Security & Future
Vol. 6 (2022), Issue 2, pg(s) 78-81

INFORMATION SECURITY

Blockchain based solution for securing real property transaction: a case study for North Macedonia

  • 1 South East European University, Tetovo, North Macedonia
  • 2 Polytechnic University of Tirana, Tirane, Albania

Abstract

This paper will focus on the implementation of decentralized technologies, such as blockchain, on the issuance and management of real estate properties, starting with ownership of the certificates. The focus will be the improvement of the actual process, as well as increasing integrity and trustworthiness of ownership certificates. A series of technology and methodology selections will be made, along with the main plan of setting up the decentralized networks and enabling communication with the user. We propose a framework to manage real estate property’s certificates and explain in detail the architecture of the system and each component of the system. This system will be based on Ethereum EVM, where the main execution will take place, the smart contracts will be deployed and the main dataset will be stored. IPFS will be used to store files such as photos or scanned documents and will be attached to the certificate in blockchain.

Keywords

References

  1. Petrov D. et al. The Impact of Blockchain and Distributed Ledger Technology on Financial Services. International Scientific Journal “Industry 4.0”, Vol IV, Issue 2, pp. 88-91, 201, Web ISSN 2534-997X, Print ISSN: 2534-8582.
  2. Mechkaroska D., Popovska-Mitrovikj A., Dimitrova V. Secure Big Data and IoT With Implementation of Blockchain. In International Scientific Journal “Security $ Future”, Vol. II, Issue 4, pp. 183-185, 2018, Web ISSN: 2535-082X, Print ISSN: 2535-0668.
  3. Wani, Sh., Imthiyas, M., Almohamedh, H., Alhamed, K.M., Almotairi, S., Gulzar, S. Distributed Denial of Service (DDoS) Mitigation Using Blockchain – A Comprehensive Insight. Symmetry, pp. 227, Vol. 13, No. 2, 1st January 2021, DOI: 10.3390/sym13020227, Published by MDPI.
  4. Pereira, S. N., Tasnim, N., Rizon, R. S., Islam, M.N. Blockchain-Based Digital Record-Keeping in Land Administration System. In Proceedings of International Joint Conference on Advances in Computational Intelligence, May 2021, Online ISBN: 978-981-16-0586-4, Print ISBN: 978-981-16-0585-7, pp. 431-443, DOI: 10.1007/978-981-16-0586-4_35, Published by Springer, Singapore.
  5. Ameyaw, P.D., Vries, W.T. Transparency of Land Administration and the Role of Blockchain Technology, a Four-Dimensional Framework Analysis from the Ghanaian Land Perspective. Land 2020, 491, DOI: 10.3390/land9120491, Published by MDPI, Available: https://www.mdpi.com/2073-445X/9/12/491.
  6. Aliti, A., Leka, E., Luma, A., Apostolova, M. A Systematic Literature Review on Using Blockchain Technology in Public Administration. In Proceedings of 2022 45th Jubilee International Convention on Information, Communication and Electronic Technology (MIPRO), May 2022, Opatija, Croatia, Published by IEEE, DOI: 10.23919/MIPRO55190.2022.9803797.
  7. Ferdous, M.S, Chowdhury, M.J.M., Hoque M.A, Colman, A. Blockchain Consensus Algorithms: A Survey. arXiv:2001.07091v2 [cs.DC], February 2020, DOI: 10.48550/arXiv.2001.07091, Available: https://arxiv.org/pdf/2001.07091.
  8. Nguyen, G.T, Kim, K. A Survey about Consensus Algorithms Used in Blockchain. Journal of Information Processing Systems (JIPS), Vol. 14, No. 1, pp. 101-128, February 2018, Print ISSN 1976-913X, Online ISSN: 2092-805X, DOI:10.3745/JIPS.01.0024.
