Work

Systematic literature review on smart contracts in the construction industry: Potentials, benefits, and challenges

Year: 2022

Type: review

Abstract: The development of digital transformation in the construction industry has led to the increasing adoption of smart contracts. As programmable applications to automatically write, verify, and enforce transaction conditions, smart contracts can be used in different areas mainly to improve automation level, information security, and built digital environment enhancement. However, the smart contract is commonly mentioned as a blockchain appendage, while its unique connotation and value in the construction industry have not been recognized. Therefore, this study carries out a systematic review based on 81 research articles published from 2014 to 2021 on smart contract applications in construction to explore and highlight their potentials under domain-specific requirements. Results are analyzed according to research type categorization and domain codification. Eight research domains are identified, where the three most highly explored domains are contract and payment, supply chain and logistics, and information management. The integration of smart contracts with other innovative concepts and advanced technologies is analyzed. The applicability, benefits, and challenges of smart contract applications regarding different research domains are discussed.

Source: Frontiers of Engineering Management

DOI: 10.1007/s42524-022-0188-2

Authors: Xuling Ye, Ningshuang Zeng, Markus König

Institutions: Ruhr University Bochum, Southeast University

Language: English

Topic: Blockchain Technology Applications and Security

Subfield: Information Systems

Field: Computer Science

Domain: Physical Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

Estimated APC paid: $2,890