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Configuration and Implementation of Novel and Safe Methodology for Processing Real Estate Transactions by Utilizing Hyperledger Fabric

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Abstract

Beyond trust issues, blockchain has other benefits for businesses, like cost savings from increased productivity, speed, and automation. Blockchain dramatically lowers administrative and transaction expenses by lowering paperwork errors and the requirement for middlemen or third parties to confirm transactions. Real estate makes up a sizable portion of India's economic assets and transaction activity. The Indian real estate sector is expected to reach $10 billion in worth by 2030, up from $200 billion in 2021, and to contribute 13% of India's GDP by that time. The real estate sector has long followed established protocols, with local governments handling numerous formalities and administrative issues. Due to the lack of Security, Traceability, Decentralization, visibility, privacy, immutability, and innovation, the process is time-consuming and frequently turns away potential investors. This study suggested a safe and inventive design for three crucial real estate industry procedures. The setup and implementation of the suggested architecture are also discussed in the following portion of the article. The performance study of the suggested design and its potential scope are presented after the article. The proposed research work may be a major factor in the revolution of the Indian real estate sector.

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Authors and Affiliations

  1. Department of Computer Application, Marwadi University, Rajkot, Gujarat, 360003, India

    Vishalkumar Langaliya & Jaypalsinh A. Gohil

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  1. Vishalkumar Langaliya
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  2. Jaypalsinh A. Gohil
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Correspondence to Vishalkumar Langaliya.

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This article is part of the topical collection “Soft Computing Solutions for Secured & Smart Applications” guest edited by Sridaran Rajagopal and Kalpesh Popat.

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Langaliya, V., Gohil, J.A. Configuration and Implementation of Novel and Safe Methodology for Processing Real Estate Transactions by Utilizing Hyperledger Fabric. SN COMPUT. SCI. 4, 633 (2023). https://doi.org/10.1007/s42979-023-02099-z

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