Track: Project Management
Delays or failures from service users in making payments will greatly affect service providers. Frequently, this incident causes many construction service business entities to go bankrupt due to financial disruption to the business entity. A contractual agreement between the parties regulates the payment system between service users and providers. However, the contract does not reduce the risk of delay or failure of payment. Problems often occur due to the lack of competence in human resources at the management level. Management who should play an important role in the project often fails to carry out their duties. The next problem arises from service users who do not want to pay service providers after the work is completed. Therefore, this research tries to find a solution by improving the payment system with an automated and transparent procedure so that all parties can monitor the process. This system will be built using a smart contract built on the blockchain’s (Ethereum) platform and integrated with BIM (Building Information Modeling) data models and CDE (Common Data Environment) with its review and approval system. With this automation system, the payment duration can be accelerated to maintain the financial capabilities of all stakeholders.
Smart Contract, BIM, Blockchain, Ethereum, Project Management.