Digital Enablers Of Construction Project Governance

• URL: http://arxiv.org/abs/2205.05930v1
• Date: Thu, 12 May 2022 07:44:16 GMT
• Title: Digital Enablers Of Construction Project Governance
• Authors: Paolo Eugenio Demagistris, Sandro Petruzzi, Rodolfo Pampaloni, Milan \v{S}migi\'c, Alberto De Marco, Waseem Khan and Filippo Maria Ottaviani
• Abstract summary: This study examines the present technological advancements that can lead to fix this problem. A smart contract-based approach is ideal for managing construction progress payments. This article offers a way for automating construction payments by formalizing smart contracts execution on a decentralized block-chain-based system.
• Score: 0.0
• License: http://creativecommons.org/licenses/by-sa/4.0/
• Abstract: 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 automation in payment systems and improved access to digital progress data, several payment applications rely nonetheless on inefficient and time-consuming procedures and documentation. This study examines the present technological advancements that can lead to fix this problem. A smart contract-based approach is ideal for managing construction progress payments that support autonomous process, it fills the gap between payments and project site progress evaluations. This article offers a way for automating construction payments by formalizing smart contracts execution on a decentralized block-chain-based system.

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