Vol.12, No.3, August 2023.                                                                                                                                                                               ISSN: 2217-8309

                                                                                                                                                                                                                        eISSN: 2217-8333

TEM Journal

TECHNOLOGY, EDUCATION, MANAGEMENT, INFORMATICS

Association for Information Communication Technology Education and Science

Ethereum Smart Contract Deployment for a Real Estate Management System (REMS) Implemented in Blockchain

Admirim Aliti, Marika Apostolova, Artan Luma, Azir Aliu, Majlinda Fetaji, Halil Snopce

© 2023 Admirim Aliti, published by UIKTEN. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License. (CC BY-NC-ND 4.0)

Citation Information: TEM Journal. Volume 12, Issue 3, Pages 1383-1389, ISSN 2217-8309, DOI: 10.18421/TEM123-18, August 2023.

Received: 22 March 2023.

Revised:   07 July 2023.
Accepted: 19 July 2023.
Published: 28 August 2023.

Abstract:

The real industry is crucial sector of the world wide financial system, with significant economic, social and environmental implications. However, real estate transactions are often slow, complex and costly and can be prone to fraud errors, which can lead to significant financial losses and legal disputes. This paper proposes the adoption of blockchain technology in real estate cadastral systems as a solution to the challenges encountered in managing property ownership and transactions. We have described the implementation of our prototype called REMS (Real Estate Management System) and we have presented the deployment of smart contracts in Ethereum platform. Based on measurement, benchmarks and other observation of the system, we have evaluated the server usage of the blockchain network and decided whether Blockchain-as-a-Service (BaaS) should be involved or not in our system. The study results demonstrate the successful implementation of a real estate management system (REMS) using blockchain technology and Ethereum's smart contracts. This study is important because it confirms that similar solutions can be implemented in other areas of public administration, where the structure of the work is similar, i.e. where we deal with issuing documents to citizens.

Keywords –Blockchain, smart contracts, Ethereum, real estate property.

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