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Construction project governance relies on agreements between the actors along the construction industry value chain. The mutual obligations arising from these contracts rely on timely monetary transactions. Despite the advantages of…
Smart contract technology is reshaping conventional industry and business processes. Being embedded in blockchains, smart contracts enable the contractual terms of an agreement to be enforced automatically without the intervention of a…
Infrastructure maintenance is inherently complex, especially for widely dispersed transport systems like roads and railroads. Maintaining this infrastructure involves multiple partners working together to ensure safe, efficient upkeep that…
Performance contracts used for servitized business models enable consideration of overall life-cycle costs rather than just production costs. However, practical implementation of performance contracts has been limited due to challenges with…
With technological advances and the establishment of e-commerce models, business challenges have shifted to online platforms. The promise of embedding self-executing and autonomous programs into blockchain technologies has attracted…
The global financial landscape is experiencing significant transformation driven by technological advancements and evolving market dynamics. Moreover, blockchain technology has become a pivotal platform with widespread applications,…
Blockchain technology enables the execution of collaborative business processes involving untrusted parties without requiring a central authority. Specifically, a process model comprising tasks performed by multiple parties can be…
This work assesses the impact of blockchain and smart contract on the visibility of construction supply chain and in the context of payments (intersection of cash and product flows). It uses comparative empirical experiments (Charrette Test…
The development of blockchain technologies has enabled the trustless execution of so-called smart contracts, i.e. programs that regulate the exchange of assets (e.g., cryptocurrency) between users. In a decentralized blockchain, the state…
In an increasingly complex contractual landscape, the demand for transparency, security, and efficiency has intensified. Blockchain technology, with its decentralized and immutable nature, addresses these challenges by reducing intermediary…
Supply chain integration remains an elusive goal for the construction and engineering industry. The high degree of fragmentation and the reliance on third-party financial institutions has pushed the physical and financial supply chains…
As large scale construction projects become increasingly complex, the use and integration of advanced technologies are being emphasized more and more. However, the construction industry often lags behind most industries in the application…
Blockchains are decentralized systems that provide trustable execution guarantees. Smart contracts are programs written in specialized programming languages running on blockchains that govern how tokens and cryptocurrency are sent and…
Smart contracts are regarded as one of the most promising and appealing notions in blockchain technology. Their self-enforcing and event-driven features make some online activities possible without a trusted third party. Nevertheless,…
While the blockchain-based smart contract has become a hot topic of research over the last decade, not the least in the context of Industry 4.0, it now has well-known legal and technical shortcomings that currently prohibit its real-world…
Recently, enterprises have paid attention to permissioned blockchain (BC), where business transactions among inter-authorized organizations (forming a consortium) can automatically be executed on the basis of a distributed consensus…
In this paper we discuss how conventional business contracts can be converted into smart contracts---their electronic equivalents that can be used to systematically monitor and enforce contractual rights, obligations and prohibitions at run…
This dissertation addresses the challenge of ensuring transactional integrity and reducing costs in corporate governance through blockchain technology. We propose an on-chain methodology for certifying, registering, and querying…
Blockchain-based smart contract has become a growing field in the blockchain technology. What was once a technology used to solve digital transaction issues turns out to have some wider usage, including smart contract. The development of…
Research on blockchains addresses multiple issues, with one being writing smart contracts. In our previous research we described methodology and a tool to generate, in automated fashion, smart contracts from BPMN models. The generated smart…