Late payment,and indeed no payment,is a rampant and chronic problem that has plagued the global construction industry for too long.Recent development in blockchain technology,particularly its smart contract,seems to provide a new opportunity to improve this old problem.However,this opportunity is largely unexploited.This study aims to develop a blockchain-based smart contract(BBSC)system for smart payment in the construction industry by focusing on the fundamental cycle of payment freezing(sometimes also synonymously called payment guarantees)and disbursement application.Firstly,a BBSC framework,containing three processes of(a)initiation and configuration,(b)payment freezing,and(c)disbursement application,is developed.Next,based on the framework,the system architecture of the BBSC system,containing three layers of(1)Infrastructure as a Service(IaaS),(2)Blockchain as a Service(BaaS),and(3)Software as a Service(SaaS)is proposed and elabora-ted.Finally,based on the system architecture,a BBSC prototype system is developed using a real-life modular construction project as a case study.It was found that the prototype system can improve the certainty and efficiency of the progress payment,thereby enabling smart payment in construction transactions.Without advocating radical changes(e.g.,the contractual relationships or the inter-mediate role of banks in modem construction projects),the prototype can be developed into a real-life BBSC system that can work compatibly with current advancements in the field.Future works are recommended to fine-tune the

Liupengfei WU;Weisheng LU;Jinying XU

Department of Real Estate and Construction,University of Hong Kong,Hong Kong,China

工程管理前沿（英文版）

[1]Liupengfei WU;Weisheng LU;Jinying XU-.Blockchain-based smart contract for smart payment in construction:A focus on the payment freezing and disbursement cycle)[J].工程管理前沿（英文版）,2022(02):177-195

disbursement,unexploited,BBSC,elabora,compatibly

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