Real estate is by far one of the most trusted investments that people have preferred, being a lucrative investment it provides a steady source of income in the form of lease and rents. Although there are numerous advantages, one of the key downsides of real estate investments is lack of liquidity. Thus, even though global real estate investments amount to about twice the size of investments in stock markets, the number of investors in the real estate market is significantly lower. Block chain technology has real potential in addressing the issues of liquidity and transparency, opening the market to even retail investors. Owing to the functionality and flexibility of creating Security Tokens, which are backed by real-world assets, real estate can be made liquid with the help of Special Purpose Vehicles. Tokens of ERC 777 standard, which represent fractional ownership of the real estate can be purchased by an investor and these tokens can also be listed on secondary exchanges. The robustness of Smart Contracts can enable the efficient transfer of tokens and seamless distribution of earnings amongst the investors. This work describes Ethereum blockchainbased solutions to make the existing Real Estate investment system much more efficient.
The Six Biggest Blockchain Trends Everyone Should Know About In 2021Bernard Marr
Blockchain has been one of the most talked-about tech trends of the last few years. As with many other trends that were important before the pandemic hit, it didn't make as many headlines in 2021 as it has done previously. But development has been ongoing and the year saw continued adoption of the technology throughout many industries and sectors.
The FinTech 2.0 Paper: rebooting financial servicesEdwin Soares
This document discusses the potential for collaboration between banks and financial technology startups (fintechs) to realize "Fintech 2.0". It argues that fintechs have succeeded in certain areas like payments and lending by having fewer regulations, lower costs, and a more digital focus than banks. However, to fundamentally change banking, fintechs must work with banks which have advantages like existing customers, brands, and regulatory expertise. The document outlines opportunities for collaboration between banks and fintechs in areas like using data from the Internet of Things, analyzing "smart data", implementing distributed ledger technology, and creating frictionless processes. It concludes that both banks and fintechs will benefit most from cooperation rather than competition to realize the
The Blockchain Imperative: The Next Challenge for P&C CarriersCognizant
Blockchain, a universal ledger and data-storage platform, can help P&C carriers address some of their most critical business challenges and significantly alter the way they operate. Although the technology has yet to achieve widespread adoption in the insurance space, the time is ripe for carriers to begin thinking about, exploring and experimenting with blockchain.
The payments and currency systems are on the verge of disruption. Payments are getting digitized and going mobile, wearable and biometric, while the rise of cryptocurrencies is prompting new ideas about what currency can be. Millennials, not wedded to the status quo when it comes to money, will drive this shift. This report takes a look at the myriad new ways to pay and how the concept of currency is evolving to encompass everything from bitcoin to social media shares. We also spotlight how disruption is opening the way for new players to act as middlemen between consumers and their money, along with results of a survey exploring U.S. and U.K. consumer attitudes toward payments and currency.
Note: This is an abridged version of the 62-page report. Go to JWTIntelligence.com/trendletters to download the full report at no cost.
To win against non-traditional competitors, retail banks must streamline operations and create innovative products and services, based on mobile, social and analytics technologies.
Use cases of Blockchain for Wearable Devices. A compilation of the use cases of IoT (Internet of Things) and Blockchain Technology for Wearable Technology. These can be utilized for payments, healthcare, entertainment and advertisement.
Technology Forecast - Driving Growth With Cloud ComputingPier Paolo Mucelli
This article discusses how cloud computing can enable companies to become an "extensible enterprise" and unlock new business growth opportunities by making internal capabilities available to external partners and customers. It provides the following examples:
- Automatic Data Processing (ADP) leveraged cloud computing to integrate more deeply with ecosystem partners and offer their payroll services to a wider range of customers, allowing them to maintain revenue stability during an economic downturn.
- Amazon Web Services (AWS) used modular cloud services to build a business model where they offer internal infrastructure capabilities to external customers, creating a large new revenue stream.
- Cloud computing allows companies to encode internal business services into software and provision them in the cloud, opening them up to third
The document provides a technology forecast for the mobile industry. It begins with defining the industry and its key segments. It then analyzes the industry's history, growth, market dynamics, trends, and strategies. Technological challenges are identified for major trends like apps, interfaces, displays, energy monitoring, processing speed, and keyboards. The analysis includes a future wheel, relevance tree, structural analysis, cross-impact analysis, roadmap, and wild cards to forecast short and long-term technologies. Key points of uncertainty are the development of new battery, display, and storage technologies.
