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Samudaya Nanayakkara
Centre for Smart Modern Construction, School of Engineering, Design and Built Environment, Western Sydney University, Penrith 2751, Australia

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Journal article
Published: 27 May 2021 in Informatics
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The construction industry has dynamic supply chains with multiple suppliers usually engaged in short-term relationships. Government legislation, novel types of payment agreements, conventional information technology solutions, and supply chain management best practices have endeavoured to solve payment-related financial issues in the construction industry, which are mainly caused by the complexities of the construction supply chain. Nevertheless, payment-related issues persist as one of the key challenges in the industry. Applications of blockchain technology–a trusted, distributed data storing mechanism–along with smart contracts are gaining focus as solutions for complex interorganisational processes. A smart contract is a self-executing script that codifies a set of rules or agreements between multiple parties and runs across the blockchain network. This paper identifies the suitability of blockchain and smart contract technologies in solving payment issues in the construction industry. An expert forum of construction industry stakeholders served as the primary data collection method through a structured questionnaire. The key finding of the paper is that blockchain and smart contract powered solutions can significantly mitigate the payment and related financial issues in the construction industry, including partial payments, nonpayments, cost of finance, long payment cycle, retention, and security of payments.

ACS Style

Samudaya Nanayakkara; Srinath Perera; Sepani Senaratne; Geeganage Weerasuriya; Herath Bandara. Blockchain and Smart Contracts: A Solution for Payment Issues in Construction Supply Chains. Informatics 2021, 8, 36 .

AMA Style

Samudaya Nanayakkara, Srinath Perera, Sepani Senaratne, Geeganage Weerasuriya, Herath Bandara. Blockchain and Smart Contracts: A Solution for Payment Issues in Construction Supply Chains. Informatics. 2021; 8 (2):36.

Chicago/Turabian Style

Samudaya Nanayakkara; Srinath Perera; Sepani Senaratne; Geeganage Weerasuriya; Herath Bandara. 2021. "Blockchain and Smart Contracts: A Solution for Payment Issues in Construction Supply Chains." Informatics 8, no. 2: 36.

Review article
Published: 11 January 2020 in Journal of Industrial Information Integration
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The dawn of the 21st century has seen the advent of many technologies targeting commercial and financial sectors. These include Big Data, Internet of Things and FinTechs such as blockchain. Blockchain is a type of a distributed database that is used to replicate, share, and synchronise data spread across different geographical locations such as multiple sites, countries, or organisations. The main property of blockchain is that there is no central administrator or centralised data storage mechanism. Consensus algorithms govern the peer-to-peer decentralised network. Numerous benefits and applications of blockchains have resulted in it becoming popular among a broad spectrum of businesses, but is it the case in the construction industry? Given, the backward nature of the construction industry in digitalisation and its reticence to change it becomes important to analyse the potential impact of Blockchains as a potential disruptive technology. Although there exists a significant research gap and the potential possibility to test blockchain in the construction sector, the construction industry is historically reported as the second lowest sector to have adopted information technology. This leads to a conundrum whether blockchain is a pure technological hype or whether there is a real potential application in construction. The paper is aimed at critically analysing the application potential of blockchains in construction through a use case analysis and comprehensive literature review to resolve whether it is pure hype or real. The exploration revealed that due to the exponential uses of blockchain, investments involved, and a number of start-up businesses contributing to Industry 4.0, blockchain indeed has a credible potential in the construction industry.

ACS Style

Srinath Perera; Samudaya Nanayakkara; M.N.N. Rodrigo; Sepani Senaratne; Ralf Weinand. Blockchain technology: Is it hype or real in the construction industry? Journal of Industrial Information Integration 2020, 17, 100125 .

AMA Style

Srinath Perera, Samudaya Nanayakkara, M.N.N. Rodrigo, Sepani Senaratne, Ralf Weinand. Blockchain technology: Is it hype or real in the construction industry? Journal of Industrial Information Integration. 2020; 17 ():100125.

Chicago/Turabian Style

Srinath Perera; Samudaya Nanayakkara; M.N.N. Rodrigo; Sepani Senaratne; Ralf Weinand. 2020. "Blockchain technology: Is it hype or real in the construction industry?" Journal of Industrial Information Integration 17, no. : 100125.

Conference paper
Published: 08 November 2019 in Proceedings of the 8th World Construction Symposium
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ACS Style

T. Hewavitharana; University of Moratuwa; Samudaya Nanayakkara; S. Perera; Western Sydney University. Blockchain as a project management platform. Proceedings of the 8th World Construction Symposium 2019, 1 .

AMA Style

T. Hewavitharana, University of Moratuwa, Samudaya Nanayakkara, S. Perera, Western Sydney University. Blockchain as a project management platform. Proceedings of the 8th World Construction Symposium. 2019; ():1.

Chicago/Turabian Style

T. Hewavitharana; University of Moratuwa; Samudaya Nanayakkara; S. Perera; Western Sydney University. 2019. "Blockchain as a project management platform." Proceedings of the 8th World Construction Symposium , no. : 1.