in the construction sector has been recognized in existing literature, as well as its capacity to be integrated into construction projects to automate financial transactions for increased transparency, security, and control. Permissioned blockchain, according to existing research, can be utilized to create a business network among project participants due to its features being compatible with the nature of the construction sector. This article lays out a framework for introducing permissioned blockchain technology, notably Hyperledger fabric, into the construction delivery process. The suggested framework comprises explicit procedures that show how to develop a network during the pre-construction, construction, and closeout stages. The suggested framework also displays the flow of financial transactions across the envisaged financial system. Because of the capabilities of Building Information Modelling/Management (BIM) and cost planning. As a result, the framework determines the data needed to enter the blockchain financial system from 4D/5D BIM. The benefits of employing blockchain in the construction business were emphasized in a systematic literature review, which also selected the best blockchain platform. The framework can also be used by academics and industry practitioners to recognise the architecture of smart contracts (chaincode) in the construction sector, such as formulating endorsement and validation policies. Finally, the findings of this article will be used to develop a proof-of-concept prototype that will be used to test and confirm the suggested conceptual framework's applicability using a real-world case study.