Automated Project Bank Accounts (PBAs)
Sector: Secondary sector · Industry: Construction · Organisation: Anonymisiert (Pilotpartner: Großbanken) · Maturity level: Concept
Blockchain-based project bank accounts aim to automate payments to subcontractors through smart contracts triggered upon milestone completion. The use case targets the common problem of payment delays in the construction industry through transparent, immutable contract execution. The concept is in an early development stage without verified implementations.
Documentation status
- Project status: Concept
- Evidence: Evidence medium
- Editorial review: Ufuk Avci, 15 April 2026
Description
In construction, engineers, construction companies, craftsmen, subcontractors, surveyors, project managers and lawyers regularly work together on a contract. If there is a delay anywhere in the process, the entire payment chain stalls — with a particularly high risk of insolvency for SMEs. The BMWi-funded project BIMcontracts solves this with if-then logic: service provided → confirmed → payment automatically triggered. All transactions are stored on the blockchain; a subsequent transaction is only possible if all previous ones have been correctly confirmed.
BIMcontracts is a joint project between industry and research, funded by the Federal Ministry for Economic Affairs with 2.46 million euros. The consortium leader is the IT service provider adesso; other partners are Ruhr University Bochum (602,000 euros, Chair of Computer Science in Construction), University of Duisburg-Essen (610,000 euros, Paluno Institute), TU Berlin, Freundlieb Construction Company, proXperts and Kapellmann Lawyers. Technically: BIM models provide the service description; Smart Contracts translate contractual agreements into automated if-then relationships. On site, subcontractors confirm services rendered via a mobile app; inspectors mark the order as completed or report defects. Upon acceptance, the invoice is automatically issued and payment immediately instructed. The blockchain principle ensures: a subsequent transaction is only possible if all previous transactions have been confirmed. dormakaba and BauInfoConsult confirm the market potential: according to BauInfoConsult, one in five construction manufacturers is open to blockchain applications in the construction industry.
Perspectives
B2B — organisations perspective
General contractors agree one-off Smart Contracts with subcontractors. Payments are made automatically upon verified partial services — without manual invoicing and without payment delays. Smaller subcontractors no longer need liquidity cushions, which they often do not have.
B2C — consumers perspective
End customers would mainly benefit indirectly through potentially more stable project workflows and more transparent cost structures. Direct impacts on consumers are minimal.
Employees perspective
Site managers and inspectors carry out service acceptances via a mobile app directly on site. The system automatically notifies the billing department; the administrative effort for manual service reports, inspection processes and invoicing is eliminated.
Benefits
General
- Automation of payment processes could reduce manual interventions and processing times.
- Transparent and immutable transaction history would strengthen trust between project participants.
- Theoretical reduction of payment conflicts through programmed contract execution.
B2B — organisations
- Reduced transaction costs and shortened payment cycles would improve the liquidity of all companies involved.
Employees
- Automated processes could reduce routine tasks in payment processing and free up employees for more strategic activities.
Challenges
General
- Regulatory hurdles require comprehensive cooperation with financial supervisory authorities and banks.
- High technical complexity in integrating with existing bank APIs and ERP systems.
B2B — organisations
- Resistance from traditional accounting departments against automated systems could delay adoption.
Employees
- Employees need to develop new skills in handling blockchain technology and adapt to changed workflows.
Technology foundation
The solution is based on public blockchain networks such as Ethereum with Smart Contracts that can automatically release payments. This technology is theoretically suitable for transparent and immutable transactions between multiple parties.
Tags
Smart Contracts, Payment automation, Construction industry, Fintech, Transparency