A SECURE AND TRANSPARENT APPROACH FOR REAL ESTATE TRANSACTIONS USING BLOCKCHAIN TECHNOLOGY
Author(s):
Vidya Rajasekaran, Arul Natarajan, Yashaswini, Boddu Prasanna Kumar, J.Ramesh Babu, Amjan Sheik
Keywords:
Cryptocurrency, Decentralized, Smart Contracts, Unique digital identity
Abstract
A Secure and Transparent Approach for Real Estate Transactions Using blockchain technology is a system that leverages blockchain technology to address issues in the traditional real estate industry such as fraud, lack of transparency, and inefficiency. This system provides a secure and transparent platform that enables buyers and sellers to directly interact and transact with each other without the need for intermediaries. The system is built on a decentralized network that stores data in a tamper-proof manner, which ensures that all parties involved can access and verify the information without the need for a central authority. The use of smart contracts in this system automates many of the processes involved in real estate transactions, reducing the time and costs associated with these processes. The system also allows for fractional ownership, which enables investors to buy and sell portions of a property. This feature promotes liquidity in the real estate market, making it more accessible to investors. Additionally, the system facilitates crowd funding for real estate projects, enabling smaller investors to pool their resources and invest in high-value real estate projects that were previously only available to larger investors. Overall, the Secure and Transparent Approach for Real Estate Transactions system offers a range of benefits over traditional real estate systems, including increased transparency, security, efficiency, liquidity, and accessibility. The potential for this system to transform the real estate industry is significant, and it is already gaining traction in many parts of the world.
Article Details
Unique Paper ID: 160867

Publication Volume & Issue: Volume 10, Issue 1

Page(s): 1512 - 1516
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