Smart Contract Implementation in Real Estate Sector.

Abstract

Many developing countries are concerned about the real estate-based problem. Smart contracts in real estate have yet to become commonplace. But people are starting to adopt this system because of its reliability and hassle-free procedure. In a smart contract system, users can find properties or upload property details to sell a property. Property information will remain public and unchangeable. After seeing a suitable property, the buyer and seller both will agree and after the transaction, the property ownership will be transferred through cryptocurrency—the astounding advantages that smart contracts provide to the real estate sector. Better accessibility, cost savings, transparency, safety, and efficiency are some of the primary benefits of using smart contracts in real estate. This study explores technologies and processes to implement smart contracts in Bangladesh’s real estate market.