BlockEstate: Revolutionizing Real Estate Transactions through Hyperledger-based Blockchain Technology

Authors

  • Laviza Falak Naz Department of Software Engineering, NED University of Engineering & Technology, Pakistan https://orcid.org/0000-0003-3740-209X
  • Rohail Qamar Department of Computer Science & Information Technology, NED University of Engineering & Technology, Pakistan https://orcid.org/0000-0001-8697-6706
  • Raheela Asif Department of Software Engineering, NED University of Engineering & Technology, Pakistan
  • Saad Ahmed Department of Computer Science, IQRA University, Pakistan
  • Muhammad Imran Department of Computer Science & Information Technology, NED University of Engineering & Technology, Pakistan
Volume: 14 | Issue: 3 | Pages: 14458-14464 | June 2024 | https://doi.org/10.48084/etasr.7105

Abstract

This study introduces BlockEstate, an innovative platform to revolutionize real estate transactions through the application of Hyperledger blockchain technology. BlockEstate presents novel contributions in the form of a pioneering compensation request mechanism and a sophisticated chaincode for real estate transaction management. These advancements address long-standing challenges in traditional real estate transactions by leveraging the decentralization, immutability, and transparency of blockchain technology. By ensuring secure and transparent financial transactions and automating property ownership conveyances, BlockEstate sets a new standard for efficiency and safety in the real estate industry. This study comprehensively investigates the design, functionality, and impact of BlockEstate, highlighting its unique contributions and potential to transform the real estate market.

Keywords:

blockchain, real estate, hyperledger, chaincode, property ownership management, pay order, decentralization, transaction security, financial transparency, smart contracts, digital tokenization, property token

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How to Cite

[1]
L. F. Naz, R. Qamar, R. Asif, S. Ahmed, and M. Imran, “BlockEstate: Revolutionizing Real Estate Transactions through Hyperledger-based Blockchain Technology”, Eng. Technol. Appl. Sci. Res., vol. 14, no. 3, pp. 14458–14464, Jun. 2024.

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