BlockHouse: a Blockchain Based Smart Contracts Tool for Housing Rental

Abstract

Service industries are increasingly leveraging new technologies to foster growth, streamline business processes, enhance transparency, and maximize profits. The room and house rental services sector in large cities is no exception. However, current rental service models face several challenges, such as the excessive reliance on intermediaries like brokers, agents, and banking services. Moreover, managing transactions related to rental costs, utilities, and other fees typically falls on the tenants and landlords, often leading to disputes. In this article, we propose a solution to address these issues and improve transparency and efficiency in the rental process by utilizing smart contracts based on Blockchain technology. This approach led to the development of a tool named BlockHouse, which operates on both web and mobile platforms. BlockHouse aims to ensure transparency in rental agreements and streamline all transactions through e-wallets, thereby enhancing efficiency and reducing conflicts. We have tested BlockHouse in the Ho Chi Minh City market and gathered feedback from numerous users. The results show that users are generally satisfied with the tool, and we are currently working on expanding the system’s functionalities.