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What we are doing and why
There are many issues and inefficiencies in the construction industry that emerging technology may be able to address and resolve. Blockchain technology, such as smart contracts, is a promising approach to coding contractual duties, leveraging increased data, and allowing for quicker and more transparent payment systems.
The Building and Plumbing Commission (BPC) is supporting research by Queensland University of Technology, through the Building 4.0 Cooperative Research Centre (CRC), to determine the future of smart contracts and blockchain technology to address concerns about finance and supply chain transparency.
The research will involve a detailed exploration, through case studies, of the use of smart contracts to facilitate faster and more reliable payments and how a digital twin of the supply chain can allow for more transparent and trustworthy systems.
The research results are intended to respond to existing and emerging regulations, and provide a blueprint that can be used in a future research phase to build the proposed technological solution.
Queensland University of Technology’s Dr Lachlan Robb is leading the research.
The project is jointly funded by Building 4.0 CRC, the BPC and industry partners Holmesglen Institute, PT Blink Technology, and Master Builders Association of Victoria.
What we have achieved so far
This research project commenced in December 2024 and is due for completion in late-2025.