REGIONAL INSTITUTE OF SCIENCE & TECHNOLOGY, MEGHALAYA
Run by: ERDF Foundation – Guwahati
Approved by AICTE, New Delhi & Affiliated to NEHU - Shillong
SYNOPSIS PRESENTATION
on
“REAL ESTATE MANAGEMENT USING SMART CONTRACTS”
Guided by:
Mrs. Kanmani Choudhary
Asst. Professor, CSE
Presented by-
Farah Khan 21RISTCSE006
S Bikranta Singha 21RISTCSE028
Tanmay Dutta 21RISTCSE034
1
CONTENTS
1. INTRODUCTION
2. BASE PAPERS
3. CONTRIBUTIONS TO THE FIELD
4. OBJECTIVES
5. EXPECTED OUTCOMES
6. REFERENCES
2
INTRODUCTION
• Blockchain: A decentralized digital ledger that records transactions across many
computers in a way that the record cannot be altered retroactively.
• The Real Estate industry faces challenges such as high costs, lack of transparency,
and delays due to reliance on intermediaries and outdated systems.
• The use of Smart contracts, which are self-executing agreements coded on the
blockchain eliminates the need for intermediaries, reduces costs, makes transactions
faster, more transparent, and secure.
BASE PAPERS
PAPER 1
[1] Title :
Source: [Link]
Summary: The paper explores the use of blockchain technology in real estate to
tackle issues like high fees, lack of transparency, fraud, and middleman
interference. It proposes a system utilizing a private blockchain and smart
contracts to securely and immutably record transactions. The system's architecture
includes a user interface, control layer, service layer, and data layer, with the
blockchain at its core for managing records and ownership. The study highlights the
benefits of private blockchains, discusses the consensus mechanism, and outlines the
roles of users such as admins and registered users.
KEY TAKEAWAYS
• Blockchain technology can be used to tackle challenges like high transaction
costs, lack of transparency, fraud, and the influence of intermediaries in the real
estate industry.
• A private blockchain is proposed over a public one, highlighting its suitability for
managing real estate transactions due to its controlled access and better security
features.
• The system is designed with a multi-layered architecture, including a user
interface, control layer, service layer, and data layer, each serving a specific
function to ensure smooth operation.
• Different roles, such as admin and registered users, are defined within the system,
with specific privileges and responsibilities to manage and operate the platform
effectively.
PAPER 2
[2] Title:
Source : [Link]
Summary: This paper explores how blockchain can transform land and real estate
property management by addressing issues like fraud, errors, and inefficiencies in
traditional centralized systems. Using a decentralized, immutable ledger, blockchain
ensures secure and tamper-proof documentation of property transactions. Each
transaction is recorded as a block, linked to previous ones, making ownership changes
permanent and consensus-driven. Blockchain also reduces the need for intermediaries,
while smart contracts automate transactions, cutting costs and delays for a more efficient
and trustworthy property management system.
KEY TAKEAWAYS
• In the realm of land and real estate property records, blockchain technology offers
a transformative approach to securely and transparently managing property
ownership and transactions.
• Each property transaction on a blockchain is recorded as a block, which is linked
to previous blocks in a chronological chain. This ensures that every change in
ownership is permanently documented and cannot be altered without consensus
from the network
• Smart contracts—self-executing contracts with the terms of the agreement directly
written into code—can automate the transfer of ownership once predefined
conditions are met, further reducing costs and delays.
• Blockchain can streamline the process of transferring property by reducing the
need for intermediaries such as lawyers and notaries, who traditionally verify and
record property transfers
PAPER 3
[3] Title: Tokenization of Real Estate Assets Using Blockchain
Source: [Link]
Summary: The document examines how blockchain technology can convert real
estate into digital tokens, allowing for fractional ownership and improved
investment accessibility. It outlines benefits like increased liquidity and
transparency, as well as challenges such as regulatory issues and technological
barriers. The paper suggests that blockchain has the potential to transform real
estate investments by making them more efficient and accessible.
KEY TAKEAWAYS
• Tokenizing real estate enhances liquidity, allows fractional ownership, and
reduces transaction costs, making property investment more accessible
• Using blockchain for tokenization ensures greater transparency, security, and
efficiency in transactions.
• Significant challenges include regulatory compliance, technological integration,
and achieving widespread market adoption.
• Blockchain has the potential to fundamentally change real estate investment by
democratizing access and improving transactional efficiency .
CONTRIBUTIONS TO THE FIELD
• Unlike many existing platforms, this system will focus on seamless integration
with existing legal frameworks to ensure that smart contracts are legally
enforceable in various jurisdictions.
• The system will prioritize ease of use, making blockchain-based real estate
transactions accessible to individuals with limited technical knowledge. This will
be achieved through a user-friendly interface and clear guidelines.
• The system will offer customizable smart contract templates that can be adapted
to different types of real estate transactions, ensuring that the technology is
versatile and applicable to a wide range of use cases.
OBJECTIVES
• To enhance transparency and trust in real estate management by leveraging
blockchain's immutable and decentralized ledger.
• To streamline real estate transactions by reducing the reliance on intermediaries
and automating processes through smart contracts.
• To minimize transaction costs and delays by implementing secure, self-executing
contracts that ensure faster and more efficient property dealings.
EXPECTED OUTCOMES
• Real estate transactions will be completed more quickly, with reduced reliance on
third party intermediaries.
• Users will experience significant cost savings due to the elimination of traditional
intermediaries and reduction of paperwork
• The system will enable more people to engage in real estate transactions by
simplifying the process and reducing barriers to entry.
• By using blockchain technology, the system will provide enhanced security for
real estate transactions. All records will be immutable and time-stamped, reducing
the risk of fraud and ensuring that transaction histories are accurate and tamper-
proof.
REFERENCES
[1] Ahmad, I., Alqarni, M. A., Almazroi, A. A., & Alam, L. (2021). Real estate
management via a decentralized blockchain platform. Comput. Mater. Contin,
66(2), 1813-1822.
[2] Plevris, V., Abdallah, H., & Alnatsheh, A. (2023). Blockchain and its Potential in
the Digitization of Land and Real Estate Property Records.
[3] Joshi, S., & Choudhury, A. (2022). Tokenization of real estate assets using
blockchain. International Journal of Intelligent Information Technologies
(IJIIT), 18(3), 1-12.
ANY QUESTIONS..?
