a few participants but all the participants need not be aware of it. Using a traditional blockchain requires all the participants in a network to validate these transactions before they are approved and added into a block. There is a possibility to use a permissioned blockchain, like the Hyperledger blockchain, but making separate channels for industries with such complex supply chains makes it difficult for the participants to keep track. Thus, using Corda in this scenario is the best solution as these transactions appear only on the ledgers of the concerned participants and they can be verified at any point in time, in the future. It is to be noted that though Corda is not like other blockchains, it provides similar features like decentralization, immutability, trust, security, transparency, auditable, etc.
Although our solution is designed to focus on three participants (the client, the main contractor, and the subcontractor) in particular, it helps overcome the problem faced with the lack of visibility around various processes. It also helps in overthrowing the lack of trust by introducing shared consensus. The introduction of digital technologies helps in saving a lot of space and time that is used in the process of intensive documentation i.e. there is no need to document details of every task as they are automatically stored in the digital databases. Lastly, this solution helps the client by keeping him/her in the loop wherever the money is spent. In this way, the client can be assured that his/her money is not being wasted and is used appropriately.
References
1. Daoud, O. and Hamdani, S., Human Mistakes in Construction—Case Study in the Gulf Region. Int. J. Forensic Eng., 1, 175, 1988.
2. Underwood, S., Blockchain beyond bitcoin. Commun. ACM, 59, 11, 15–17, 2016. https://doi.org/10.1145/2994581.
3. Eadie, R., Browne, M., Odeyinka, H., McKeown, C., McNiff, S., BIM implementation throughout the UK construction project lifecycle: An analysis Autom. Constr., 36, 145–151, 2013.
4. Shourangiz, E., Mohamad, M.I., Hassanabadi, M.S., Banihashemi, S., Bakhtiari, M., Torabi, M., Flexibility of BIM towards design change. Int. Proc. Econ. Dev. Res., 15, 2, 79–83, 2011.
5. Zhong, B., Wu, H., Li, H., Sepasgozar, S., Luo, H., He, L., A scientometric analysis and critical review of construction related ontology research. Automat. Constr., 101, 17–31, 2019.
6. Brettel, M., Friederichsen, N., Keller, M., Rosenberg, M., How virtualization, decentralization and network building change the manufacturing landscape: An industry 4.0 perspective. Int. J. Mech. Ind. Sci. Eng., 8, 1, 37–44, 2014.
7. Agarwal, R., Chandrasekaran, S., Sridhar, M., McKinsey Global Institute, China, 2016.
8. Mohanty, D., Corda Architecture, in: R3 Corda for Architects and Developers, pp. 49–60, Apress, Berkeley, CA, 2019.
9. Sankar, L.S., Sindhu, M., Sethumadhavan, M., Survey of consensus protocols on blockchain applications. 2017 4th International Conference on Advanced Computing and Communication Systems (ICACCS), vol. 1–5, 2017.
10. Swan, M., Blockchain: Blueprint for a New Economy, O’Reilly Media Inc, United States of America, 2015.
11. Brown, R.G., The Corda Platform: An Introduction, Retrieved, vol. 27, Semantic Scholar, p. 2018, UK, 2018.
12. Cryptographic Material Policy, Corda Network Foundation, UK, 2018, [online] Available: https://corda.network/policy/cryptographic-material.html.
13. Mohanty, D., The Latest from Corda: Cordite Corda Enterprise and Settler, in: R3 Corda for Architects and Developers, pp. 199–205, Apress, Berkeley, CA, 2019.
14. Meier, A., Blockchain. HMD., 55, 1133–1134, 2018. https://doi.org/10.1365/s40702-018-00467-5.
15. Androulaki, E. et al., Hyperledger fabric. Proceedings of the Thirteenth EuroSys Conference on—EuroSys ‘18, pp. 1–15, 2018.
16. Morgan, J., Quorum Whitechapter, JP Morgan Chase, New York, 2016.
17. Buterin, V., Ethereum (Technical white chapter), GitHub Repository, 2013, Available: https://github.com/ethereum/wiki/wiki/White-Chapter.
18. Nakamoto, S., Bitcoin: A peer-to-peer electronic cash system October 2008, cited. 53, 2019.
19. Chitti, P. and Chitchyan, R., Keeping data inter-related in a Blockchain, in: Lecture Notes in Business Information Processing, vol. 350, pp. 48–59, 2019.
20. Khan, C., Lewis, A., Rutland, E., Wan, C., Rutter, K., Thompson, C., A Distributed-Ledger Consortium Model for Collaborative Innovation. Comput. (Long. Beach. Calif.), 50, 9, 29–37, 2017.
21. Kalid, N., Zaidan, A.A., Zaidan, B.B., Salman, O.H., Hashim, M., Muzammil, H., Based Real Time Remote Health Monitoring Systems: A Review on Patients Prioritization and Related “Big Data” Using Body Sensors information and Communication Technology. J. Med. Syst., 42, 2, 30, Feb. 2018.
22. Atzei, N., Bartoletti, M., Cimoli, T., A Survey of Attacks on Ethereum Smart Contracts (SoK), pp. 164–186, Springer, Berlin, Heidelberg, 2017.
23. Croman, K., Decker, C., Eyal, I., Gencer, A.E., Juels, A., Kosba, A., Miller, A., Saxena, P., Shi, E., Gun Sirer, E., Song, D., Wattenhofer, R., On scaling decentralized blockchains, Financial Cryptography and Data Security -International Workshops, FC 2016, BITCOIN, VOTING, and WAHC, 9604 LNCS, 106–125, 2016.
24. Aitzhan, N.Z. and Svetinovic, D., Security and privacy in decentralized energy trading through multi-signatures, blockchain, and anonymous messaging streams. IEEE Trans. Depend. Sec. Comput., 15, 5, 840–852, Sep./Oct. 2018.
25. Viriyasitavat, W. and Hoonsopon, D., Blockchain characteristics and consensus in modern business processes. J. Ind. Inf. Integrat., 13, 32–39, 2019.
26. Brown, R.G., Introducing R3 Corda, in: A distributed ledger designed for financial services, 2016, https://gendal.me/2016/04/05/introducing-r3-cordaadistributed-ledger-designed-for-financial-services/ (accessed 2 October, 2018).
27. BlockchainHub, Blockchains & distributed ledger technologies, Blockchain hub, Japan, 2018.
28. Abeyratne, S.A. and Monfared, R.P., Blockchain ready manufacturing supply chain using distributed ledger. Int. J. Res. Eng. Technol., 5, 9, 1–10, 2016.
29. Szabo, N., Smart contracts: formalizing and securing relationships on public networks. First Monday, 2, 9, 1–9, 1997.
30. Alharby, M. and Moorsel, A.V., Blockchain based smart contracts: A systematic mapping study. Presented at Comput. Sci. & Inf. Technol. (CS & IT), 1, 1–6, 2017.
31. Zheng, Xie, S., Dai, H.N., Chen, X., Wang, H, Blockchain challenges and opportunities: A survey, International Journal of Web and Grid Services, 14, 4, 352.
32. Athena, and Sumathy, V., Survey on public key cryptography
