Model for Municipality Buildings Renting Auction on Algorand blockchain

Abstract

Blockchain is one of the vital supportive technologies of smart city services. Thanks to its characteristics, blockchain impacts almost all smart city services. Algorand network started working in 2019. Its speed of transactions and low cost makes it the platform of choice for a smart city blockchain implementation. This paper proposes a model for blockchain auction for renting real estate owned by the municipality. This service is part of the overall smart city services and relies heavily on other smart city governance services like identity information management, land register, and others. Implementing such a system simplifies the process of land and real estate management in the smart city making it more transparent. It lowers the costs and increases the income municipality earns from renting the asset.