Abstract
The real estate sector, an essential cornerstone of global economic growth, has been historically plagued by challenges including high fees, opaque transactions, and vulnerability to fraud. While the sector has been integral in shaping socio-economic structures and urban landscapes, traditional methods often present significant bottlenecks. With the advent of blockchain and collaborative technologies like smart contracts, there’s promise to reshape these archaic processes, offering transparency, accountability, and drastically reduced transaction times. This paper delves deep into the confluence of blockchain, encryption, and Non-Fungible Tokens (NFTs) in real estate, exploring how they might revolutionize the sector. We highlight the inherent challenges with these technologies and propose an integrated system that merges RSA encryption with blockchain for enhanced data security in the real estate digital domain.
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Notes
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We exclude ETH from our deployment choices due to its prohibitive smart contract execution costs.
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Since the double-blind of the manuscript, we will provide our code when it’s public.
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Tien, D.B. et al. (2024). The Next Horizon in Blood Product Management: Safety, Transparency, and Beyond. In: Koucheryavy, Y., Aziz, A. (eds) Internet of Things, Smart Spaces, and Next Generation Networks and Systems. NEW2AN ruSMART 2023 2023. Lecture Notes in Computer Science, vol 14543. Springer, Cham. https://doi.org/10.1007/978-3-031-60997-8_12
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