Property enrolment is a salient process. There are several escape clauses and issues. The existing system endures the fabrication of land documents which results in a loss of revenue to the government. So, developing a decentralized online registration using blockchain (BC) makes it comfortable for citizens to transfer property, prevents the touting of the same property to various buyers, and also helps the government to monitor and keep track of property movement to prevent money laundering on real estate. The process of automation eliminates the need for more humans to employ and also reduces the need for storage building which is required for storing physical documents. In this chapter, interplanetary file system (IPFS) is used for connecting all computing devices or nodes with the same system files and storing large files effectively. The land is successfully transferred between users after the successful completion of payment. Moreover, the proposed hybrid system does not require nodes to solve complex puzzles and thus reduces the use of high computational energy.
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Blockchain is a decentralized, distributed, tamper proof and immutable ledger which can be used to track transactions, making it secure and transparent. Several blockchain systems may materialize to be similar but they vary a lot in consensus mechanism, it represents how a blockchain persuades requirements and operates. Several blockchain systems may materialize to be similar but they vary a lot in consensus mechanism, it represents how a blockchain persuades requirement and operates (Dahlberg, Pulls, & Peeters, 2016). The imposition of any specific approach using a blockchain system assures the quality and authenticity of the information being used. Several techniques such as hashing, merkle tree, public key and private key cryptography are combined to maintain authenticity in blockchain, Conventional implementation of encryption technique guarantees information protection (Nakamoto, 2009; Sendhil Kumar et al., 2020; Patel, 2014). The idea of blockchain has become a technological revolution and is creating a major impact not only in digital payment but also in every possible sector, from agriculture to gaming industries. Crowdfunding blockchain projects have made it easy for investors to make an open source investment, there are several crypto projects developed in ongoing industries infusing the concept of play and to earn attracting gamers towards the metaverse. The idea of NFT, selling valuable artworks to interested Byers, Usually there would be only one single copy of a unique and famous artwork which could be sold in an auction but the blockchain has made it possible for multiple users to have copyrights over unique artworks, the value of the artwork keeps rising depending on its demand. The supply chain in collaboration with blockchain can lead to better and safe.
Distribution of product from the manufacturer to the end user, when a product has to reach a customer or user from the manufacturer it has to follow a supply chain route. Let’s suppose a Product is manufactured and follows the supply chain route of reaching the nearest transporter for making it reach the wholesale dealer, then from the retail dealer and finally to the customer. Along the path all the arched sets are marked as logs and are created as blocks and made into chains making them immutable, thus creating robustness and authenticity in the shipment of the products. Bitcoin is one of the famous and earliest projects being implemented on blockchain lead to the evolution of cryptocurrencies, which allow exchanges and trades to happen in no time. When a customer deposits money in the bank, the bank uses the customer's money without his knowledge for lending or investment purpose, but cryptocurrencies are only accessed by the user and are not being accessed by someone without the user's knowledge until the user provides his private key. Blockchain provides support in various industries but at the time there are a few cons, cryptocurrencies are virtual currencies that work under the principle of blockchain, there is no governing body for regulation, and quite a few cryptocurrency owners are using it for payment of unlawful substance.
Blockchain works by forming a chain of blocks that are connected in series where each block contains specific information about the transaction. Every block is represented by a unique identification number and manual tampering with the block is not possible. Once payment for a transaction is completed it is then verified and added to the chain, if an intruder wants to change information in the blockchain he needs to change the entire chain, which requires a large amount of computational energy which is merely impossible and thus made to the documentation system tamper proof (Yadav et al., 2021). Blockchain creates trust between anonymous users, allowing them to trade information and exchange values without a need for an intermediary agent. The System must be delivering efficient, secure transactions and must be scaled to make it available to everyone. Research is still going on and millions of blockchain developers are working to convert this software model into real life applications so that exchange can become effortless and there would be no need to rely on third party vendors.