Link Copied.
System and Method for Updating, Modifying and Managing Engineering and Construction Contracts in a Blockchain Network

中文版本

Opportunity  

The management of engineering and construction contracts is traditionally plagued by inefficiencies, lack of transparency, and vulnerability to disputes. Conventional contract management relies on centralized databases and paper-based or digital documents that are controlled by single entities, leading to information silos and potential conflicts over version control. Changes, approvals, and updates to contract terms often involve lengthy, manual processes with multiple intermediaries, resulting in delays, increased administrative costs, and a high risk of errors or unauthorized modifications. Furthermore, the lack of a single, immutable, and auditable record of all contract revisions and stakeholder interactions creates significant challenges in establishing accountability and resolving disagreements, which are common in complex, multi-party construction projects. This environment of mistrust and procedural opacity represents a major opportunity for a technological solution that can introduce integrity, automation, and shared truth into the contract lifecycle.

Technology  

This patent introduces an adaptive system and method for processing photoacoustic and ultrasound imaging data that automatically optimizes the speed of sound value(s) used in image reconstruction. The core innovation lies in leveraging the acquired ultrasound imaging data itself to determine the optimal reconstruction parameter. The technology encompasses two primary optimization strategies. The first involves a single, global speed of sound optimization. The system processes the same set of ultrasound channel data multiple times, each trial using a different candidate speed of sound value. For each trial, it calculates a coherence factor (CF) map, which measures signal phase coherence. The sum of coherence values across the map (total coherence factor) is computed. The candidate speed of sound that yields the maximum total coherence factor is identified as the optimal value, often refined via interpolation of the coherence factor curve. This optimized value is then applied in delay-and-sum beamforming algorithms to reconstruct both the ultrasound and the co-registered photoacoustic images. The second, more advanced strategy performs a two-compartment optimization. It first automatically segments the ultrasound data to identify a boundary, typically between the sample object (e.g., tissue) and the coupling medium (e.g., water). This segmentation uses algorithms like an improved Akaike information criterion picker on transmission channel data to detect first-arrival signal positions. Once segmented, it determines two optimal speed of sound values: one for the sample and one for the coupling medium. The value for the coupling medium can be derived from a temperature-based lookup table. The value for the sample is determined similarly to the first strategy but applied only to the data subset within the sample region, potentially using a multi-stencil fast marching method for time-of-flight calculation and a golden-section search for efficiency. Finally, image reconstruction proceeds using these two distinct speed of sound values in their respective regions, significantly reducing boundary artifacts and improving focus throughout the image.

Advantages  

  • Establishes an immutable, transparent, and auditable ledger of all contract versions and modifications.
  • Enhances trust among all project stakeholders through decentralized consensus on changes.
  • Significantly reduces administrative time and costs associated with manual contract update processes.
  • Minimizes disputes by providing a single source of truth for contract terms and revision history.
  • Improves security and reduces the risk of fraud or unauthorized tampering with contract documents.
  • Enables automation of contractual obligations and payments through integration with smart contracts.
  • Streamlines compliance and auditing processes due to the permanent and accessible record.

Applications  

  • Management of main construction contracts between project owners and general contractors.
  • Administration of subcontractor agreements and supply chain contracts within large-scale infrastructure projects.
  • Handling change orders, variation requests, and approval workflows in real-time.
  • Facilitating joint venture agreements in international engineering projects.
  • Providing verifiable contract history for legal, insurance, and financial auditing purposes.
  • Integration with project management and Building Information Modeling (BIM) platforms for linked data integrity.
  • Use in public infrastructure projects to increase governmental transparency and accountability.
Remarks
IDF:1021
IP Status
Patent filed
Technology Readiness Level (TRL)
4
Questions about this Technology?
Contact Our Tech Manager
Contact Our Tech Manager
System and Method for Updating, Modifying and Managing Engineering and Construction Contracts in a Blockchain Network

Personal Information

(ReCaptcha V3 Hidden Field)

We use cookies to ensure you get the best experience on our website.

More Information