Sampatti Solves this Problem of Legal corruption by proving a second secure layer of decentralization over this current government execution process.
We know that currently there is no online way to buy and sell your property and we also know the reason behind that because the legal work behind the property right transfer is soo much complicated and contains many different steps that have to be done in the right way.
Also, that's the reason that there is one centralized point in the whole process, So Sampatti is creating a platform where you can come and add a second secure decentralized, and immutable way to prove your ownership by creating an NFT of your asset. But,
Why there is a need of creating an NFT?
To be sure that there is not any kind of loopholes in the legal system we are adding an NFT layer of security, here we are not saying that now you don't have to go through the legal system, but we are saying that you just have to create an NFT and make sure that after that there will be an digital unique copy of your physical asset on the blockchain and you can be sure that there will be no change with the ownership on NFT without your consent
How we are Verifying the legal documents?
-We have a decentralized document verification organization on our Dapp.
-We have users that act as VALIDATORS and help in securing the docs verification process on the Dapp.
How to become a validator ?
You just have to Stake the Native Tokens of our Sampatti Dapp which is " SPTToken ". We are following the Ethereum protocol that the more you stake more the value of your say in the environment.
What about the bad practices?
We are slashing the validators who validate the docs in the wrong way, this is for maintaining and realizing the power validators have in their hand and they must be careful while using them.
Final Thing To be Notice, Sampatti " NOT AN NFT MARKETPLACE "
The First and Main challenge we ran into, is to understand the functioning of real estate and how any property is actually transferred, basically how the rights of a property are exchanged. So we studied many articles regarding that and got to know a lot about the functioning of the current protocol.
It takes a lot of time to discuss the pros and cons of the ideas with others and after so much drafting our team gathered on the same place that, yes we are gonna make this happen.
The second challenge is to understand the protocols that we can use and that have genuine functionality that will help us to make this dapp happen and solve this problem experienced by many people regularly, so we started learning about protocols and after continuous efforts, we finally integrated the protocols seamlessly.
While creating the smart contract we also face a small challenge that how we are gonna make this contract efficient and optimized so that we use the storage of blockchain functionality at its max. So after continuous testing and debugging, we made our contracts work properly and deployed them over the FVM protocol.
We also had our exams in between, so have to work as effectively as we can by managing our studies also, so that is also a kind of its problem.
Tracks Applied (6)
Filecoin
Arcana Network
Livepeer
Chainlink
Push Protocol
Mantle
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