FIG Peer Review Journal

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Exploring how smart contracts will impact on the role of construction professionals (9201)

Jim Mason (United Kingdom)
Dr Jim Mason
Senior Lecturer
UWE Bristol
Room 3Q52, Frenchay Campus
Coldharbour Road
Bristol
BS161QY
United Kingdom
 
Corresponding author Dr Jim Mason (email: jim.mason[at]uwe.ac.uk, tel.: 07901716679)
 

[ abstract ] [ paper ] [ handouts ]

Published on the web n/a
Received 2017-10-08 / Accepted n/a
This paper is one of selection of papers published for the FIG Congress 2018 in Istanbul, Turkey and has undergone the FIG Peer Review Process.

FIG Congress 2018
ISBN n/a ISSN 2308-3441
URL n/a

Abstract

An intelligent contract (IC) is a self-executing contract containing electronically drafted provisions which has the ability to automate a variety of processes in accordance with the terms of the contract. The attitude of important stakeholders and opinion formers towards these developments play a vital role in dictating the adoption of new technologies. The construction industry has moved into a period of accelerated technological change with a startling rate of progress. Advances such as Building Information Modelling, robotics and the internet of things all indicate that the legal arrangements underpinning project delivery need updating. Many of the construction contracts in current use were written for the Victorian age and are in need of an overhaul. ICs appear to be the way forward but the wider issue is whether stakeholders are comfortable with their adoption in terms of the cost, reliability and the legal liabilities created. This research seeks to define the issues arising and draw together the disparate threads encountered.
 
Keywords: Education; Quantity surveying; Legislation

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