eprintid: 20064
rev_number: 2
eprint_status: archive
userid: 1
dir: disk0/00/02/00/64
datestamp: 2024-06-04 14:19:48
lastmod: 2024-06-04 14:19:48
status_changed: 2024-06-04 14:16:31
type: article
metadata_visibility: show
creators_name: Junaid, L.
creators_name: Bilal, K.
creators_name: Shuja, J.
creators_name: Balogun, A.O.
creators_name: Rodrigues, J.J.P.C.
title: Blockchain-Enabled Framework for Transparent Land Lease and Mortgage Management
ispublished: pub
keywords: Big data; Blockchain; Crime; Distributed ledger; Information management; Interactive computer systems; Transparency, Block-chain; Fraud; Government; Loan and mortgage; Mortgage; Real - Time system; Security; Stakeholder; User involvement, Real time systems
note: cited By 0
abstract: A land administration system (LAS) is a structured framework designed to govern the management of land resources in a specific region or country. However, LAS faces challenges like inefficiencies, a lack of transparency, and susceptibility to fraud. The digitization of land records improved efficiency but failed to address manipulation, centralized databases, and double-spending issues. Traditional lease and mortgage management systems also suffer from complexity, errors, and a lack of real-time validation. At present, a significant influx of land transactions produces substantial data, classifiable as big data due to constant minute-to-minute occurrences like land transfers, acquisitions, document verification, and leasing/mortgaging transactions. In this context, we present a Blockchain-driven system that not only tackles alteration and double-spending issues in traditional systems but also implements distributed data management. Current state-of-the-art solutions do not fully incorporate crucial features of Blockchain, such as transparency, prevention of double-spending, auditability, immutability, and user participation. To tackle this problem, this research introduces a comprehensive Blockchain-powered framework for lease and mortgage management, addressing transparency, user involvement, and double-spending prevention. Unlike existing solutions, our framework integrates key Blockchain characteristics for a holistic approach. Through practical use cases involving property owners, banks, and financial institutions, we establish a secure, distributed, and transparent method for property financing. We verify the system by employing smart contracts and assess the cost and security parameters while validating the blockchain-based mortgage and lease functions. © 2013 IEEE.
date: 2024
publisher: Institute of Electrical and Electronics Engineers Inc.
official_url: https://www.scopus.com/inward/record.uri?eid=2-s2.0-85190354888&doi=10.1109%2fACCESS.2024.3388248&partnerID=40&md5=123812b04bc0fdfce08f896db0228f9c
id_number: 10.1109/ACCESS.2024.3388248
full_text_status: none
publication: IEEE Access
volume: 12
pagerange: 54005-54018
refereed: TRUE
issn: 21693536
citation:   Junaid, L. and Bilal, K. and Shuja, J. and Balogun, A.O. and Rodrigues, J.J.P.C.  (2024) Blockchain-Enabled Framework for Transparent Land Lease and Mortgage Management.  IEEE Access, 12.  pp. 54005-54018.  ISSN 21693536