A Blockchain-Based Real Estates Registration System

Real estates are essential part of our daily life and it contains a huge amount of data. This data need to be stored and organized and that is the role of real-estate registration system. The traditional real-estate registration systems face many issues such as fraud, having less data privacy, and inefficiency and these issues needs to be minimized or totally solved. To achieve this, blockchain technology will be used which stores data in a distributed ledger. Indeed, it has many desired features that will help to achieve a secure, trusted real-estate registration system such as immutability, transparency and smart contracts, which are used to set the rules of the registration process. To integrate blockchain technology with property registration system some methodologies were used in this paper. An interview was conducted with a real-estate professional, and a review was done to study the current registration systems and how blockchain could be used to enhance them, and self-testing was done to collect data to analyze the performance of the system. The system was implemented using Solidity programming language and then tested in many terms such as security, performance, and cost. From the test results, noticed the registration process is faster than traditional registrations system. It takes less than a minute, but the time varies from time to time based on the network status at the time of performing transaction. Moreover, the system is secure and no unauthorized user can perform any authorized users actions. In a country like Qatar, the registration process takes 0.2% registration fees from the total price of the expensive properties. On the other hand, this system has an average price is less for each process. The registration process will cost the owner around 0.00045477ETH and the ownership transfer will cost the owner around 0.000086973ETH. These prices are equal to 0.83 USD and 0.16 USD. Although the system functioned successfully, there are some limitations that need to be addressed like scalability, and cost challenges since it might change with time.