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Author:

Song, Wenlue (Song, Wenlue.) | Wu, Hanyuan (Wu, Hanyuan.) | Meng, Hongwei (Meng, Hongwei.) | Bian, Yifu (Bian, Yifu.) | Tang, Cong (Tang, Cong.) | Xi, Jiaqi (Xi, Jiaqi.) | Zhu, Haogang (Zhu, Haogang.)

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EI

Abstract:

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 of digital technologies. In recent years, a decentralized, peer-to-peer blockchain technology has attracted widespread attention from academia and industry. This paper provides a solution that combines blockchain technology with construction project fund management. The system involves participants such as the owner's unit, construction companies, government departments, banks, etc., adopting the technical architecture of the 'Xiong'an Blockchain Underlying System'. The core business and key logic processing are all implemented through smart contracts, ensuring the transparency and traceability of the fund payment process. The goal of ensuring investment quality, standardizing investment behavior, and strengthening cost control is achieved through blockchain technology. The application of this system in the management of Xiong'an construction projects has verified that blockchain technology plays a significant positive role in strengthening fund management, enhancing fund supervision, and ensuring fund safety in the construction process of engineering projects. It helps to eliminate the common problems of multi-party trust and transparent supervision in the industry and can further improve the investment benefits of government investment projects and improve the management system and operation mechanism of investment projects. © 2023 IEEE.

Keyword:

Blockchain Investments Construction Project management Construction industry Smart contract

Author Community:

  • [ 1 ] [Song, Wenlue]School of Computer Science and Engineering, Beihang University, Beijing, China
  • [ 2 ] [Wu, Hanyuan]Xiong'An Intelligent City Innovation Federation, Xiong'An Blockchain Lab, New Area, Xiong'an, China
  • [ 3 ] [Meng, Hongwei]Xiong'An Intelligent City Innovation Federation, Xiong'An Blockchain Lab, New Area, Xiong'an, China
  • [ 4 ] [Bian, Yifu]Xiong'An Intelligent City Innovation Federation, Xiong'An Blockchain Lab, New Area, Xiong'an, China
  • [ 5 ] [Tang, Cong]Temi Tech Ltd Beijing, Xiong'An Huoshu Tech Ltd Hebei, Beijing, China
  • [ 6 ] [Xi, Jiaqi]Beijing University of Technology, Beijing, China
  • [ 7 ] [Zhu, Haogang]School of Computer Science and Engineering, Beihang University, Beijing, China

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Source :

Year: 2023

Page: 28-33

Language: English

Cited Count:

WoS CC Cited Count: 0

SCOPUS Cited Count:

ESI Highly Cited Papers on the List: 0 Unfold All

WanFang Cited Count:

Chinese Cited Count:

30 Days PV: 0

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