Real Estate Reinvented: Exploring the Potential of Blockchain Technology in Property Management
Author(s):
Niraj Bharambe, Patil Chaitali R., Anvay Gaydhani, Abhishek Jadhav
Keywords:
Blockchain Technology, Real-Estate, centralized System, IPFS.
Abstract
The current real estate management process is inefficient and this project aims to develop a centralized system that can expedite the land registration procedure while enhancing its effectiveness using blockchain technology. By leveraging the benefits of blockchain, this project can offer a practical solution to the real estate management problem by providing a tamper-proof and transparent ledger that can enhance the accuracy of property ownership records, reducing the risk of fraud. The proposed system can also help streamline the registration process, reduce bureaucracy and time-consuming procedures while creating a more comprehensive and reliable source of information for all stakeholders. File System (IPFS), a decentralised database. The IPFS network generates the hash of the document. This hash is securely stored in the Ethereum blockchain after the conditions of the smart contracts are met. Overall, the implementation of a blockchain-based real estate management system can help overcome inefficiencies in the current real estate management process, creating a more transparent and reliable system.
Article Details
Unique Paper ID: 159273

Publication Volume & Issue: Volume 9, Issue 11

Page(s): 733 - 740
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