Cryptocurrencies and blockchain tech in general have the potential to make machine to machine (M2M) payments very efficient. This talk explores different angles of M2M payments in the internet of things (IoT). Presented at Blockchain Week IoT conference, Barcelona, 6 Oct 2015 and M2M Digital Curreny Summit London, 17 Mar 2016.
apidays LIVE India - Banking Redefined - Decoding the API era for Indian bank...apidays
apidays LIVE India 2021 - Connecting 1.3 billion digital innovators
May 20, 2021
Banking Redefined - Decoding the API era for Indian banks
Aishwarya Jaishankar, Co-founder of Hyperface Technologies
The marketing opportunities in the internet of things (iot)OgilvyOne Worldwide
More objects are becoming embedded with sensors
and gaining the ability to communicate.
The resulting information networks promise to
create new business models, improve business
processes, and reduce costs and risks.
In what’s called the Internet of Things, sensors and
actuators embedded in physical objects—from
roadways to watches—are linked through wired and
wireless networks, often using the Internet.
Digital banking in India - Operation, Payments and ClearingSupratik Nag
This document discusses digital banking in India. It provides an overview of digital banking products and services, the evolution of digital banking and payments in India from 1980 to present, and emerging technologies behind digital banking. It also analyzes the digital banking landscape and ecosystem, maturity models for digital transformation, and the future of digital payments in India with innovations like UPI and Bharat QR expected to significantly reduce cash transactions by 2022.
Given the divergence of scenarios that the economy could chart, technology is likely to be the single most important factor to help organisations sail through the chaos swiftly. Although most technologies required to drive innovation are widely available and quite mature, banks and nbfcs will need to find creative ways to use these technologies to overcome the challenges posed by the pandemic. See More: https://www2.deloitte.com/in/en/pages/financial-services/articles/in-fs-digital-innovations-for-retail-and-sme-banking.html
Mobile Wallet and payment applications are poised to change the way consumers pay. This is driving substantial investment in the space with over $700 million flowing into private companies over the past three years and an estimated $1 billion into corporate initiatives and JVs like ISIS, MCX, Google Wallet, and PayPal mobile.
This report takes an in-depth look at how the industry landscape is evolving and some of the key trends driving innovation.
Future of mobile payment and mobile commerce may 2013Tarang Shah
1) The document discusses the future of mobile payment and mobile commerce, noting that the future is mobile as major players are creating mobile-first experiences aimed at mobile commerce.
2) It outlines that key drivers of mobile commerce include strong smartphone penetration, and that mobile commerce growth will outpace e-commerce growth in the coming years. Mobile payment is also expected to become a large $400 billion market by 2015.
3) Recent investments and mergers and acquisitions in the mobile payment and commerce space indicate growing interest and momentum, though the market is still evolving as business models and infrastructure develop.
Digital” is the new buzz word in the banking sector, with banks all around the globe hopping onto the digital bandwagon. Banks of all sizes are making sizeable investments in digital initiatives in order to maintain a competitive edge.
There are four main business models for mobile financial services:
1) Bank-centric model where a bank deploys mobile payment applications and ensures merchant point-of-sale acceptance. Payments are processed over existing financial networks.
2) Operator-centric model where a mobile operator independently deploys mobile payment applications to devices and may integrate charges into wireless bills or use prepaid stored value.
3) Peer-to-peer model where an independent provider enables secure mobile payments between customers or customers and merchants without using traditional payment networks.
4) Collaboration model involving partnerships among banks, mobile operators, and other stakeholders managed by a potential third party to deploy mobile applications.
How Banking as a Service Will Keep Banks Digitally Relevant and GrowingCognizant
To contend with insurgent competitors, regulatory mandates and demanding consumer requirements, banks must embrace open APIs that enable them to plug-and-play in the digital business ecosystem and reinforce their value proposition amid escalating share-of-wallet challenges.
Real estate is by far one of the most trusted investments that people have preferred, being a lucrative investment it provides a steady source of income in the form of lease and rents. Although there are numerous advantages, one of the key downsides of real estate investments is lack of liquidity. Thus, even though global real estate investments amount to about twice the size of investments in stock markets, the number of investors in the real estate market is significantly lower. Block chain technology has real potential in addressing the issues of liquidity and transparency, opening the market to even retail investors. Owing to the functionality and flexibility of creating Security Tokens, which are backed by real-world assets, real estate can be made liquid with the help of Special Purpose Vehicles. Tokens of ERC 777 standard, which represent fractional ownership of the real estate can be purchased by an investor and these tokens can also be listed on secondary exchanges. The robustness of Smart Contracts can enable the efficient transfer of tokens and seamless distribution of earnings amongst the investors. This work describes Ethereum blockchainbased solutions to make the existing Real Estate investment system much more efficient.
This document discusses decentralized finance (DeFi) and how it differs from traditional finance. Some key points:
1. DeFi uses blockchain technology and smart contracts to create decentralized applications that provide financial services without intermediaries like banks. This aims to make finance more transparent, accessible and trustworthy.
