RESCHAIN: A Futuristic Solution for Avoiding Fraudulence in Real Estate Environment

Real estate is a major influential business form in the present economic world. The demands of social life and comfort and ease of utility access have risen a boom of development in a real-estate business environment. With all its pros and cons and a variety of property forms, the fraudulent property is a serious issue in this environment, where illegal properties are shown as legal and transactions of amount are done accordingly; as a result, the stakeholders face huge losses and sometimes go bankrupt too. To avoid such fraudulence and for providing transparency for the property construction-buying-selling parameters, we have come up with a logical solution of real estate chain (RESCHAIN). RESCHAIN is a blockchain-based real estate ledger, which is to be distributed in nature and is publicly available. Therefore, anybody can access the required real estate property details by being a member of RESCHAIN, so that the acquisition of the real estate can be made officially legal and justified. Moreover, to be a member of RESCHAIN, we need to use cryptographic services for security requirements. As a result, confidentiality-integrity-availability triad is to be ensured for the inclusion in the required solution.