Digital Automatic Execution and Verification Mechanism of Property Rights Based on Blockchain and Smart Contracts

Abstract

Blockchain technology (BT), as another important innovation following cloud computing, big data, mobile Internet and other information technologies, uses distributed node consensus algorithms to verify, store and update data, showing the unique advantages of centralization, distrust, anonymity and data tamper resistance. Smart contracts are based on BT as the underlying support, achieving automatic execution of contracts and providing more efficient and secure solutions for various transactions. This article delves into the digital automatic execution and verification mechanism of property rights based on BT and smart contracts. Through this mechanism, property rights information can be digitized and securely stored on the blockchain, achieving real-time updates and multi-party sharing of information, thereby greatly improving the transparency and traceability of property rights transactions. The application of smart contracts further enhances the automatic execution of transactions, ensuring the automatic triggering of relevant operations when transaction conditions are met, and ensuring the legality and effectiveness of transactions through built-in verification mechanisms. The experimental results indicate that this mechanism not only improves the efficiency of property rights transactions, reduces transaction costs and risks, but also brings revolutionary innovation to the field of property rights transactions.