2. Core components of DeFi include blockchains, digital assets, wallets, smart contracts, decentralized applications, and governance systems. Popular DeFi services include exchanges, lending/borrowing, derivatives, and wealth management.
3. DeFi differs from traditional finance in that it is decentralized rather than relying on centralized intermediaries, aims to be more transparent and accessible globally, and uses innovations like cryptocurrencies and
ImpInv.io - Next-gen digital Impact Investing; powered by Blockchain technologyFloyd DCosta
The document discusses how blockchain technology can empower a decentralized impact investing ecosystem. It introduces ImpInv.io, a next-gen digital impact investing platform powered by blockchain. ImpInv.io will address key issues like transparency, trust, and liquidity challenges by tokenizing impact investment products and facilitating their issuance, management, and trading. This will help unlock more impact investment capital and drive mainstream adoption of impact investing.
VIVA Investment Partners Briefing Number 1 - Digital Securities w/Tal ElyashivJulie Meyer
Tal Elyashiv, the founder and Managing Partner of SPICE VC, the leader in investing in the digital securities ecosystem and tokenised assets, gives an overview of the investment landscape that SPICE and he have pioneered.
There are opportunities for blockchain in many facets of commercial real estate transactions including property and title searches, financing, leasing, purchasing and selling, due diligence, managing cash flows, and payment management, including cross-border transactions.
In this document we focus on the the use cases and merits as pertinent to raising capital via Digital Initial Public Offering.
Wave Financial + TQ Tezos: State of Digital Securities Tom Lombardi
Wave Financial recently authored a report on the state of digital securities in conjunction with TQ Tezos - a leading institutional-grade blockchain solutions developer with a focus on security and durability across technological generations.
Digitizing securities through blockchain technology can enable cost savings, economic value creation, and risk reduction. While the digital securities ecosystem is quite nascent, early examples from financial heavyweights like Santander and Franklin Templeton indicate that the potential benefits around compliance automation and cost reduction may be the driving forces of broader adoption.
In this report, we explore the advantages of digital securities, the global regulatory landscape, current challenges hindering widespread adoption, and leading digital securities initiatives.
DIGITAL STOCKS USING BLOCKCHAIN TECHNOLOGY THE POSSIBLE FUTURE OF STOCKS?IAEME Publication
Bitcoin is the first and most successful digital currency in the world. It trends in
the news almost daily, with glowing reviews of the many benefits of an alternative and
international currency. This paper explains the innovative aspect of the technological
platform used to transfer Bitcoin from one party to another. This technology is called
the Blockchain. The Blockchain eschews a bank or other intermediary and allows
parties to transfer funds directly to one another, using a peer-to-peer system. This
disruptive technology has done for money transfers what email did for sending mail —
by removing the need for a trusted third party just as email removed the need for using
the post office to send mail. This technology mainly used for peer-to-peer money
transfers, can also be extended to accomplish other forms of transfers. Blockchain
technology can be used to buy and sell stocks. Real world stocks can be tokenized into
digital stocks which can be easily transferred using peer-to-peer. These digital stocks
act similar to digital currency whose price is real time and fluctuates. Stocks
exchanged completely peer-to-peer could resolve many of the issues facing the stock
market today, including high frequency trading and short sales.
The document discusses distributed ledger technology and blockchain, including public vs private distributed ledgers and common use cases. It also summarizes consensus mechanisms, smart contracts, types of cryptocurrencies, SEC regulation of cryptocurrencies as securities, and litigation from the SEC regarding initial coin offerings. Key topics covered include the Howey test for determining if a digital token is a security, registration requirements for security tokens and exchanges in the US, and characteristics that may indicate a cryptoasset is an investment contract and security.
The document provides an overview of the regulation of cryptoassets. It discusses distributed ledger technology and blockchain, the differences between public and private distributed ledgers, common use cases for blockchain technology, consensus mechanisms, smart contracts, types of cryptocurrencies, SEC regulation of security tokens and initial coin offerings (ICOs), CFTC regulation treating virtual currencies as commodities, and notable SEC and CFTC enforcement actions.
1) The document discusses a project by the OECD to analyze the implications of proliferating tokenization of assets for financial markets. It aims to understand benefits and challenges, disruptive effects, and policy implications.
2) Tokenization refers to using blockchain or distributed ledger technology to issue tokens representing ownership of real-world assets. This could streamline clearing and settlement by reducing intermediaries.
3) Tokenization may improve liquidity for illiquid assets and increase retail access but also risks market fragmentation and gaps in regulation. Policymakers should address potential issues and facilitate standardization where tokenization provides clear benefits.
As a recent example from Switzerland, a tighten regulatory corset was imposed on the financial market players due to financial crisis in the country. Hence we can witness a structural fundamental change in the country due to parallel digitalisation and accelerated competetion in the new technologies. This has led to an explosion of opportunities in the small business sectors. Amongst other factors, Distributed Ledger Technologies (DLT), which enable new forms of digital transactions, offer a large potential for new business opportunities.
