Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype
Blockchain can be introduced to use cases in the built environment where reliability of transaction records is paramount. Blockchain facilitates decentralised, cryptographically secure, trustworthy, and immutable recordkeeping of transactions. However, more research is urgently required to understan...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2021-11-01
|
| Series: | Buildings |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2075-5309/11/11/560 |
| _version_ | 1797511009118715904 |
|---|---|
| author | Srinath Perera Amer A. Hijazi Geeganage Thilini Weerasuriya Samudaya Nanayakkara Muhandiramge Nimashi Navodana Rodrigo |
| author_facet | Srinath Perera Amer A. Hijazi Geeganage Thilini Weerasuriya Samudaya Nanayakkara Muhandiramge Nimashi Navodana Rodrigo |
| author_sort | Srinath Perera |
| collection | DOAJ |
| description | Blockchain can be introduced to use cases in the built environment where reliability of transaction records is paramount. Blockchain facilitates decentralised, cryptographically secure, trustworthy, and immutable recordkeeping of transactions. However, more research is urgently required to understand the process and complications in implementing blockchain solutions in the built environment. This paper demonstrates a methodology for developing a blockchain system starting from problem analysis, selection of blockchain platform, system modelling, prototype development, and evaluation. The evolutionary prototyping model was selected as the software development methodology for the use case of property transactions. A systematic process protocol involving the multi-criteria decision-making method, Simple Multi Attribute Rating Technique (SMART), was used to select Hyperledger Fabric as the most suitable blockchain platform for the prototype. The system architecture facilitates a simplified, lean property transaction process implemented through chaincode (smart contract) algorithms and graphical user interfaces. System evaluation through test cases allowed iterative improvements, leading to an incubation-ready software prototype. The contribution to knowledge of this paper is in the demonstration of the process to follow to implement a blockchain solution for a specific domain. The findings provide the foundation for developing proofs of concept for other potential applications of blockchain in the built environment. |
| first_indexed | 2024-03-10T05:39:21Z |
| format | Article |
| id | doaj.art-6eaa0d33e75e467b8f3bf9a4a709fae8 |
| institution | Directory Open Access Journal |
| issn | 2075-5309 |
| language | English |
| last_indexed | 2024-03-10T05:39:21Z |
| publishDate | 2021-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Buildings |
| spelling | doaj.art-6eaa0d33e75e467b8f3bf9a4a709fae82023-11-22T22:40:17ZengMDPI AGBuildings2075-53092021-11-01111156010.3390/buildings11110560Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready PrototypeSrinath Perera0Amer A. Hijazi1Geeganage Thilini Weerasuriya2Samudaya Nanayakkara3Muhandiramge Nimashi Navodana Rodrigo4Centre for Smart Modern Construction, Western Sydney University, Kingswood, NSW 2747, AustraliaCentre for Smart Modern Construction, Western Sydney University, Kingswood, NSW 2747, AustraliaCentre for Smart Modern Construction, Western Sydney University, Kingswood, NSW 2747, AustraliaCentre for Smart Modern Construction, Western Sydney University, Kingswood, NSW 2747, AustraliaCentre for Smart Modern Construction, Western Sydney University, Kingswood, NSW 2747, AustraliaBlockchain can be introduced to use cases in the built environment where reliability of transaction records is paramount. Blockchain facilitates decentralised, cryptographically secure, trustworthy, and immutable recordkeeping of transactions. However, more research is urgently required to understand the process and complications in implementing blockchain solutions in the built environment. This paper demonstrates a methodology for developing a blockchain system starting from problem analysis, selection of blockchain platform, system modelling, prototype development, and evaluation. The evolutionary prototyping model was selected as the software development methodology for the use case of property transactions. A systematic process protocol involving the multi-criteria decision-making method, Simple Multi Attribute Rating Technique (SMART), was used to select Hyperledger Fabric as the most suitable blockchain platform for the prototype. The system architecture facilitates a simplified, lean property transaction process implemented through chaincode (smart contract) algorithms and graphical user interfaces. System evaluation through test cases allowed iterative improvements, leading to an incubation-ready software prototype. The contribution to knowledge of this paper is in the demonstration of the process to follow to implement a blockchain solution for a specific domain. The findings provide the foundation for developing proofs of concept for other potential applications of blockchain in the built environment.https://www.mdpi.com/2075-5309/11/11/560blockchainbuilt environmenttrustproof of conceptproperty transactionsHyperledger Fabric |
| spellingShingle | Srinath Perera Amer A. Hijazi Geeganage Thilini Weerasuriya Samudaya Nanayakkara Muhandiramge Nimashi Navodana Rodrigo Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype Buildings blockchain built environment trust proof of concept property transactions Hyperledger Fabric |
| title | Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype |
| title_full | Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype |
| title_fullStr | Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype |
| title_full_unstemmed | Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype |
| title_short | Blockchain-Based Trusted Property Transactions in the Built Environment: Development of an Incubation-Ready Prototype |
| title_sort | blockchain based trusted property transactions in the built environment development of an incubation ready prototype |
| topic | blockchain built environment trust proof of concept property transactions Hyperledger Fabric |
| url | https://www.mdpi.com/2075-5309/11/11/560 |
| work_keys_str_mv | AT srinathperera blockchainbasedtrustedpropertytransactionsinthebuiltenvironmentdevelopmentofanincubationreadyprototype AT amerahijazi blockchainbasedtrustedpropertytransactionsinthebuiltenvironmentdevelopmentofanincubationreadyprototype AT geeganagethiliniweerasuriya blockchainbasedtrustedpropertytransactionsinthebuiltenvironmentdevelopmentofanincubationreadyprototype AT samudayananayakkara blockchainbasedtrustedpropertytransactionsinthebuiltenvironmentdevelopmentofanincubationreadyprototype AT muhandiramgenimashinavodanarodrigo blockchainbasedtrustedpropertytransactionsinthebuiltenvironmentdevelopmentofanincubationreadyprototype |