Blockchain

Real Estate problem Blockchain

Project Overview

Ever encountered a trouble while Buying a property like seller spoke fake statements or some fake document for the property? At the time of contract or after contract is being made you came to know that it’s not what was discussed previously and all your efforts and money is wasted. Our Client came up with an idea to make this process more secure and trustworthy.

Smart Contract is the best possible technical solution to this problem amongst the technologies available.

Seller can Register property by filling out the form containing basic description of the property and for that the smart contract is published. Buyer can thereby rely on the provided details as the smart contracts once published cannot be altered.

Key Features

• Transparency & Trustworthy.
• Secure.
• Fast and Effective.
• Easy to use.
• No Middleman.

Business Requirements

The client came up with his requirement to make a platform that is transparent and trustworthy where both the Seller and the Buyer come together with their respective needs and have a secured and reliable solution for their needs.

The seller can publish some documents that when agreed by both the parties can be considered as valid and the deal can be taken further. Similarly, the buyer can view the document and can rely on content specified and then take a step further with that.

The seller can publish multiple copies of such types of documents for the various property he owns and each record should be shown as a history.

Solution:

Innovexxia came up with a solution developing a web app through which the buyer and the seller can register separately. Seller can fill out the property details form and based on the inputs a smart contract is published and stored over Ethereum Blockchain. When the same seller wants to upload property description for the another property then that data is saved as a separate data over a new address on blockchain and with a new smart contract for the same.

If seller wants to update the data for the already published contract then it will be published as a separate transaction with new address to make the system secure and trustworthy. A separate track is maintained for all the transactions that is made by a seller like what is being added, updated from his profile. When both parties agreed upon the details mentioned in the smart contract they can proceed further with that deal then.

Development:

Blockchain Team and Analyst team at InnovateInfinite sat together and came up with the solution to develop a web application. The Development process involved developing smart contracts over Ethereum blockchain.

Smart contract is a pre-programmed condition that gets triggered and executes the contract clause when both sides fulfill their obligations according to the contract. Ethereum is a decentralized platform for applications that run exactly as programmed without any chance of fraud, censorship or third-party interference which suited the clients requirement perfectly.

Technologies:

• Smart Contracts
• Ethereum Blockchain
• Node JS

Reach us out If you need help with your IOT/AI/ML Startup/Idea !

info@innovexxia.com