A Review on Usage Areas of Blockchain Technology in Architecture

Abstract

The development process of technology has made it possible to propose remarkable disciplines and systems that were impossible to consider a short while ago. Blockchain technology, as one of these technologies, is one of the most prominent and revolutionary technologies since the beginning of the internet to the present day. Speeding up transaction times, reducing costs, and being transparent and reliable signify the principal reasons for the transition from traditional systems to the blockchain system. Acknowledging the impact that these technologies have on various sectors, it is comprehended that blockchain technology can be used beneficially in several independent areas. So much that blockchain technology is increasing day by day, particularly in academics and the business world. Blockchain technology is presumed to influence several areas in the near future. Accordingly, this study's primary purpose is to reveal the use of blockchain technology in the field of architecture. The study was created with the fundamental idea of researching technology and understanding how it works, by being convicted that blockchain technology can solve various problems and deficiencies in architecture. This study presents an overview of the potential implementations and uses of blockchain technology in architecture. This situation has shown that we need to differentiate and evaluate differently for the business models we currently use in architecture. time throughout the project and construction. Recent developments in blockchain technology and smart contracts can provide a secure platform for timely and guaranteed payments on architectural projects. Smart contract-based payment systems hold significant potential for both payment problems and trust between parties. This study recommends to design and develop smart contract-based systems for a timely and guaranteed payment of architectural projects. Smart contracts should be developed for a guaranteed payment of project cost and progress payments. In this way, it can be intended to accelerate the current project price and progress payment system and to reduce the disputes that may arise due to the payment. Blockchain technology can be a solution to one of the most significant architectural sector problems at this point.