A Novel Blockchain-Based Application for Real Estate Management System

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Year-Number: 2024-54
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Abstract

Traditionally, real estate management systems are based on a centralized approach where a single entity controls and manages all aspects of a real estate. However, centralized systems can compromise data security and integrity when issues arise. With the emergence of blockchain technology, it is now possible to create decentralized systems using smart contracts to automate various tasks and reduce the need for intermediaries. In this study, a real estate management system leveraging smart contracts and the decentralized structure of blockchain to facilitate the buying and selling of real estates has been developed. The developed application has successfully completed real estate transactions, and transaction information data has been recorded on the blockchain. The benefits of using a decentralized system, such as reducing transaction costs and increasing security, have been observed. This application not only reduces the physically conducted processes in a real estate transaction but also brings transparency to the real estate buying and selling process, contributing to the solving of trust issues between buyers and sellers in property transfers.

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