This page has only limited features, please log in for full access.

Dr. Herath Mudiyanselage Nelanga Bandara
CSIRO - Commonwealth Scientific and Industrial Research Organisation

Basic Info


Research Keywords & Expertise

0 Security
0 Blockchain
0 IoT
0 disributed systems
0 Cloud and edge computing

Honors and Awards

The user has no records in this section


Career Timeline

The user has no records in this section.


Short Biography

The user biography is not available.
Following
Followers
Co Authors
The list of users this user is following is empty.
Following: 0 users

Feed

Journal article
Published: 27 May 2021 in Informatics
Reads 0
Downloads 0

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.