Hassle-free and secure transfer ownership of assets using a property of blockchain

Abstract

Blockchain technology is used worldwide in different fields. The features of blockchain use in the development of applications. Blockchain introduces mostly concerning high security. As we know the accurate records for any kind of property such as land or home is very important. Such a record can find the present owner of the property and provide evidence that he is candidly the owner to prevent the unauthorized, fraudulent changes. The current property verification and transfer procedures are slow, susceptible to errors, unclear, and intermittently corrupt.  In this paper, we are comprised security feature of blockchain for the development of an application for property registration and transfer ownership. The records of ownership maintain in the system by using the merkle tree concept of blockchain. Also, the attempt to use an interplanetary file system (IPFS) decentralized file-sharing platform which gives even more secure data transfer by the fact that there is no dependence on a central point of storage, reducing the risk of it being lost or destroyed.

The purpose of making the proposed system is to make deal of assets securely with transparency and make deal digitalized, so it replaced the paper documentation format to make secure deal records, where no one can tamper property records.