Invoice Smart Contracts for Design SMEs

Lee Michael Youngson, Theodoros Dounas
Robert Gordon University, United Kingdom

DOI: 10.35490/EC3.2021.173
Abstract: In recent years, Blockchain technology has evolved from its original application in cryptocurrency and can now be used for applications such as Smart Contracts. Smart Contracts automatically Execute transactions without the need for a central authority however there are very few use cases of the technology, particularly amongst UK AEC Design SMEs. This paper uses a hybrid method approach which combines questionnaires with semi-structured interviews to create a framework which showcases how a Smart Contract invoicing process could work for Design SMEs. This could create an automated invoicing process which is more efficient and reduces the risk of late payment.
Keywords: Payment Automation, Distributed Ledger Technology, Smart Contracts
Pages: 2 - 10

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