9. Application of Blockchain Technology for 7/12 Asset Tracking System

A blockchain is an emerging technology in the age of the Internet and is employed in different areas such as fintech, healthcare, finance, pharmaceuticals, insurance, and digital security. A blockchain is an emergent list of registers termed as blocks that are connected utilizing cryptography. In the state-of-the-art system, the dealing of legal property documents for buying and selling property is accomplished through the government offices. However, these systems result in various frauds due to the middle intermediaries and also have to pay for lawyers. The government had started many applications for finding the property, but in nature, these systems are very complex. In this chapter, we have proposed the 7/12 asset tracking system using blockchain technology. This system is developed to monitor, enhance, and develop secure, trustless, and fraud-free property document handling. In this work, we have designed a shared organization where non-believing mediators can collaborate without a trusted intermediary. In this work, we have proposed a secure system and provide distributed data on the computer of every customer. This will help find the legal property papers and avoids the need for any third parties for property deals in between. This system will tap the fingerprint of the person who was going to sell a property, and the customer will have access to the server. All the property information is going to be displayed using a centralized system in government offices. Finally, this system provides secure and fraud-free handling of property documents.