Blockchain Technology in Real Estate Development: Enhancing Transparency and Efficiency in Redevelopment Projects
"Blockchain technology is transforming industries worldwide, and the real estate sector is no exception.
With the increasing complexity of redevelopment projects, challenges such as lack of transparency,
inefficient processes, and disputes over ownership records have become significant hurdles.
Blockchain offers a promising solution by providing a secure, decentralized, and immutable ledger
system.
This Directed Research Project (DRP) explores the potential of blockchain technology in enhancing
transparency and efficiency in real estate redevelopment. It focuses on how blockchain can streamline
processes such as property transactions, title verification, and contractual agreements, reducing the
risks of fraud and disputes. Additionally, the study investigates the role of smart contracts in
automating agreements, thereby saving time and reducing costs.
By integrating blockchain into redevelopment, stakeholders-including developers, investors, and
government bodies-can benefit from increased trust, reduced delays, and improved accountability.
This research aims to provide insights into the implementation challenges and opportunities of
blockchain, contributing to the evolution of more efficient and transparent redevelopment practices."
