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Project 1: Developing a Blockchain Based e-Procurement Framework for Construction Supply Chains
The construction industry produces buildings, bridges, dams, tunnels and others, which are one of the largest and complex products of human, and the construction industry has network structured and dynamic supply chains with multiple internal and external suppliers, generally along with short-term relationships. Complex nature of the construction supply chain causes significant financial issues and payment related issues in the industry and payment related issues persist as one of a key challenge in the industry. During the last decade, blockchain plays a significant role as a disruptive technology, which brought trust among untrusted environment without a third-party. Blockchain technology and smart contract have fundamental properties that can be used to address this type of finance issues. This research aims to develop an e-procurement framework to enhance the transparency, trust, and efficiency of payment handling by developing smart contract enabled blockchain platform for construction supply chains. The project provides an exciting opportunity to prototype and test blockchain and smart contracts algorithms for construction procurement processes. This ground-breaking research will be a catalyst for other applications in the construction industry to solve trust, transparency and performance issues in many processes.
Sources of Funding
- Centre for Smart Modern Construction Postgraduate Research Scholarship
- Perera, S., Nanayakkara, S., Rodrigo, M.N.N., Senaratne, S., Weinand, R. 2019. ‘Blockchain Technology: Is it Hype or Real in the Construction Industry?’, Journal of Industrial Information Integration (17), pp. 1-20, (ISSN: 2452-414X).
- Nanayakkara, S., Perera, S., Dilum Bandara, H.M.N., Thilini Weerasuriya, G., Ayoub, J. 2019. ‘Blockchain technology and its potential for the construction industry’, in: AUBEA Conference 2019. Australia.
- Hewavitharana, S., Nanayakkara, S., Perera, S. 2019. ‘Blockchain as a project management platform’, in: CIOB WCS 2019, Colombo, Sri Lanka.
- Nanayakkara, S., Perera, S., Senaratne, S. 2019. ‘Stakeholders’ Perspective on Blockchain and Smart Contracts Solutions for Construction Supply Chains’, in: CIB World Building Congress 2019. Hong Kong.