The Role of Blockchain in Modernizing FIDIC Contracts: Opportunities and Challenges
摘要
This article examines the role of blockchain technology in FIDIC contracts, highlighting the benefits for modernizing construction contract administration. Meanwhile, FIDIC contracts effectively increased in terms of mechanization and security by utilizing. Though, Smart contracts assist automation and decrease the risk of disagreements, enhancing protection between investors. In addition, Resistance from industrial point of view stakeholders due to concerns about cost and complexity poses a significant obstacle to Blockchain adoption in contract management. Continuous innovation initiatives, including the improvement and promotion of legal frameworks, are critical for the widespread adoption of Blockchain technology in the administration of FIDIC contracts.