Using the Blockchain Technology to Develop the Alternative Real Estate Trading Platform

Abstract

The real estate transaction process is complicated and most of people rely on the third-party intermediary company to complete the transaction In addition to the intermediary fees they also need to bear the risk of transaction disputes However nowadays the house price is getting higher and higher which makes the homebuyer overburdened and the transaction condition is relatively unstable Regarding information asymmetry the government has implemented the real-price registration system since 2012 However the prices may not be consistent with the facts such as increasing the transaction through decoration fees and the registration of the real price becomes the basis for the manufacturer to raise the price Blockchain technology has been booming in recent years and in many industries more and more people are using newly created cryptocurrencies for transactions and even as investment commodities Blockchain technology is famous for its decentralized and unchangeable features Based on the cryptography mechanism it attaches a trusted timestamp to each transaction and records transaction related information transparently and publicly Its features are very suitable for cash flow transactions Therefore this study will use the blockchain and smart contract technology to establish a new trading model and develop a set of alternative real estate trading mechanism to solve the problem of price difference between buyers and sellers and at the same time enable all the participants to obtain due benefits The blockchain trading platform in this study will integrate the front-end user interface and smart contract scripts based on a decentralized application so that users can easily trigger smart contracts through the Web and automatically determine the transaction status through smart contracts to complete real estate transactions in the form of disintermediation The development and application of this real estate transaction system will improve the current transaction effectiveness of the real estate market

Date of Award	2020
Original language	English
Supervisor	Chung-Wei Feng (Supervisor)