BlockTrust

BlockTrust

A Blockchain Based Real Estate Management System on Bitcoin sv Blockchain

The problem BlockTrust solves

  • Fraud Prevention: By recording property ownership and transactions on an immutable blockchain ledger, the system
    will reduces the risk of fraudulent activities such as document forgery and identity theft.

  • Transparency and Trust: Blockchain is transparent any one see what is going on, and the trust is based on
    Mathematical/cryptographic proof.

  • Eliminate Intermediaries: Traditional real estate transactions often involve multiple intermediaries, such as agents,
    lawyers, and escrow services, leading to increased costs and complexity. A blockchain-based system can processes and
    eliminate unnecessary intermediaries.

  • Global Access: As Blockchain technology operates on a decentralized network, allowing participants from anywhere to
    engage in real estate transactions without geographic limitations, this facilitates cross-border transactions.

So, in this propose solution i developed a blockchain based real estate management system where i used Ordinal NFTs to represent real world asset, and Ordinal NFTs are the only perfect fit for this.

There must be a contract owner/government official that will have the privillage to add or remove land inspectors, and only land inspectors can inscribe and send the Ordinal to the owner after verifying that the owner has the valid document for the Real world asset, and there is also an inbuilt market place to buy and sell Houses, and buyer will have a 3D view of assets list for sell on a Google Earth Map.

Some signature restriction are removed to allow judges explore the app.

Challenges I ran into

The challenges i ran in to is the process of inscribing the asset related data on chain as we need the property ID, description, physical address, and coordinate to a real time view of the asset, which will all be inscribe as one Ordinal NFT as json.

Then implementing the wallet that will only display the Ordinal NFTs that were inscribed by the system so that to have unique and uniform data.

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