A key technological advancement in the last 10 years has been blockchain technology, which has the potential to revolutionize several societal areas including e-government, healthcare, and financial institutions. This research offers a system that leverages smart contracts to store real estate transactions on a private blockchain, specifically by utilizing Ethereum technology. Blockchain creates a safe environment that lowers the chance of fraud by operating characteristics like time-stamped storage, immutable record management, and separate digital keys for each participant involved, facilitating background checks and authentication procedures. The integration of tokenization, the interplanetary file system (IPFS), and other techniques within the Ethereum blockchain technology improves the efficiency and accessibility of real estate data. This study demonstrates that real estate transactions are stored safely in an immutable and transparent manner by applying smart contracts on a private blockchain and creating a better place for industries. While reducing transaction costs, fraud, and middleman influence, the suggested system improves security, transparency, and efficiency. Moreover, the stakeholders visualize and enjoy their transaction process and improve the trades. Further, to investigate the scalability and regulation of blockchain technology to manage a significant number of real estate transactions without sacrificing performance.

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Leveraging Blockchain Technology for Real Estate Transactions

  • V. Mareeswari,
  • R. Vijayan,
  • R. Srikanth,
  • K. Sireesha,
  • V. C. Lahari

摘要

A key technological advancement in the last 10 years has been blockchain technology, which has the potential to revolutionize several societal areas including e-government, healthcare, and financial institutions. This research offers a system that leverages smart contracts to store real estate transactions on a private blockchain, specifically by utilizing Ethereum technology. Blockchain creates a safe environment that lowers the chance of fraud by operating characteristics like time-stamped storage, immutable record management, and separate digital keys for each participant involved, facilitating background checks and authentication procedures. The integration of tokenization, the interplanetary file system (IPFS), and other techniques within the Ethereum blockchain technology improves the efficiency and accessibility of real estate data. This study demonstrates that real estate transactions are stored safely in an immutable and transparent manner by applying smart contracts on a private blockchain and creating a better place for industries. While reducing transaction costs, fraud, and middleman influence, the suggested system improves security, transparency, and efficiency. Moreover, the stakeholders visualize and enjoy their transaction process and improve the trades. Further, to investigate the scalability and regulation of blockchain technology to manage a significant number of real estate transactions without sacrificing performance.