Property and Pixels: Redefining Real Estate in the Digital Era

This paper addresses the systemic inefficiencies of the traditional real estate system, such as manual processes, intermediary reliance, and lack of transparency, by exploring the integration of blockchain technology. We propose a paradigm shift in real estate transactions management through blockchain’s decentralized nature, which enhances transparency, security, and efficiency. Our significant contribution is the development of an RSA-encrypted Non-Fungible Token (NFT) framework tailored for real estate transactions. This framework prioritizes security and privacy by using RSA encryption to protect sensitive transaction data and personal information, ensuring access only to authorized entities with corresponding private keys. We extend this security to image and text-based NFTs, ensuring robust property representation. Additionally, the framework’s deployment across multiple Ethereum Virtual Machine (EVM)-supported platforms demonstrates its versatility and adaptability. Our research presents a groundbreaking approach in blockchain-based real estate transactions, offering a novel solution that mitigates risks associated with both traditional and digital methods in the real estate sector.