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The Impact of Blockchain Technology on the Real Estate Sector Using Smart Contracts

Author

Listed:
  • Uzair, Muhammad Mansab
  • Karim, Emadul
  • Sultan, Prof. Dr. Shair
  • Ahmed, Syed Sheeraz

Abstract

The block chain technology has been in the topic of much discussion due to its successful application in the crypto currency known as “Bitcoin" which has investment experts, economists, billion dollar financial institutes, big banks as well as governments taking sides on whether it should be legitimized and used as a currency or make it illegal to be used as a means of exchange. However, experts from different field like supply chain management and even from the medical field are more interested in how the block chain technology’s decentralized record keeping and numerous other benefits can be of use to them in their fields of work. This study concentrates on the block chain being used for real estate record keeping, since most geography’s have different procedures for record keeping, this study focuses on Defence Housing Authority in Karachi to check what the impact of applying the block chain technology to this area in Karachi would have on investors, real estate agents, residents and the government.

Suggested Citation

  • Uzair, Muhammad Mansab & Karim, Emadul & Sultan, Prof. Dr. Shair & Ahmed, Syed Sheeraz, 2018. "The Impact of Blockchain Technology on the Real Estate Sector Using Smart Contracts," MPRA Paper 89038, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:89038
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    File URL: https://mpra.ub.uni-muenchen.de/89038/1/MPRA_paper_89038.pdf
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    References listed on IDEAS

    as
    1. Patrick T. Harker, 2017. "Fintech: Revolution or Evolution?," Speech 131, Federal Reserve Bank of Philadelphia.
    2. Meghna Bal, 2017. "Securing Property Rights in India Through Distributed Ledger Technology," Working Papers id:11567, eSocialSciences.
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    Cited by:

    1. Jedidah Wanjagi & Olanrewaju Isola Fatoki, PhD, 2020. "Block Chain Technology: Smart Contract Application in the Real Estate Industry in Kenya," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 7(8), pages 13-17, August.

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    More about this item

    Keywords

    Block chain; Real Estate; Karachi; Pakistan;
    All these keywords.

    JEL classification:

    • L8 - Industrial Organization - - Industry Studies: Services
    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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