Blockchain holds the potential to revolutionize every aspect of our online lives and one industry in particular that's prime for is real estate. Real Estate is a pay-to-play system, property ownership can be easily modeled on blockchain with NFTs(Non-fungible tokens) and the transfer and sale of property can be made way more efficient using blockchain and smart contracts, because most of the industry lives in the dark ages on how it does things now. Crypto Bricks makes the process of buying and selling way more easier and efficient, completely paperless, safe and quick!
Crypto Bricks makes the process of buying and selling way more easier and efficient, completely paperless, safe and quick!
First, the owner just adds the property's details and photos on the platform.
These details in the background are stored in the form of metadata through IPFS(InterPlanetary File System). The buyer then makes the down payment or earnest deposit using cryptocurrency(Ethereum), the property is next inspected by the inspector, and finally, the appraiser confirms the sale of the property.
The lender (or bank) completes the transaction by giving the seller the remaining funds after the inspector and appraiser have verified the property.
The seller then approves the deal, and ownership is then given to the new owner.
- Using IPFS for the property details as metadata. We faced issues in uploading and fetching of the data.
- While importing all the Hardhat local blockchain accounts to MetaMask.
Ishan Rakte
Aastha Agarwal
Contributions, issues, and feature requests are welcome!
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