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International Journal for Research Trends and Innovation
International Peer Reviewed & Refereed Journals, Open Access Journal
ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14
Issue per Year : 12
Volume Published : 11
Issue Published : 120
Article Submitted : 24187
Article Published : 9239
Total Authors : 24597
Total Reviewer : 847
Total Countries : 165
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| Paper Title: | Enhancing Construction Contract Billing Through Blockchain Technology |
| Authors Name: | Mr. Yogesh Dilip Mulik , Dr. Sumedh Y. Mhaske |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_187644
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| Published Paper Id: | IJRTI2307093 |
| Published In: | Volume 8 Issue 7, July-2023 |
| DOI: | |
| Abstract: | Construction projects are typically lengthy endeavors that involve significant financial transactions. Unfortunately, delays and financial difficulties often result in project setbacks and increased costs. The billing process plays a crucial role in managing the project's finances. However, traditional billing methods are time-consuming, taking nearly a month to release payments to contractors due to the need for document approval, certificate verification, and bill verification. This slow process can be quite cumbersome. To address these challenges, this paper proposes the use of blockchain technology to streamline the billing process. By implementing blockchain and utilizing the Python language, we can ensure the security of all transactions while significantly accelerating the billing process through online platforms. Additionally, this study aims to develop a storage model for maintaining payment records for future reference. To gain insights into the traditional billing process, we conducted on-site visits to three local construction sites. Based on our observations, we have created a model that allows users to view and upload necessary documents. Based on our findings, implementing blockchain technology in billing processes can lead to a significant time-saving of around 50% when compared to traditional methods. This research provides readers with a comprehensive insights into the various applications of blockchain technology in the construction industry. This study serves as a valuable resource for those interested in exploring secure billing platforms and the potential benefits they can bring to construction projects. |
| Keywords: | Construction; Blockchain; Billing; financial transaction. |
| Cite Article: | "Enhancing Construction Contract Billing Through Blockchain Technology", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2456-3315, Vol.8, Issue 7, page no.615 - 619, July-2023, Available :http://www.ijrti.org/papers/IJRTI2307093.pdf |
| Downloads: | 000205492 |
| ISSN: |
2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID: IJRTI2307093
Registration ID:187644
Published In: Volume 8 Issue 7, July-2023
DOI (Digital Object Identifier):
Page No: 615 - 619 Country: Mumbai , Maharashtra, India Research Area: Civil Engineering Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2307093 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2307093 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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