Beware of the 100% fair fight! Blockchain Voting Solutions are on the way!

Elections and voting system emblematizes the freedom, democracy, hopes, a changeover and responsibilities of a citizen all as a whole! We are in demand to trust politicians, electoral systems, and the entire backend team who is deciding the future of the country for the next generation blindly. But, the real fact is the whole system happens behind, and there is no transparent system for the voting process even in developed countries.

Before entering into blockchain voting platform development for your country, you must know the splendid features it can revamp in the existing electoral system.

Here’s what blockchain technology is all about!

Blockchain-Is it as simple as public land ledger?

Blockchain is the distributed ledger technology that consists of data blocks that are cryptographically sealed. The chain of data blocks is stored in chronological order after the verification process by the nodes of the blockchain network. All the participants of the blockchain network work with a consensus mechanism that drives the community with appropriate decisions.

Paradigm features of blockchain tech that can be beneficial to the electoral system!

●     Immutable votes stamped by citizens,

●     Decentralized network,

●     Transparent network,

●     Trustless system,

●     Cryptographically secure data,

●     Smart contracts,

●     Peer-to-peer voting lines,

●     No single point of failure,

●     Accuracy of votes,

●     Only verified ballots are considered.

Sure, this bundle of features would attract the citizens who are striving for a better world of democracy. Let me snipe you the top 3 benefits of the blockchain-based voting system!

Reaps of blockchain voting solutions

Fair Fight of leadership

The blockchain-enabled electoral process helps the participants to cast their verified votes from any part of the world. Instead of standing in long queues, oversea travels, fraudulent votes, people can easily submit their ballot votes at fingertips using blockchain. If there are 100% verified votes stamped for the democratic electoral process with real-time results, that’s the day when blockchain voting solutions are implemented!

Strictly verified votes

Once the registered participants of the country cast the votes, it is not directly taken into account. The nodes of the blockchain network, for instance, authoritative electoral officials verify the votes and then add them as the data block. This can pave the way for your original votes! One citizen, one vote! It’s in the near future of the blockchain era.

Rigid, immutable votes & results

As the blockchain tech itself is built with immutability, votes stamped also becomes irreversible. The whole transaction happens to be in P2P and hence no middle men counting or verifying the votes. With the complete immutability, results and votes of the electoral system are irreversible.

No other recounting because of threats by opponent parties!

Final stamps on blockchain in voting!

Trust has now become trustless!

You need not trust any of the backends team processing your votes in the electoral system that decides your country’s leadership anymore. With blockchain, the electoral system becomes transparent, immutable, secure, and trustless.

Let’s have a latte talk for the betterment of the democratic world!

How Can Blockchain Transform Our Voting System?

Blockchain for voting is a budding idea that can eliminate issues in the current voting method and aid in establishing a fraud-free voting system.

Introduction

Without hesitation, one can assure blockchain is an unrivaled technology. Blockchain proved its efficiency in the most popular cryptocurrency, Bitcoin. Bitcoin started to dominate fiat currencies in recent years, and because of that, the technology behind its development also began to achieve greater heights. Developers from across the globe derived the impact that blockchain technology could create and are racing to develop new blockchain use cases.

Adoption Of Blockchain Technology

People who understand the aspects of blockchain technology are describing that the tech’s fundamental value lies in its ability to enhance existing systems. Blockchain voting companies and business owners saw the real potential of the blockchain technology from square one since Bitcoin proved a more secure and transparent payment system - for payment processing and banking solution than the traditional ones. One of the dynamic areas where blockchain can prove its integrity is Digital Voting.

Difficulties with the Current Voting System

Through different voting measures were adopted, the current systems are widely stuck in the last century. People who wanna vote must come out of their homes & cast their votes in a local center. Many ideas were put forth to make the voting process digital. But due to a large number of gaps in terms of security, it seems difficult to add trust in the results.

All kinds of data transmission, including financial transactions, work with blockchain. Blockchain-based infrastructure is capable of replacing the current voting system with an effective one.

