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Blockchain Technology Solutions for a Real Estate Company

A well reputed real estate company based in the USA, the firm aims to build new real estate projects and bridge the gap between construction and investor’s needs. The aim of the client was to build a new e-landmark with the help of Ethereum and Blockchain Technology Solutions for property investors.

Blockchain Technology Solutions

Project Goal / Challenges

The Real Estate client wanted to digitize their real estate business to the extent where the web platform would help users to buy a property in shares in the form of tokens in exchange of crypto. A single property would be owned by multiple investors thereby reducing the need for capital all at once and allowing more people to participate.

Solution We Delivered

Solvios Technology was successfully able to create a marketplace where the client could list their properties and prospective customers can buy their share in listed properties. In May 2022, Solvios Technology marked the completion of the 1st phase of the solution.

The Marketplace Requirement

Solvios Technology developed the mint and allocate system on the marketplace which includes:

  • Real Estate company will login to the Admin portal. They will list a property for sale along with some descriptions and images. Tokens will be minted in the background based on the value of the property and a smart contract will be associated with it and the transaction will be recorded on the blockchain.
  • Admin can also view the property details listed on the marketplace and can monitor the trades of the tokens on the marketplace over the blockchain.
  • Admin can approve or deny the buy request from registered users for the listed properties.

User Scenario

Users can buy shares in a property by placing a buy request and transferring crypto through their wallets:

  • Users Login and Registration on the marketplace.
  • After successful login, the user can browse through the listed properties on the listing page and can checkout the details.
  • The user can buy the shares for the property they want by connecting their crypto wallet (MetaMask or CoinBase) to the site.
  • Once the user will request for the number of shares the real estate company will get the notification.
  • After verification from the company the requested shares will be transferred to the respective user into their wallet in a couple of days and the transaction will be recorded on the blockchain.

Technologies Implemented

Technologies used for the Blockchain and Smart Contracts are:

The Outcome

The aim to build a real estate marketplace has boosted the organization’s vision for decentralized and transparent transactions with higher visibility for all stakeholders involved. It also became easy for small as well as large investors to buy properties through crypto on virtual platforms just by connecting their wallets and making a buy request.

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happen