Design of Blockchain System for a Real Estate (a Revolution)

Proceedings of the 5th International Conference on Cyber Security & Privacy in Communication Networks (ICCS) 2019 | National Institute of Technology, Kurukshetra, India

5 Pages Posted: 30 Dec 2019

See all articles by Aditya Verman

Aditya Verman

Manav Rachna International Institute of Research and Studies

Vishrant Khanna

Manav Rachna International Institute of Research and Studies

Poonam Tanwar

Manav Rachna International Institute of Research & Studies

Date Written: December 30, 2019

Abstract

Blockchain the technology behind the highly successful Bitcoin has recently gained attention from researchers who want to use this new and disruptive technology in many fields, potentially redesigning businesses, politics, and society at large. Despite all the research in blockchain, no buyer-company-government buying and selling schema has been designed till date. This schema ensures no single point of failure, faster implementation of government schemes, e.g.- Pradhan Mantri Awas Yojna (PMAY), easy document recovery in case of disaster, and easier trade for everyone helps boost the economy etc. The prime objective of this paper is to fill in this gap and discuss the various key benefits of having a decentralized real estate ecosystem for buying and selling based on blockchain technology and the challenges are to replace the traditional real estate ecosystem and make this schema a standard for any buying or selling of property through the use of the platform of Real Chain providing the DLT (Distributed Ledger Technology) environment which will counter the corrupt middlemen and remove traditionally centralized institutions from the process of buying and selling.

Suggested Citation

Verman, Aditya and Khanna, Vishrant and Tanwar, Poonam, Design of Blockchain System for a Real Estate (a Revolution) (December 30, 2019). Proceedings of the 5th International Conference on Cyber Security & Privacy in Communication Networks (ICCS) 2019 | National Institute of Technology, Kurukshetra, India, Available at SSRN: https://ssrn.com/abstract=3511424 or http://dx.doi.org/10.2139/ssrn.3511424

Aditya Verman (Contact Author)

Manav Rachna International Institute of Research and Studies ( email )

Manav Rachna Campus Rd
Sector 43
Gadakhor Basti Village, 121010
India

Vishrant Khanna

Manav Rachna International Institute of Research and Studies ( email )

Manav Rachna Campus Rd
Sector 43
Gadakhor Basti Village, 121010
India

Poonam Tanwar

Manav Rachna International Institute of Research & Studies ( email )

Delhi Suraj Kund Road
Sector 43
Faridabad, Haryana 121004
India

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