Blockchain Voting System Is Really A Boon!

Looking at its raw form, we can surely say that blockchain is a digital distributed ledger. The technology derives its potentiality from the nodes on the network to verify, audit, and record all kinds of transactions across the predefined system. The ledger is not actually stored but rather is available on a chain reinforced by millions of nodes at the same time. Blockchain’s transaction database can’t be corrupted or hacked and each record can be verified quickly with ease, thanks to the concepts of decentralization and encryption.

Blockchain can solve lots and lots of problems discovered in online voting recently. A blockchain-based voting application does not rely on the internet's security measures, because hackers with open access to the portal cannot affect other nodes. Voters will be able to submit their vote effectively without exhibiting their personal identity or political preferences. After that, officials can count the number of votes with absolute certainty, knowing that each identity represents only one vote, no fake IDs can be created, and also tampering is impossible.

Weaving blockchain in real estate industry vanishes the stains of duplicate, fraudulent ownerships! Dig deeper!

Blockchain may be the technology that is underlying with cryptocurrency. But the splendid features of blockchain can revamp the entire world with a decentralized, transparent, trust-free community of sectors.  Enhancing blockchain in real estatesector can make the community of traders hassle-free!

Blockchain enables peer-to-peer transactions and community people verification, hence there are no third parties intervening in the network for any of the processes.  Blockchain enriched smart contracts are a real boon to the real estate eco-system. Let’s dig deeper into the concepts of smart contracts and their process!

What are smart contracts?

Smart contracts are a piece of computer protocol that performs a certain task on completion of specified conditions. Real estate has a transfer of ownership of properties through traditional paper agreements. Instead, the digitalized smart contracts can prevent fraudulent traders of duplicate properties. Frauds can happen in human inspections or intervention, but with completely digitalized,automated ownership transfer, the piece of code verifies the ownership reputation and property details, thereby avoiding fraudsters in the real estate community. 

You may wonder how are these smart contracts automated for transferring ownership of assets! Let me connect you with a real-time instance for the smart contract process!

How do smart contracts work?

The smart contract process can be compared with our favorite vending machines that deliver snacks at our hands. Just rewind back the things you would do in the vending machines for buying a snack!

You would put the coins into the socket provided in the machine and then select the snack of your choice with code displayed. Once the vending machine accepts your payment, the snack is transferred to you via the tunnel at the bottom. It may look simpler! But, did you ever thought some machine would vend you snacks without human intervention? 

It happened, right? Similarly, smart contracts are a self-executing protocol that transfers assets or the property of the seller to the buyer when money or equivalent currency is transferred. With smart contracts in the real estate sector, fraudulent traders can be banned. As the entire network has the accessibility to view the transaction of assets, if the property is not legitimate, nodes of the network will deny the transaction. Followed by dispute resolution action by the administrators of the real estate ecosystem would happen in the process!

Much smarter asset transactions to come on the way!

Sure, you’d have connected the smart contract processes to your daily life. Blockchain in real estate industry is a real boon for decentralized, trust-free trading of properties!

You’d remember smart contracts when you scan through the vending machines next time! If yes,drop us a line! 

This is what makes real estate more powerful in the future! Blockchain for real estate has arrived!

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The real estate environ is entirely complex and people are striving to make it simple as much with the possible technologies. Blockchain for real estate is one such experiment that has gained lots of attraction among the people. 

Real estate has adopted many concepts from the blockchain technology like DApps, smart contract to leverage the features of technology and make the lives of people easier. Let’s explore how blockchain and real estate are twinned together to make a better real estate ecosystem!

What is blockchain? 

Blockchain is the distributed ledger of transactions that are recorded in chronological order. In the blockchain network, there is no third parties intervention even for verifying the transactions. Authorized nodes of the blockchain network verify and approve transactions across the network and get rewarded for their time and efforts. 

Blockchain is for real estate and is made from key concepts of the real estate process. Every transaction of the land or property is recorded in the government ledger with the details of transaction, ownership, timestamp and other mandates. Anybody can check the previous transactions of the land through Encumbrance Certificate(EC) in the current scenario and check the reputation of the seller, ownership of the property and much more. .

