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2 Romanian Constr. L. Rev. 5 (2017)

handle is hein.journals/rncnlwre2 and id is 1 raw text is: THE BENEFITS OF INTEGRATING SMART CONTRACTS AND BIM DURING CONSTRUCTION Helder CARDEIRA Society of Construction Law, Sydney, Australia Abstract The benefits of BIM to the construction industry have been object to extensive research, but scarcely ever about the benefits of integrating BIM with Smart Contract, hence this discussion paper. Due to the lack of literature on the topic the purpose of this paper is to mainly highlight the possible benefits of integrating BIM with Smart Contracts and make recommendations for further research. Keywords: Building Information Modelling, Smart Contract, Construction, JEL Codes: K12, K22, K24 BACKGROUD Projects to the built and natural environment are often documented through sets of 2 Dimensional (2D) drawings, such as plans and elevations, drafted with the assistance of Computer Aided Design, also known as CAD. During the design stages of a project sometimes the design is not well coordinated between consultants resulting in sets of drawings with conflicting information. With the advent of Building Information Modelling (BIM) computer prowess and faster internet connections, the construction industry is now able to work off the same model in order to produce drawings free of human errors. According to a new survey by Timetric's Construction Intelligence Center (2016), momentum is growing behind the implementation of BIM across the construction industry, with the highest percentage of respondents claiming that it will be the future of the industry. However, in Australia, the implementation of BIM has been slow. In 2016, the New South Wales (NSW) chapter of Consult Australia created a Task Group to assist the NSW government and the industry to collectively create and implement a common vision for BIM. If BIM will ever become the standard form to design and document a construction project is still hard to say, nevertheless, it can be argued that BIM is here to stay. The benefits of BIM have been fully researched and documented 1 (however, research regarding the benefits of integrating BIM with Smart Contract is scarce, al- most inexistent, hence this discussion paper. The purpose of this discussion paper is to highlight the benefits of integrating BIM with Smart Contracts. Due to the little information available on this topic this paper also proposes recommendations for further research. INTEGRATING BIM WITH SMART CONTRACTS Smart Contracts are self-executable, self-enforceable computer protocols that can retrieve in- formation from a database in order to automate contractual agreements. Smart Contracts can also 1 Azhar, S (2011) Building Information Modeling (BIM): Trends, Benefits, Risks, and Challenges for the AEC Industry Res- ton: American Society of Civil Engineers ROMANIAN CONSTRUCTION LAW REVIEW NUMBER 2, YEAR 2017

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