Risk factors affecting blockchain-based smart contract use in architecture, engineering, and construction industry

Hande Alada�¹, �lkim G�ven²
¹Department of Civil Engineering, Yildiz Technical University, �stanbul, Türkiye
²Department of Architecture, Malatya Turgut �zal University, Malatya, Türkiye

Management of traditional construction contracts that is frequently preferred in the architecture, engineering, and construction (AEC) industries are affected by many factors due to the complexity and large number of contract documents. With the introduction of Web 3.0 technology, blockchain is considered as a suitable solution for solving many problems arising from traditional contracts and can be considered as an alternative method to traditional contracts in the AEC industry. Using cryptocurrencies, switching to blockchain-based contracts, and using smart contracts will be advantageous for AEC industry in many ways. However, in addition to these advantages, the existence of risk factors cannot be denied. With this background, this study aims to identify risk factors affecting blockchain-based smart contract use in AEC industry through a comprehensive literature review and to prioritize the identified risk factors using Analytic Hierarchy Process, respectively. The prominent risks were found to include implementation risks, followed by legal risks and contractual risks. The contributions of the study to the academic literature are the identification of the risks that may occur during the integration of blockchain-based contracts into the AEC industry and the diagnosis of any problems that may occur during the integration process. Professionals in the field of construction management can also benefit greatly from the findings of this study by analyzing those risks throughout their projects.

Keywords: Analytic hierarchy process, blockchain; construction contracts; construction industry; smart contracts

Mimarl�k, M�hendislik ve �n�aat (AEC) Sekt�r�nde Blok Zinciri Tabanl� Ak�ll� S�zle�me Kullan�m�n� Etkileyen Risk Fakt�rleri

Hande Alada�¹, �lkim G�ven²
¹Y�ld�z Teknik �niversitesi, �stanbul
²Malatya Turgut �zal �niversitesi, Malatya

Mimarl�k, m�hendislik ve in�aat sekt�r�nde s�kl�kla tercih edilen geleneksel in�aat s�zle�melerin y�netimi, s�zle�me belgelerinin karma��kl�� ve s�zle�me belgelerinin fazla say�da olu�u gibi bir�ok fakt�rden etkilenmektedir. Web 3.0 teknolojisinin geli�mesiyle birlikte ortaya ��kan blok zinciri kavram� ile geli�tirilen ak�ll� s�zle�meler ise geleneksel s�zle�melerden kaynaklanan bir�ok sorun i�in uygun ��z�mler sa�lamakta ve mimarl�k, m�hendislik ve in�aat end�strisinde geleneksel s�zle�melere alternatif bir y�ntem olarak de�erlendirilmektedir. Kripto para birimlerinin kullan�lmas�, blok zinciri tabanl� ak�ll� s�zle�melere ge�ilmesi ve bu s�zle�melerin kullan�lmas� yap�m end�strisi i�in bir�ok y�nden avantajl� olacakt�r. Ancak blok zinciri tabanl� ak�ll� s�zle�melerin bu avantajlar�n�n yan�nda sahip oldu�u risk fakt�rlerinin varl�� da ink�r edilemez. Bu bilgiler ��nda bu �al��ma, kapsaml� bir literat�r taramas� yoluyla yap�m end�strisinde blok zinciri tabanl� ak�ll� s�zle�me kullan�m�n� etkileyen risk fakt�rlerini belirlemeyi ve analitik hiyerar�i s�reci kullan�larak bu risk fakt�rlerini �nceliklendirmeyi ama�lamaktad�r. �al��ma bulgular�na g�re �ne ��kan riskler s�ras�yla; uygulama riskleri, yasal riskler ve s�zle�me riskleridir. �al��man�n akademik literat�re katk�s�, blok zinciri tabanl� ak�ll� s�zle�melerin yap�m end�strisine entegrasyonu s�ras�nda olu�abilecek risklerin belirlenmesi ile bu entegrasyon s�recinde olu�abilecek sorunlar�n te�his edilmesidir. �n�aat y�netimi alan�ndaki profesyoneller de projeleri boyunca bu riskler �zerinde �al��arak �al��man�n bulgular�ndan b�y�k �l��de faydalanabilirler.

Anahtar Kelimeler: Ak�ll� S�zle�meler, Analitik Hiyerar�i S�reci (AHP), Blok Zinciri, �n�aat Sekt�r�, �n�aat S�zle�meleri.

Hande Alada�, �lkim G�ven. Risk factors affecting blockchain-based smart contract use in architecture, engineering, and construction industry. Megaron. 2023; 18(2): 246-262

Corresponding Author: Hande Alada�, T�rkiye

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