Now that you can agree with the fact that blockchain is born from real estate! Numerous blockchainsolutions for real estate has been discovered over the years, let’s peep through them!

Blockchain Solutions for Real Estate

Blockchain integration with the real estate sector has legitimated the existing process and paves the way for hassle-free asset transactions. As the property or asset transactions are decentralized and transparent, people can easily find out the fraudulent sellers, scams occurring in the real estate environment. 

Real estate has kick-started to adopt the basic features of blockchain technology. Here’s the checklist of technology that would rule the real estate world!

Smart Contracts

Smart contracts are self-executing computer protocols that perform a certain task automatically on satisfying the specified condition. Real estate can take up smart contracts technology and create a dispute free ecosystem.

Cryptocurrency Payments

Adopting crypto payments in the real estate industry can shatter the cross-border payment restrictions and processing time for bulk payments. 

DApp

Decentralized Application can provide legitimate information on ownership of assets, deals, mortgages and much more. DApp for real estate can help attain consultations and legal clearance of the assets with verified details of the property.

Deals are at your table!

By now, you could have gained the ins and outs of blockchain technology and their use cases for the real estate sector. First comes; wins first!

Be the earliest in the real estate sector to adopt blockchain technology! Let’s talk with a latte on live chat or Telegram!

Why Blockchain is a must for the real-estate industry?

Why Blockchain is a must for the real-estate industry?

Real estate is one of the high-yielding industries when spoken about investments. Having said that, it has huge chaotic and unorganized procedures. It is not easy to bring everything on the right track overnight. However, everything can be brought to normalcy and under proper order if Blockchain is implemented. 

When speaking about Blockchain and the smart contracts, I need to be sure that you understand its basics. So, here you go. 

What is Blockchain?

Now let's think of using google spreadsheet. The sheets are made up of rows and columns. Every row and every column can be broken down to cells. Now the information we enter is stored in the individual cells. The whole sheet is shared in a group, where every member holds a copy.

Now let's switch to Blockchain. Here all the information is stored in the blocks (cells). These blocks as a whole (sheets) are shared among the nodes (group). So, every node has a copy of the information shared so far. It is tamper-proof and can never be manipulated.

What are the attributes of Blockchain?

Immutability

Anything recorded on the Blockchain is immutable and can not be edited at any cost. Not even by the admin who recorded, neither by the nodes that verify the transactions. 

Consensus

For a transaction to be considered valid, all the nodes have to agree with it. If not, the transaction becomes invalid. This way, the block gains more trust, and invalid transfers are avoided. 

Peer-to-peer

Blockchain allows peer-to-peer communication, transaction, and a lot more. Third-party involvement is entirely null, and the whole process becomes a lot simple and easy.

What are the blockchain solutions for real estate?

Real estate industry is in many ways unorganized, chaotic, and opaque. Blockchain is the mandatory solution one would need to keep everything on track. The numerous irreplaceable attributes of Blockchain make it the best solution for this particular industry.  

Here is the list of challenges that the real estate industry faces and the respective blockchain-solution.

• Transparency

The involvement of intermediaries makes the process less transparent and more complicated. The main reason is the intermediaries planning to mint extra cash when negotiating between the parties. When needs and the negotiations are carried out on the blockchain platform, the process is simple, immutable, and transparent.

• Cross-border transactions

Charges levied for transactions across the borders is huge. Also, it is time-consuming. It requires both the parties to add the account and then conduct the transfer. In Blockchain, the two parties only have to match the keys, and then the transactions take place.

• Finality

Of the entire transactions that take place, to know who owns what, there is only one place to go -- the ledger. Any details can be taken from the ledger. Also, anything once registered is there to stay. This attribute of the Blockchain comes handy for the real estate industry when recording land titles.

I hope you understood why Blockchain is a must when it comes to organizing the real estate industry. For more details on this topic, keep watching this space.