Blockchain-based Rental Documentation Management with Audit Support

• URL: http://arxiv.org/abs/2402.06704v1
• Date: Fri, 9 Feb 2024 09:57:49 GMT
• Title: Blockchain-based Rental Documentation Management with Audit Support
• Authors: Jo\~ao F. Santos, Miguel Correia, Tiago R. Dias
• Abstract summary: Document management in the rental market is a critical process to ensure the accuracy of financial transactions. In Portugal, the challenges include non-compliance, lack of transparency, and bureaucratic process inefficiency. A solution based on Hyperledger Fabric, a blockchain platform, is presented for the implementation of a document management system.
• Score: 5.128860078407769
• License: http://creativecommons.org/licenses/by-nc-nd/4.0/
• Abstract: Document management in the rental market is a critical process to ensure the accuracy of financial transactions and regulatory compliance in the sector. In Portugal, the challenges include the complexity of legislation, particularly GDPR non-compliance, lack of transparency, and bureaucratic process inefficiency. With this in mind, a solution based on Hyperledger Fabric, a blockchain platform, is presented for the implementation of a document management system for the rental process. This system oversees the rental process, which consists of three phases: the application for a property by the prospective tenant through the upload of necessary documents, acceptance/rejection by the landlord of various received applications, and the creation of a report by the system, which only the auditor can request and view. The system smart contract records metadata associated with the documents (hash, owner) and coordinates requests for file access by landlords to prospective tenants. Thus, the system is responsible for creating immutable and traceable records of the entire process. The underlying platform serves as the foundation for conducting future audits. After the landlord verifies the files and accepts the rental proposal, any authorised auditor can request a report for a property by accessing the records through the final report, which includes all events that occurred during the process.

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