  9. Matzut, R., Pennekamp, J., Buchholz, E., Wehrle, K. Utilizing Public Blockchain for the Sybil-Resistant Bootstrapping of Distributed Anonymity Services. In Proceedings of the 15th ACM ASIA Conference on Computer and Communications Security (ASIACCS ’20), May 2022, Taipei, Taiwan. Published by ACM, New York, USA, DOI: 10.1145/3320269.3384729.
  10. Zhou, H. Fard, A. M., Makanju, A. The State of Ethereum Smart Contracts Security: vulnerabilities, Countermeasures, and Tool Support. Journal of Cybersecurity and Privacy 2022, ISSN: 264-800X, 2, pp. 358-378, Published by MDPI, DOI: 10.3390/jcp2020019.
  11. Norvill, R., Pontiveros, B.B.F., State, R., Cullen, A.J. Visual emulation for Ethereum’s Virtual Machine. In Proceedings of Conference: NOMS 2018 – 2018 IEEE/IFIP Network Operation and Management Symposium, pp. 1-4, DOI: 10.1109/NOMS.2018.8406332.
  12. McMurren, J., Young, A., Verhulst, S. Addressing Transaction Costs Through Bockcchain and Identity in Swedish Land Transfers. October 2018, Available at: https://blockchan.ge/blockchange-land-registry.pdf.
  13. Shang, Q., Price, A. A Blockchain-Based Land Titling Project in The Republic of Georgia, Rebuilding Public Trust and Lessons for Future Pilot Projects. Innovations: Technology, Governance, Globalization 2019, , Vol. 12, Issue 3-5, pp. 72-78, Online ISSN: 1558-2485, Print ISSN: 1558-2477 DOI: 10.1162/inov_a_00276.
  14. Sladic, G., Milosavljevic, B., Nikolic, S, Sladic, D., Radulovic, A. Blockcahain Solution for Securing Real Property Transaction: A Case Study for Serbia. ISPR International Jourrnal of Geo-Information 2021, 10, 35, DOI: 10.3390/ijgi10010035, Published by MDPI.
  15. Torun, A. Hierarchical Blockchain Architecture for a Relaxed Hegemony on Cadastre Data Management and Update: A Case Study for Turkey. In Proceedings of UCTEA International Geographical Information Systems Congress 2017, 15-18 November 2017, Adana, Turkey.
  16. Stefanovic, M., Przulj, D., Ristic S., Stefanovic, D. Blockchain and Land Administration: Possible Applications and Limitation. In Proceedings of the 5th International Scientific Conference on Contemporary Issues in Economics, Business and Management (EBM 2018), Kragujevac, Republic of Serbia, 9-10th November 2018, Published by IEEE.
  17. Muller, H., Seifert, M. Blockchain, a Feasible for Land Administration?”. In FIG Working week 2019 Geospatial information for a smarter life and environmental resilience, Hanoi, Vietnam, April 22-26, 2019, Available at: https://www.fig.net/resources/proceedings/fig_proceedings/fig2019/papers/ts01i/TS01I_seifert_mueller_10110.pdf.
  18. Khan, S., Shael, M., Majdalawieh, M., Nizamuddin, N., Nicho, M. Blockchain for Governments: The Case of Dubai Government. Sustainability 2022, 14, 6576, DOI: 10.3390/su14116576.
  19. Desai, H., Kantarcioglu M., Kagal, L. A Hybrid Blockchain Architecture for Privacy-Enabled and Acccountable Auctions. In 2019 IEEE International Conference on Blockchain (Blockcchain), 2019, pp. 34-43, Atlanta, USA, DOI: 10.1109/Blockchain.2019.00014.
  20. Nyaletey, E., Parizi, R.M., Zhang, Q., Choo, K.K.R. BlockIPFS – Blockchain-Enabled Interplanetary File System for Forensic and Trusted Data Traceability. 2019 IEEE International Conference on Blockchain (Blockchain), 2019, pp. 18-25, DOI: 10.1109/Blockchain.2019.00012, Published by: IEEE, Online ISBN: 978-1-7281-4693-5, Print ISBN: 978-1-7281-4694-2.

Article full text

Download PDF