Blockchain-integrated Smart City Services and Real Estate: Creating Synergies for Seamless and Transparent Property Transactions

Abstract

Integrating blockchain technology with smart city services poses significant challenges due to the complexity and diversity of the systems involved, particularly in the real estate sector, where solutions often operate in isolation, disconnected from other urban services. This isolation limits the potential benefits of a fully integrated smart city. Blockchain, with its secure, transparent, and decentralized nature, offers an ideal solution for bridging these gaps and creating a unified ecosystem. This study proposes a smart living ecosystem based on blockchain. The proposed ecosystem outlines the technical requirements, governance structures, and stakeholder roles necessary to achieve seamless interoperability across diverse urban services with a focus on real estate. According to a proposed ecosystem, a decentralized application (dApp) is developed, integrating real estate transactions with real-time pollution monitoring data in the smart city. This dApp demonstrates the feasibility of the ecosystem and shows the advantages of incorporating environmental data into property transactions, enabling a more informed and transparent decision-making process in trading with real estate for users.