Construction contract payment method based on block chain technology

Abstract

The invention discloses a construction contract payment method based on the block chain technology, which is used in the field of construction project management. The construction contract payment method includes: establishing a block chain network consisting of general contractors, designers, project management companies, supervisors, owners, banks or other financiers, government regulators, arbitration institutions, and third-party service agencies; and using a block chain platform to exchange information with the arbitration institutions, the government regulators, the banks or other financing platforms, the owners, and the general contractors, and monitoring project contract payment smart contracts and arbitration process information, establishing contacts with the supervisors, the project management companies, and BIMs, exchanging information, and confirming the quality of project progress. It is able to establish reliable trust of point-to-point in the network, so that the interference of the intermediary is removed in a value transfer process, information is disclosed, and privacy is protected; and both decision-making and protection of individual rights are achieved. The method effectively solves the problem of construction arrears in the construction industry and reduces the financing costs of construction enterprises.

Description

technical field [0001] The invention belongs to the field of construction project management, and in particular relates to a construction contract payment method based on block chain technology. Background technique [0002] The construction industry is a pillar industry of the national economy. In 2017, the added value of the construction industry of the whole society was 5,568.9 billion yuan, accounting for 6.7% of the national GDP. An increase of 4.3% over the previous year. Nationally qualified general contracting and professional contracting construction enterprises realized profits of 766.1 billion yuan, an increase of 9.7%. For a long time, with the rapid development of the construction industry, the arrears of project payments have also intensified in the construction industry. At present, there are generally two methods of payment in the construction industry, according to milestones or actual progress. Both methods need to find a credible third party to endorse ...

AI Technical Summary

Problems solved by technology

However, in actual operation, since the contract of the third-party company is signed with the owner, there is also a relationship with the owner to some extent, and it is often biased towards the owner.

In this way, the progress and quality report will often lag behind the actual construction situation, which will become one of the main reasons why the owner defaults on the project payment

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