Inspiration

Blockchain holds the potential to revolutionize every aspect of our online lives and one industry in particular that's prime for is real estate. Real Estate is a pay-to-play system, property ownership can be easily modeled on blockchain with NFTs(Non-fungible tokens) and the transfer and sale of property can be made way more efficient using blockchain and smart contracts, because most of the industry lives in the dark ages on how it does things now.

What it does

Crypto Bricks makes the process of buying and selling way more easier and efficient, completely paperless, safe and quick!

• First, the seller just adds the property's details and photos on the platform. These details in the background are stored in the form of metadata through IPFS(InterPlanetary File System).
• The buyer then selects the property he/she wants to purchase and makes the down payment or earnest deposit using **cryptocurrency(Ethereum). **
• The inspector inspects the property next, if all the details are verified then, the inspector approves the inspection by just paying some gas fees.
• Similar to the inspector, the appraiser also checks the property and once the details are verified, approval is given by paying some gas fees.
• The lender (or bank) completes the transaction by giving the seller the remaining funds after the inspector and appraiser have verified the property.
• The seller then approves the deal, and ownership is then given to the new owner.
• Some gas fees is also paid by the seller, to transfer the ownership to the new buyer.