@misc { , title = {Smart contracts and payment in UK construction: the legal framework.}, abstract = {This chapter critically evaluates the way in which the existing United Kingdom (UK) construction payment regime will function with – and assist – payment mechanisms which utilise smart contracts. Blockchain is one of several new developments in the increasingly technologically-developing UK construction industry. Whilst the law translates real world actions into legal obligations to pay and then assists in turning those obligations into payment, the blockchain with smart contract will automate that process, providing security and removing any intermediation which could stop or slow the process down illegitimately. Coupled with the use of smart contracts, therefore, blockchain technology has the potential to facilitate a solution to the payment and cash flow issue in UK. To achieve the added functionality described and thereby make it a useful tool for payment in construction, however, the developments would need to coexist with the existing legal framework. There are important points in the detail of that which should be more fully understood by users of the blockchain/smart contract systems, and which are explored in this chapter.}, doi = {10.1007/978-981-19-3759-0\_9}, isbn = {9789811937583}, note = {INFO COMPLETE (Now published 27.09.2022 GB -- Still not released for pre-ordering on publishers website 15/8/2022 LM; parent work now listed on Springer website, but final details including ISBN and DOI still pending 12.05.2022 GB -- notified by contact, but requested more information on parent work from Theo Dounas 30.11.2021 GB) PERMISSION GRANTED (version = AAM ; embargo = 24 months ; licence = publisher's own ; https://www.springernature.com/gp/open-research/policies/book-policies ; 12.05.2022 GB -- requested information on publisher from Theo Dounas 30.11.2021 GB) DOCUMENT READY (rec'd AAM from contact and saved to network drive, but not yet added coversheet due to lack of parent work information 30.11.2021 GB) ADDITIONAL INFO: David Christie; Joseph Mante; Theo Dounas* Related Output ID for the book: 1664096 (cannot link due to Springer permissions) This accepted manuscript is distributed under the Springer AM Terms of Use: https://www.springernature.com/gp/open-research/policies/accepted-manuscript-terms.}, pages = {167-184}, publicationstatus = {Published}, publisher = {Springer}, url = {https://rgu-repository.worktribe.com/output/1538097}, keyword = {Blockchain, Smart contracts, Construction payments, Construction law, Housing Grants Construction and Regeneration Act, Oracle problem}, year = {2022}, author = {Christie, David S. and Mante, Joseph} editor = {Dounas, Theodoros and Lombardi, Davide} }