The real estate time-stamping and registration system based on Ethereum blockchain
Liyuan Zhang, Limian Ci, Yonghong Wu, Benchawan Wiwatanapataphee
Abstract
In recent years, there has been a growing interest in real estate investments that utilize blockchain technology. Traditional real estate investments usually involve third-party intermediaries for verifying and recording real estate informal transactions. This paper proposes a blockchain-based real estate investment model and presents a detailed description of the real estate register authentication aspect of the model. The model uses blockchain technology to create tamper-evident records of real estate transactions and provide secure authentication and verification of real estate informal transactions. Meanwhile, each real estate transaction is recorded in a block, and all transaction records are kept on the blockchain. This means that inventors can access these transaction records and verify their authenticity and validity. The system can also use smart contracts to automate the process of real estate transactions, which further improves transaction efficiency and reduces costs. Further, the model's timestamp and authentication mechanism can eliminate third-party intermediaries and ensure the authenticity and validity of real estate transactions through distributed ledgers and verification mechanisms. Overall, blockchain-based real estate systems offer advantages of security, transparency, efficiency, and cost reduction. With ongoing blockchain advancements, these systems are expected to play a crucial role in future real estate investment transactions.