| Title |
A Study on a Blockchain-Based Token Liquidity Mechanism for Value Circulation in Public Infrastructure Maintenance |
| Authors |
Sang-Hun Jung; Min-Jea Lee |
| DOI |
https://dx.doi.org/10.6106/KJCEM.2026.27.4.062 |
| Keywords |
Blockchain; Token Liquidity; Public Infrastructure Maintenance; Risk-Based Asset Management; Value Circulation |
| Abstract |
Public infrastructure maintenance is characterized by long asset life cycles, budget uncertainty, and limited linkage between maintenance performance and reinvestment decisions. Conventional budget-driven frameworks often show weak connections between maintenance outcomes and future resource allocation, leading to limitations in long-term sustainability and public trust formation. This study proposes a blockchain-based token liquidity mechanism as a conceptual model to support value circulation in public infrastructure maintenance. The proposed model integrates a blockchain-based record structure, a token-based liquidity pool, and a reinvestment decision index combining maintenance performance and participation factors. In addition, a risk-based execution rule and a gradual quality update mechanism are incorporated to reflect the inherent characteristics of public infrastructure assets. A long-term simulation analysis shows that infrastructure quality improves gradually rather than abruptly, while token value and reinvestment capacity increase cumulatively over time. The liquidity pool functions as a stabilizing mechanism by mediating inflows and maintenance expenditures. These findings suggest that blockchain-based token liquidity mechanisms are not intended to replace conventional public financial operations, but rather can serve as a complementary governance framework that supports long-term stability and value circulation in public infrastructure maintenance. This study contributes to expanding theoretical discussions on digital assetbased public infrastructure management and provides a foundational basis for future policy and empirical research. |