A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
Digital building twins and blockchain for performance-based (smart) contracts
Abstract Servitization business models can use performance-based contracts to consider overall life-cycle costs rather than just production costs. However, practical implementation of performance contracts has been limited due to challenges with performance evaluation, accountability, and financial concepts. As a solution, this paper proposes the connection of the digital building twin with blockchain-based smart contracts to execute performance-based digital payments. First, we conceptualize a technical architecture to connect blockchain to digital building twins. The digital building twin stores and evaluates performance data in real-time. The blockchain ensures transparency and trusted execution of automatic performance evaluation and rewards through smart contracts. Next, we demonstrate the feasibility of both the concept and technical architecture by integrating the Ethereum blockchain with digital building models and sensors via the Siemens building twin platform. The resulting prototype is the first full-stack implementation of a performance-based smart contract in the built environment.
Highlights Proposes the connection of blockchain smart contracts and digital building twins to digitize performance-based contracts. Shows feasibility with full-stack implementation linking the Ethereum blockchain with the Siemens building twin platform. Analyzes transaction costs of the deployed performance-based smart contract to give insight to current cost viability. Reflects on next steps for these early state technologies and gives suggestions for future research.
Digital building twins and blockchain for performance-based (smart) contracts
Abstract Servitization business models can use performance-based contracts to consider overall life-cycle costs rather than just production costs. However, practical implementation of performance contracts has been limited due to challenges with performance evaluation, accountability, and financial concepts. As a solution, this paper proposes the connection of the digital building twin with blockchain-based smart contracts to execute performance-based digital payments. First, we conceptualize a technical architecture to connect blockchain to digital building twins. The digital building twin stores and evaluates performance data in real-time. The blockchain ensures transparency and trusted execution of automatic performance evaluation and rewards through smart contracts. Next, we demonstrate the feasibility of both the concept and technical architecture by integrating the Ethereum blockchain with digital building models and sensors via the Siemens building twin platform. The resulting prototype is the first full-stack implementation of a performance-based smart contract in the built environment.
Highlights Proposes the connection of blockchain smart contracts and digital building twins to digitize performance-based contracts. Shows feasibility with full-stack implementation linking the Ethereum blockchain with the Siemens building twin platform. Analyzes transaction costs of the deployed performance-based smart contract to give insight to current cost viability. Reflects on next steps for these early state technologies and gives suggestions for future research.
Digital building twins and blockchain for performance-based (smart) contracts
Hunhevicz, Jens J. (author) / Motie, Mahshid (author) / Hall, Daniel M. (author)
2021-09-28
Article (Journal)
Electronic Resource
English
Digital Twins and Blockchain Technologies for Building Lifecycle Management
| BASE | 2023
Digital Twins and Blockchain technologies for building lifecycle management
| Elsevier | 2023