Abstract

In recent years, several construction-related services incorporating Blockchain-enabled smart contracts have emerged. Blockchain-enabled smart contracts have the potential to modify the structure of all accessible networks in the near future. The purpose of this study is to explore individuals understanding of smart contracts in Saudi Arabia, identify potential advantages, and assess actors' readiness to implement smart contracts technology in ready-mixed concrete (RMC) plants. Data was acquired by questionnaires distributed to employees from Saudi Arabia's RMC plants companies. Additionally, confirmatory interviews were conducted out to areas of expertise. The study's findings revealed a low level of smart contract knowledge within Saudi Arabia’s RMC plants sector. The readiness to implement smart contracts is extremely low. According to the findings, smart contracts can improve supply chain management and supply chain finance efficiency, but not in the current circumstances in Saudi Arabia owing to insufficient digitization.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.