Block Chain Application Technology to Improve Reliability of Real Estate Market

Abstract

After Bitcoin was proposed by Satoshi Nakamoto in 2009, studies have been carried out to apply the Block Chain technology in various environment, which was applied as a distributed transaction of Bitcoin. Smart contracts, voting and proof of ownership of digital contents are typical applications of Block Chain. They used the feature that it is impossible to modify or delete once recorded facts. They also applied to prove relevant facts and to provide data integrity. The applied cases are mainly made in an environment where the data should or could be open to the public, and they have been proposed as solutions to solve the problems occurred in relations. This fact has led to the attention that Block Chain can be applied as a good alternative in similar circumstances. In this study, real estate market service was selected to expand the application range of Block Chain. Although there are about 250 applications and web services in total, the satisfaction is not high due to false offerings. Thus we propose a countermeasure against the problem by applying the Block Chain to the real estate market service, and investigate the research direction of the Block Chain in the future market.