Enhancing Security of Real Estate Registration Through Blockchain Technology

Abstract

A blockchain is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. It uses cryptography to allow each participant on the network to manipulate the ledger in a secure way without the need for central authority. Blockchain technologies are being tested and implemented across numerous use cases to solve a wide range of problems. In the real estate sector, there are a high number of transactions involving high values and a wide involvement of different parties from buyers, sellers, etc. All of whom want to secure their interests as best as possible, aiming to reduce their respective liabilities. The potential for smart contracts and the ability to securely record and transfer titles of property using blockchain could revolutionize the industry. This paper provides an in-depth analysis of how blockchain can target specific issues of lack of trust and fraud in the current real estate system and increase efficiency, traceability, and speed around the transfer of assets. The proposed has been tested for many things and provides its effectiveness, it is provide generating the block with adding these data to it in 3.118488 second. This system has uniquely contribution over other systems by integrating fingerprint protection as additional feature. As well as, has used advanced encryption technologies such as AES method for encrypting the data.