Abstract: Although real estate is the most prominent investment vehicle in the world, it often relies on inefficient and antiquated methods for conducting business and keeping records. Real estate is known for its illiquidity, lack of transparency, transaction inefficiency, and fraudulent activities. Recently, however, technology has begun to remold the dynamics of this asset class. Specifically, blockchain technology has the potential to help the system overcome several obstacles in the real estate sector. Blockchain has already proven to solve the illiquidity problem through tokenization but a large possibility for applications of blockchain in real estate remains unexplored. This study aims to explore how blockchain technology with the help of smart contracts, could be adopted by the government to facilitate the process of real estate investment.
Keywords: Blockchain, Real Estate, Smart Contract, Tokenization, Illiquidity