Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype
Author(s): |
Srinath Perera
Amer A. Hijazi Geeganage Thilini Weerasuriya Samudaya Nanayakkara Muhandiramge Nimashi Navodana Rodrigo |
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Medium: | journal article |
Language(s): | English |
Published in: | Buildings, 8 November 2021, n. 11, v. 11 |
Page(s): | 560 |
DOI: | 10.3390/buildings11110560 |
Abstract: |
Blockchain can be introduced to use cases in the built environment where reliability of transaction records is paramount. Blockchain facilitates decentralised, cryptographically secure, trustworthy, and immutable recordkeeping of transactions. However, more research is urgently required to understand the process and complications in implementing blockchain solutions in the built environment. This paper demonstrates a methodology for developing a blockchain system starting from problem analysis, selection of blockchain platform, system modelling, prototype development, and evaluation. The evolutionary prototyping model was selected as the software development methodology for the use case of property transactions. A systematic process protocol involving the multi-criteria decision-making method, Simple Multi Attribute Rating Technique (SMART), was used to select Hyperledger Fabric as the most suitable blockchain platform for the prototype. The system architecture facilitates a simplified, lean property transaction process implemented through chaincode (smart contract) algorithms and graphical user interfaces. System evaluation through test cases allowed iterative improvements, leading to an incubation-ready software prototype. The contribution to knowledge of this paper is in the demonstration of the process to follow to implement a blockchain solution for a specific domain. The findings provide the foundation for developing proofs of concept for other potential applications of blockchain in the built environment. |
Copyright: | © 2021 by the authors; licensee MDPI, Basel, Switzerland. |
License: | This creative work has been published under the Creative Commons Attribution 4.0 International (CC-BY 4.0) license which allows copying, and redistribution as well as adaptation of the original work provided appropriate credit is given to the original author and the conditions of the license are met. |
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10639383 - Published on:
30/11/2021 - Last updated on:
02/12/2021