Decentralised Service Allocation using Blockchain

TL;DR

This paper proposes a blockchain-based decentralized system for property and service rental, aiming to increase transparency, robustness, and fairness in the PropTech industry by reducing centralization and enabling IoT integration.

Contribution

It introduces a novel blockchain framework for decentralized property and service allocation, extending PropTech with IoT integration for enhanced transparency and fairness.

Findings

Enhanced transparency in property rentals

Reduced anti-competitive practices

Potential for IoT-enabled service management

Abstract

The growing demand for short-term property renting has led to the boom of a new category called PropTech (Property + Technology). Such a rise in demand attracted many entrepreneurs and investors leading to the inception of powerful and centralised players in the category (like Airbnb). Unfortunately, some big players are controlling the entire industry in a centralised way in turn, performing anti-competitive practices which leave no room for the small players. Such an ecosystem can be made more transparent and decentralised by executing transactions and order-fulfilment on a blockchain. To extend the functionality of the system, we can also perform the renting of small services and appliances via the integration of IoT. Implementing such a system will make the process more transparent, robust and decentralised.