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.