Blockchain Oracles for Real Estate Rental
Nuno Braz, João Santos, Tiago Dias, Miguel Correia
TL;DR
This work proposes the use of two blockchain oracles to handle, respectively, maintenance issues and automate rent payments in the context of property rental in a blockchain-based property rental platform.
Abstract
Blockchain technology has seen adoption across various industries and the real estate sector is no exception. The traditional property leasing process guarantees no trust between parties, uses insecure communication channels, and forces participants who are not familiar with the process to perform contracts. Blockchain technology emerges as a solution to simplify the traditional property leasing process. This work proposes the use of two blockchain oracles to handle, respectively, maintenance issues and automate rent payments in the context of property rental. These two components are introduced in a blockchain-based property rental platform.