Integrating Blockchain Smart Contracts into Project Management: A Qualitative Study on Financial Security and Regulatory Frameworks

Abstract

This research paper examines the role of blockchain tech in various aspects and areas of smart contracts in finance and project management. Specifically, it analyses and understands how, in the UAE, blockchain can be used in those areas of finance, IT, and construction across various companies to boost their efficiency and benefit from the positives of the technology.

Through a qualitative study design wherein semi-structured interviews were included with various experts who hailed from different areas such as blockchain law, financial blockchain analysts, project managers, etc., with 15 interviewees, the study collects research data which is the manually analyzed using thematic analysis.

Findings highlight that the need for clear legal and regulatory frameworks, pilot implementations of blockchain technology, and higher levels of cohesive training between the companies and their employees may all help reduce the implementation challenges of blockchain in the UAE.

This study contributes to the steadily growing body of academic research that focuses on blockchain relevant topics including its proliferation and integration in the UAE’s industries and offers valuable insights regarding the same.