Block Estate

BlockEstate is a decentralized real estate platform that enables users to buy, sell, and lease properties seamlessly through a blockchain-based system. The platform provides a transparent and secure environment for real estate transactions, ensuring that ownership and lease agreements are recorded on the blockchain, enhancing trust and reducing the potential for fraud.

Detailed Description:

1. User Verification: The process begins with user verification, where individuals must verify their identity using official ID documentation. This step is crucial to ensure that all participants in the platform are legitimate and trustworthy.

2. Leasing Property: Set Duration of Lease: Users looking to lease a property can set the duration of the lease according to their needs. This flexibility allows both short-term and long-term leasing options. Set Tokens Count: The platform uses a token-based system where the property value or lease value is represented in tokens. Users can set the number of tokens required for the lease. Initial Payment: Once the lease terms are agreed upon, the lessee proceeds with the initial payment. This payment secures the lease and updates the temporary ownership status on the blockchain. Temporary Ownership Updated: After the initial payment, the platform records the temporary transfer of ownership rights or leasehold interests, ensuring that both parties are protected under the agreed terms.

3. Selling Property: Set Token & Lease Price: Property owners can list their properties for sale by setting the price in tokens and specifying the lease price if applicable. This step includes verifying the property with land documents, ensuring that the listing is legitimate. Verification with Land Document: The platform requires verification of property ownership through land documents, adding a layer of security and authenticity to each listing. Added to Marketplace: Once verified, the property is added to the marketplace, where potential buyers can browse and purchase properties.

4. Buying Property: Set Tokens Count: Buyers can decide on the number of tokens they wish to allocate to a specific property, making it easy to handle fractional ownership or full property purchases. Full Payment: After selecting the property and setting the token count, the buyer proceeds with the full payment. This transaction finalizes the purchase. Permanent Ownership Updated: Upon payment, the blockchain updates the property’s ownership status to reflect the new owner permanently. This ensures a transparent and immutable record of ownership.

Flow of BlockEstate project:

Frontend: Built with Next.js for fast, SEO-friendly interfaces, and styled using Tailwind CSS for a responsive design. Authentication: Web3Auth handles user sign-in with secure wallet or social logins, ensuring verified, decentralized user identities. Blockchain & Smart Contracts: Solidity powers the smart contracts for property transactions, while Hedera offers a scalable, low-cost blockchain infrastructure for secure and efficient operations. Backend: MongoDB stores off-chain data like user profiles and property listings, providing flexibility and scalability. Legal Documents: Sign Protocol manages digital signing of contracts, ensuring legality and immutability on the blockchain. Notable Hacks:

Hybrid Transaction Model: Critical data is stored on-chain, while non-essential data is off-chain, optimizing speed and cost. Fractional Ownership: Custom tokenization logic in Solidity enables fractional property investment. Partner Benefits:

Hedera ensures high-speed, secure transactions. Web3Auth simplifies onboarding with versatile authentication methods. BlockEstate delivers a seamless, secure real estate platform, democratizing access to property investments through innovative tech.