Collaborative Smart Contracts (CoSC): example of real estate purchase and sale(s)
Yükleniyor...
Dosyalar
Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Springer
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The emergence of blockchain technology has opened up opportunities for innovative solutions in various fields. One of these solutions is the concept of smart contracts(SCs), which can automate the execution of contract terms and conditions. In this paper, we introduce Collaborative Smart Contracts (CoSC), a novel approach that combines the benefits of smart contracts and collaborative decision-making. CoSC allows multiple parties to participate in the contract execution process, enabling a more transparent and fair system. We present an example of the application of CoSC in the real estate industry, specifically in the purchase and sale of properties. Our proposed approach utilizes a consortium blockchain network to create a secure and decentralized environment for CoSC. The CoSC platform facilitates communication, collaboration, and decision-making between the buyer, seller, and other relevant parties involved in the transaction. We evaluate the performance of the CoSC platform in terms of execution time, benefits, and security. With the CoSC platform, an average of 20+% success is achieved in terms of execution time. Our results demonstrate that CoSC is a promising solution for complex, multi-party transactions and can improve the efficiency, transparency, and trustworthiness of the real estate industry. © 2023, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
Açıklama
Anahtar Kelimeler
Collaborative structure, Real estate sales, Smart contracts, Blockchain, Decision making, Network security, Sales, Block-chain, Collaborative decision making, Collaborative structures, Contract decisions, Contract execution, Execution process, Innovative solutions, Real estate industries, Real estate sale, Real-estates, Smart contract
Kaynak
Journal of Supercomputing
WoS Q Değeri
Q2
Scopus Q Değeri
N/A
