Applying Blockchain Technology to Real Estate Transactions

Abstract

Blockchain technology is implemented by several components and mechanisms that interact with each other to provide a secure model for data storage. Immutability, transparency, traceability, and reliability of the data are goals that could be reached by Blockchain. In addition, the blockchain cryptography techniques are cleverly used for dealing with the data privacy, integrity, and storage aspects. In our project, the blockchain mechanisms and components are determined and explored by the literature reviews, and by applying blockchain- based application for real estate transactions. In this application, a public blockchain, together with its wallet are successfully used to achieve the exchange and store of real estate transactions globally and safely without a third party. In the specification document (Appendix A), we have reviewed the blockchain components and identified the real estate drawbacks, in addition, we have gathered requirements for analysis phase to implement our system. In this dissertation document, we detail our background on Blockchain and the proposed system. In addition, the design phase is carried out by the use case diagram, the class diagrams, the entity relationship diagram, the sequence diagrams, and the web architecture diagram, then the implementation phase is detailed by explaining the smart contract code and an important application’s code. The test cases and the user manual for the system are carried out, and before providing the conclusion and the future work, the security issues are addressed.