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Distributed Ledger Technology based Property Transaction System with Support for IoT Devices

Author

Listed:
  • Nikita Singh

    (National Institute of Technology Raipur, Raipur, India)

  • Manu Vardhan

    (National Institute of Technology Raipur, Raipur, India)

Abstract

Blockchain-based distributed ledger technology (DLT) is transforming the existing operational models of economy, financial transactions and other government machineries so as to allow these to operate in a much more secure and decentralized manner. This research focuses on providing framework for decentralized and secure P2P infrastructure for handling e-stamp and property registration mechanism along with interface for verification of document originality. The proposed efficient consensus mechanism reduces the overhead of broadcasting a new block by more than 50% coupled with saving CPU computation power along with network bandwidth. To ensure that even people at remote locations with constrained resources are able to participate and harness these benefits, a cloud server architecture & web interface for verification of property registered deed is also proposed.

Suggested Citation

  • Nikita Singh & Manu Vardhan, 2019. "Distributed Ledger Technology based Property Transaction System with Support for IoT Devices," International Journal of Cloud Applications and Computing (IJCAC), IGI Global, vol. 9(2), pages 60-78, April.
    • Handle: RePEc:igg:jcac00:v:9:y:2019:i:2:p:60-78
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    File URL: http://services.igi-global.com/resolvedoi/resolve.aspx?doi=10.4018/IJCAC.2019040104
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    Cited by:

    1. Jin, Xin & Zuo, Xiangbin & Dong, Xiaoli & Dong, YanJiao & Ding, Huanhuan, 2021. "Analysis of the policy guarantee mechanism of rural infrastructure based on deep learning," Technological Forecasting and Social Change, Elsevier, vol. 166(C).
    2. Islam, Md Rafiqul & Liu, Shaowu & Biddle, Rhys & Razzak, Imran & Wang, Xianzhi & Tilocca, Peter & Xu, Guandong, 2021. "Discovering dynamic adverse behavior of policyholders in the life insurance industry," Technological Forecasting and Social Change, Elsevier, vol. 163(C).

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