Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Drivers for Construction Stakeholders to Adopt Smart Contracts
Construction contracts are always regarded as complex and voluminous documents that make it harder toextract required information, preventing its smooth functioning. Due to the recent technologicaladvancements, automated and smart contracts can be considered as an alternative to the traditional contractdocuments that manage its provisions, obligations and clauses by itself. Since the adoption of smart contracts,which can only be performed with the whole participation of involved stakeholders, is limited in theconstruction industry, this study aims to investigate the stakeholder-associated drivers to implementing smartcontracts. For this purpose, a framework based on fuzzy technique for order of preference by the similarityto-ideal-solution(TOPSIS) is developed consisting of eighteen drivers to be prioritized. A number ofeighteen experts, who have adequate experience in both construction industry and contract administration,contributed to this study. The results indicate that (i) simple layout to read, (ii) reduction in risks of clients,(iii) clarity in responsibility and risk allocation, (iv) easy to comprehend from various stakeholders, and (v)conflict, claim and dispute reduction were the top five drivers to implement smart contracts. The findingsimply that other than its own advantages, the reasons to seek the adoption of smart contracts are mainly thedeficiencies of the traditional contract documents. The findings of this study are expected to assist researchand development departments of the firms seeking to implement smart contract, while addressing the gap inthe literature in this context.
Drivers for Construction Stakeholders to Adopt Smart Contracts
Construction contracts are always regarded as complex and voluminous documents that make it harder toextract required information, preventing its smooth functioning. Due to the recent technologicaladvancements, automated and smart contracts can be considered as an alternative to the traditional contractdocuments that manage its provisions, obligations and clauses by itself. Since the adoption of smart contracts,which can only be performed with the whole participation of involved stakeholders, is limited in theconstruction industry, this study aims to investigate the stakeholder-associated drivers to implementing smartcontracts. For this purpose, a framework based on fuzzy technique for order of preference by the similarityto-ideal-solution(TOPSIS) is developed consisting of eighteen drivers to be prioritized. A number ofeighteen experts, who have adequate experience in both construction industry and contract administration,contributed to this study. The results indicate that (i) simple layout to read, (ii) reduction in risks of clients,(iii) clarity in responsibility and risk allocation, (iv) easy to comprehend from various stakeholders, and (v)conflict, claim and dispute reduction were the top five drivers to implement smart contracts. The findingsimply that other than its own advantages, the reasons to seek the adoption of smart contracts are mainly thedeficiencies of the traditional contract documents. The findings of this study are expected to assist researchand development departments of the firms seeking to implement smart contract, while addressing the gap inthe literature in this context.
Drivers for Construction Stakeholders to Adopt Smart Contracts
Gürgün, Aslı Pelin (Autor:in) / Koç, Kerim (Autor:in)
31.05.2020
Aufsatz (Zeitschrift)
Elektronische Ressource
Englisch
DDC:
690
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