Toward smart contract adoption in Vietnam’s construction sector: challenges and a conceptual implementation framework

Abstract

The construction sector is increasingly exploring smart contracts (SCs) to resolve persistent operational challenges, such as payment delays and disputes. This study systematically analyzes SC and Distributed Ledger Technology (DLT) deployments globally and in Vietnam, identifying key legal, technical, and organizational constraints hindering domestic adoption. To bridge these gaps, a five-step implementation framework tailored to Vietnam's institutional and market conditions is proposed. The framework emphasizes incremental adaptation using regulatory sandboxes, a hybrid architecture integrated with Building Information Modeling (BIM), and fiat-based payment mechanisms. The findings highlight that successful adoption depends primarily on institutional readiness and regulatory alignment rather than the technology itself, advocating a phased approach aligned with local industry capabilities.