Property Registration and Ownership Transfer using Blockchain
Pages : 1013-1017
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Abstract
It’s important to have accurate records for any kind of property such as Land or Home. Such a record can find the present owner of the property and provide proof that he is truly the owner to prevent the unauthorized, fraudulent changes. The current property verification and transfer procedures are slow, susceptible to errors, unclear and intermittently corrupt. The proposed system allows us to provide a more transparent system for document registration and transfer of ownership using blockchain technology. Here we make use of the digital signature concept to maintain the trustworthiness of the property registration process. The attempt to use IPFS decentralized file-sharing platform who gives even more secure data transfer by the fact that there is no dependence on a central point of storage, reducing the risk of it being lost or destroyed. The main objective of this systems to avoid fraud while property transaction. To make Digital contract as legal document, so it replaced paper documentation format also, to make secure deal records, where no one can interfere in blocks of records.
Keywords: Property Registration Process, Ownership Transfer, Blockchain Technology, Digital Signature, Decentralized Platform,Transparent System,Trustworthiness.