The complementarity among Building Information Modelling (BIM), distributed ledger technology (DLT), smart contracts, and the Internet of Things (IoT) is increasingly acknowledged in industry reports and major national digital transformation initiatives. However, theoretical foundation and empirical evidence to ascertain such a prerogative are still very limited. This paper analyses the interactions between these technologies and proposes an approach that capitalises on their complementarity by linking the physical environment; the digital environment; agreements representing the contract; and the DLT environment. A simulated installation activity is used to verify the conceptual interrelations included in the proposed framework as a proof-of-concept. The simulation reveals how a mini smart contract - for a limited scope such as an installation activity work - can be executed within the proposed approach and how payments can be automated when project delivery is coupled with machine-readable BIM requirements and contract clauses. The paper also discusses the key limitations and challenges facing the adoption of the proposed approach and in particular the diffusion of smart contracts.
|Title of host publication
|International Conference on Smart Infrastructure and Construction 2019, ICSIC 2019
|Subtitle of host publication
|Driving Data-Informed Decision-Making
|Matthew J. DeJong, Jennifer M. Schooling, G.M.B. Viggiani
|Place of Publication
|ICE Publishing Ltd.
|Number of pages
|Published - 2019
|2nd International Conference on Smart Infrastructure and Construction: Driving Data-Informed Decision-Making, ICSIC 2019 - Cambridge, United Kingdom
Duration: 1 Jul 2019 → 3 Jul 2019
|2nd International Conference on Smart Infrastructure and Construction: Driving Data-Informed Decision-Making, ICSIC 2019
|1/07/19 → 3/07/19