Emerging legal issues in blockchain for construction supply chains
Ma, Alan (2020) Emerging legal issues in blockchain for construction supply chains. In: ICVISP 2020: Proceedings of the 2020 4th International Conference on Vision, Image and Signal Processing, December 2020, Bangkok, Thailand.
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Abstract
A complex web of supply chains is a common feature of construction projects. With the different types of parties involved in a project and the amount of paperwork generated, the supply chain process can be time-consuming, an easy target for fraud and is prone to human errors.
Blockchain is an emerging technology that can transform, simplify and make a network of information more secure. In the context of the supply chain, digitalised documents and real-time information can lead to cost-savings in any operation. Its embedded feature of transparency and integrity proves itself to be reliable. In addition, there are two less widely considered advantages that are particularly suitable for applying in the administration and management of the complex web of supply chains in the construction industry. The two additional advantages are dispute avoidance and dispute resolution, which will be discussed in this paper.
The use of blockchain in supply chains carries legal issues. This could be a contributing factor to its slower rate of adoption than widely anticipated after the rapid emergence of its first application in the financial system of cryptocurrency, commonly known as Bitcoin. This paper identifies and proposes solutions to three key legal issues arising from the use of blockchain technology in supply chains. They are (a) restricted use of smart contracts to prescribed outcomes only; (b) concerns relating to access and ownership of using a shared blockchain platform; and (c) multi-jurisdiction concerns over where governing laws apply.
| Item Type: | Conference or Workshop Item (Paper) | ||||||
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| Identification Number: | https://doi.org/10.1145/3448823.3448880 | ||||||
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| Uncontrolled Keywords: | Blockchain, construction supply chain, smart contract, digitalplatform, multi-jurisdiction | ||||||
| Subjects: | CAH11 - computing > CAH11-01 - computing > CAH11-01-05 - artificial intelligence CAH10 - engineering and technology > CAH10-01 - engineering > CAH10-01-07 - civil engineering CAH16 - law > CAH16-01 - law > CAH16-01-01 - law |
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| Divisions: | Faculty of Business, Law and Social Sciences > School of Law | ||||||
| Depositing User: | Siuyungalan Ma | ||||||
| Date Deposited: | 25 Sep 2020 08:50 | ||||||
| Last Modified: | 03 Mar 2022 15:54 | ||||||
| URI: | https://www.open-access.bcu.ac.uk/id/eprint/9942 |
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