The problem CryptEstate solves

A crypto-based real estate platform revolutionizes the traditional property market by addressing key challenges with blockchain and smart contracts. These technologies streamline transactions by automating document verification, title checks, and payments, eliminating intermediaries like agents, lawyers, and banks. This not only accelerates deal closures but also significantly reduces transaction costs for both buyers and sellers.

By using blockchain, the platform ensures transparency and trust, as all transactions and property records are stored on an immutable ledger, eliminating concerns about fraud or disputes. This secure, decentralized system enhances buyer confidence and reduces risks.

The platform also enables seamless cross-border investments by supporting cryptocurrency payments, removing the barriers of currency exchange, banking delays, and regulatory red tape. This opens up global real estate markets to a wider audience, making international transactions as simple as local ones.

Furthermore, the platform’s AI-driven document verification system instantly flags discrepancies, ensuring authenticity and preventing costly errors. With added security, decentralized record-keeping, and the use of multiple cryptocurrencies, it offers a faster, safer, and more cost-effective solution for buying, selling, and investing in real estate.

This innovative approach transforms real estate into a transparent, efficient, and accessible market for users worldwide.

Challenges we ran into

During the development of our Web3 real estate platform, we faced several challenges that tested our problem-solving abilities. Here's a breakdown of the key hurdles we encountered:

1. Choosing the Right Blockchain
   The Challenge: Deciding which blockchain to use was difficult due to the need for scalability, low transaction fees, and speed, especially for a real estate project. We considered Ethereum, Solana, and Polygon, but each had its pros and cons.

2. Integrating Okto for Wallet Connectivity
   The Challenge: Integrating Okto for wallet connectivity posed compatibility issues and gaps in the documentation, delaying the process.

3. Automating Document Verification
   The Challenge: Automating the verification of legal documents, such as property titles, while ensuring security and decentralization proved complex.

4. User Interface (UI) and Experience (UX)
   The Challenge: Balancing the complexity of blockchain interactions with an intuitive, user-friendly interface was challenging, especially for users unfamiliar with crypto.