Open AccessExploration of Blockchain Based Solution for Real-Estate
Author(s) -
Karan Bhatia,
Jivesh Vij,
H R Prashanth Kumar,
Yogesh Sharma
Publication year - 2019
Publication title -
international journal of scientific research in computer science, engineering and information technology
Language(s) - English
Resource type - Journals
ISSN - 2456-3307
DOI - 10.32628/cseit1952263
Subject(s) - real estate , database transaction , blockchain , computer security , credibility , computer science , robustness (evolution) , escrow , currency , business , commerce , finance , database , economics , law , biochemistry , chemistry , political science , monetary economics , gene
Blockchain is an evolving technology providing us the ability to design and develop decentralized distributed solutions. It has yields wide-scale impact on finance industry with reducing intermediate authorities. By building digital currency tracking of the transaction has become much easier and immutable nature of block not only give credibility but also is a cheap storage mechanism. So, we decided to explore its feasibility in the real estate industry. Real estate is one of the biggest sectors all across the world and is known to have millions of transactions every day. By making a digital system we can not only reduce redundant paperwork but also increase robustness in the system. It would also help investigating agencies to track transaction like many incidents came where terrorists bought or leased land with fake identities. By developing a system efficient enough to validate citizen and property and provide quick fetching of the transaction would be a revolutionary change for the industry as at present date all transaction are offline at it is impossible to collect data all across the country. This research paper explores one possible model of blockchain in the real estate market particularly rules and regulation followed in India with authentication using AADHAR.