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BlocProperties

Smart contract Real EState Application - SMARTER, SECURE & FASTER

BlocProperties is a platform that provides services for sell (through auction), rent and real estate launch in the property registry using smart contracts

  • Develop a digital real estate blockchain platform for the management of luxury home, apartments, investment property, property rentals, and sales.
  • Utilize Digital Token Technology to manage the distribution of real estate smart contacts.
  • Utilize computer algorithms, blockchain, location data, predictive analytics and more to help investors locate and sell properties, find renters and maximize their real estate investments.
  • Utilize computer algorithms, blockchain, location data, predictive analytics and more to help investors locate and sell properties, find renters and maximize their real estate investments.

Property Management Process Details

  • Property Listing Management
  • Auctions
  • Token Management
  • Smart Contracts * Owner Tenant / Seller / Buyer * Security Deposit
  • Online web protal

Financial Transaction Management

Blockchain Technology

Blockchain Technology has been adopted and adapted for use by the commercial real estate (CRE) industry. Blockchain technology can potentially transform core CRE operations such as property transactions like purchase, sale, financing, leasing, and management transactions.

Blockchain technology has impacted the real estate industry in a variety of ways, including offering a new means for buyers and sellers to connect with one another.

Blockchain could be used to cut intermediaries out of the real estate transaction process, thereby reducing costs.

This technology could also help to codify the practice of fractional ownership of real estate.

Digital Wallet - Metamask
* Software that manages private keys and converts it to blockchain address format.
* It’s a so-called digital wallet that runs as a Chrome extension. It stores Ethereum assets and shows transactions.
Ethereum Gas

Gas refers to the fee, or pricing value, required to successfully conduct a transaction or execute a contract on the Ethereum blockchain platform.

  • Every single operation that takes part in Ethereum, be it a simple transaction, or a smart contract, or even an ICO takes some amount of gas.
  • Incentivizes nodes for participating in the network and computing
  • Miners get paid an amount in Ether which is equivalent to the total amount of gas it took them to execute a complete operation. In that
  • Motivates developers to deploy efficient code to optimize the use of deployed proticols
Smart contracts

A smart contract is an agreement that needs no external action to execute the terms of the contract. Once the conditions for its execution have been met, the smart contract completes the agreed actions automatically.

Blockchain technology maintains a record of transactions is maintained across several computers linked in a peer-to-peer network. This allows smart contracts to be self-executing, with the terms of the agreement between buyer and seller directly written into lines of code existing on a decentralized network.

Ethereum allows developers to write smart contracts which define the EVM* instructions. (Ethereum Virtual Machine, Decentralized database – allows functional code to be distributed along the decentralized set of nodes.)

Smart contracts render transactions traceable, transparent, and irreversible.

Ethereum Real Estate Contracts are Flexible as contracts may be written so that any number of final sales prices, reductions in price, or increases, can be triggered based on specific events agreed to by the parties.

Digital Tokens - Non-Fungible Tokens(NFT)

  1. ERC721 Standard ERC-721 is a free, open standard that describes how to build non-fungible or unique tokens on the Ethereum blockchain. While most tokens are fungible (every token is the same as every other token), ERC-721 tokens are all unique.

    • ERC-721 defines a minimum interface a smart contract must implement to allow unique tokens to be managed, owned, and traded. It does not mandate a standard for token metadata or restrict adding supplemental functions.

    • Conduct Auctions on ERC721 standard and record payout formation on blockchain

Instalation

In a terminal, use NPM to install Truffle:

  • npm install -g truffle You may receive a list of warnings during installation. To confirm that Truffle was installed correctly, run:
  • truffle version

Test Cases

First, clone this repo from https://github.com/max-clinch/BlocProperties.git and run:

  • npm install To run the test:
  • truffle test If you're running into any issues, try out the Truffle debugger! If you want to only compile, you can simply run:
  • truffle compile You can create this blockchain and interact with it using:
  • truffle deploy