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Area of Science:

  • Construction Management
  • Blockchain Technology
  • Financial Technology

Background:

  • Poor payment practices present a significant challenge in the construction industry, impacting project cash flow.
  • Current payment systems are often manual and reliant on third parties, leading to delays and disputes.
  • Contract fulfillment directly influences project financial stability.

Purpose of the Study:

  • To propose a framework for automated payment systems in construction projects.
  • To develop smart construction contracts utilizing blockchain technology.
  • To enhance project cash flow management and reduce payment-related issues.

Main Methods:

  • Implementation of a blockchain framework for automated payment issuance.
  • Utilization of cryptocurrency for seamless transaction execution without intermediaries.
  • Integration of 5D Building Information Modeling (BIM) with software like Autodesk Revit, Navisworks, and Primavera P6 for progress visualization and payment status tracking.
  • Validation through a case study of a construction project in Cairo, Egypt.

Main Results:

  • Demonstrated secure project cash flow through automated payment processes.
  • Achieved instant payment issuance upon fulfillment of contract conditions.
  • Established immutable electronic payment records on the blockchain.
  • Successfully visualized project progress and payment status using 5D BIM.

Conclusions:

  • The proposed framework effectively addresses poor payment practices in construction.
  • Blockchain and cryptocurrency integration enables efficient and transparent smart contracts.
  • 5D BIM enhances project monitoring and financial control, securing project cash flow.