The current property management system has a couple of problems which are as follows:

  • Forgery
    • The paper document used in property registration might be counterfeited, posing a serious danger to the proprietor. The property owner has a risk of losing his or her property during registration or transfer.
  • Human error
    • During the property registration procedure, there is a lot of human involvement. Eventually, this results in a huge number of human errors.
  • Wear and tear of documents
    • Printed property papers, as we all know, do not endure more than a decade if not properly kept. Most traditional papers are unrecognisable as a result of this wear and tear.
  • Traceability
    • In most cases you can only find out who the current owner is by looking at paper records. It prevents us from discovering who else owned the property previously.

So we created a secure & decentralized way of managing property records using blockchain technology.

What it does

  • SolProperty is a decentralized application that manages people's property records.
  • It stores all the property records along with it's ownership & other details on blockchain for transparency, immutability & safety.
  • It enables zero fraud property transfers between two parties maintaining high integrity & trust. Property transfers on this application are simple, fast & secure.
  • The application also has a unified property marketplace where people can come and check the details of a particular property and raise a buy request hence eliminating intermediaries.

How we built it

SolProperty is powered by Solana blockchain network which is fast, low cost & scalable, forever.

It is a decentralized application which uses smart contracts (Solana Programs), built using Rust & Anchor framework. The smart contract is a stateless program that is deployed to solana blockchain network that contains the core logic of managing the property records.

The frontend application is built using React, JavaScript & ChakraUI framework which interacts with the smart contract deployed on solana blockchain network and enables users to efficiently use our application to manage property records.

Challenges we ran into

  • In the smart contract (solana program) we needed to store a map of objects for storing property details. But the challenge we faced there was that the anchor framework had limited support for map of objects inside account object and did not fulfill our usecase. So to resolve it we had to adopt a much complex data structure to solve our usecase.
  • While building & deploying the smart contract (solana program) we faced multiple issues where the program was not getting built properly and we had to try out different platforms (Win, Linux & Mac) to build it successfully. Post deployment also we faced multiple issues during initialization of the program.
  • We also faced multiple headwinds due to lack of adequate documentation.

Accomplishments that we're proud of

Being able to successfully build the decentralized application (Dapp) on top of Solana blockchain using Rust & Anchor framework, even though none of us had any prior experience working on any of these.

What we learned

  • We learnt the unique working mechanism of Solana blockchain and it's consensus algorithm of proof of history using which it makes itself very fast and scalable.
  • We learnt how to build smart contract (solana program) on Solana blockchain using Rust & Anchor framework.
  • We learnt how to integrate a frontend application with a smart contract (solana program) so that it can interact with it and create decentralized application (Dapp).

What's next for SolProperty

  • To scale up the Dapp to actually implement it in some country/region to solve this critical problem of managing property records.
  • To integrate property images and other documentation into property details.

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