Cross Border Blockchain Equity/Capital Market Services And Compliance: Presen...InterCon
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This document proposes the Nousplatform and protocol for generating and managing crypto asset investment funds using blockchain technology. It outlines obstacles currently facing the investment industry like lack of transparency, high fees, and minimum investment amounts. The Nousplatform aims to address these issues by allowing swift creation of investment funds on the blockchain with tools for transparent management and accountability. This will provide benefits to both fund managers and investors by simplifying the investment process and increasing transparency.
Decentralized Finance Catalysts of Transforming the Financial Servicesamanraza23
Unleash the revolution: Decentralized Finance, the unstoppable force reshaping financial services through blockchain innovation, democratizing access, and challenging traditional systems with limitless potential.
Industralisation of Distributed Ledger TechnologyRodger Oates
This document discusses the industrialization of distributed ledger technology in banking and financial services. It provides an overview of the transformation potential of distributed ledgers, including disintermediation, increased transparency, and standardization. Potentially disruptive use cases are categorized as value ledgers, information ledgers, and timestamp ledgers. Key business considerations for industrialization include reimagining business models, defining operating models for industry solutions, transitioning existing assets onto distributed ledgers, and establishing standards. The document concludes by assessing the prerequisites and roadmap for moving distributed ledger technology towards mainstream adoption in banking.
The document discusses the potential for using blockchain technology to improve bond trading. It finds that:
1) The blockchain could address inefficiencies in the current bond trade lifecycle by offering speed, security, lower risks and costs through distributed ledger technology.
2) There are challenges to implementing blockchain for bond trading related to identification, anonymity, confidentiality, validation, scalability, security, and regulations.
3) Smart contracts can help facilitate integrating blockchain for bond trading.
4) While the technology is still developing, blockchain has great potential to reshape capital markets and business models through increased transparency and reduced costs.
Finra - implications of blockchain for the securities industryIan Beckett
This document provides an overview of distributed ledger technology (DLT) and its potential applications and implications for the securities industry. It discusses DLT applications being explored, the potential impacts on the securities industry, and key implementation and regulatory considerations for broker-dealers relating to FINRA rules. The document requests comments from interested parties on these topics and related matters.
Literature Survey on “Crowdfunding Using Blockchain”IRJET Journal
This document summarizes research on using blockchain technology for crowdfunding. It discusses how blockchain could address issues with existing crowdfunding platforms like high fees and scams by providing a decentralized, transparent, and secure system. Blockchain allows every transaction to be recorded in a distributed ledger and uses smart contracts to automate funding. The document reviews several research papers analyzing the benefits of blockchain crowdfunding systems like ICOs and IEOs over traditional models as well as potential challenges around performance, lack of standards, and unrecoverable bugs. It proposes a decentralized crowdfunding application on the Ethereum blockchain to provide investor protection without a centralized intermediary.
Similar to A Study of Tokenization of Real Estate Using Blockchain Technology (20)
Understanding the Impact and Challenges of Corona Crisis on Education Sector...vivatechijri
n the second week of March 2020, governments of all states in a country suddenly declared
shutting down of all colleges and schools for a temporary period of time as an immediate measure to stop the
spread of pandemic that is of novel corona virus. As the days pass by almost close to a month with no certainty
when they will again reopen. Due to pandemic like this an alarm bells have started sounding in the field of
education where a huge impact can be seen on teaching and learning process as well as on the entire education
sector in turn. The pandemic disruption like this is actually gave time to educators of today to really think about
the sector. Through the present research article, the author is highlighting on the possible impact of
coronavirus on education sector with the future challenges for education sector with possible suggestions.
LEADERSHIP ONLY CAN LEAD THE ORGANIZATION TOWARDS IMPROVEMENT AND DEVELOPMENT vivatechijri
This document discusses the importance of leadership in leading an organization towards improvement and development. It states that leadership is responsible for providing a clear vision and strategy to successfully achieve that vision. Effective leadership can impact the success of an organization by controlling its direction and motivating employees. Leadership is different from traditional management in that it guides employees towards organizational goals through open communication and motivation, rather than simply directing work. The paper concludes that only leadership can lead an organization to change according to its evolving environment, while management may simply follow old rules. Leadership is key to adapting to new market needs and trends.
The topic of assignment is a critical problem in mathematics and is further explored in the real
physical world. We try to implement a replacement method during this paper to solve assignment problems with
algorithm and solution steps. By using new method and computing by existing two methods, we analyse a
numerical example, also we compare the optimal solutions between this new method and two current methods. A
standardized technique, simple to use to solve assignment problems, may be the proposed method
Structural and Morphological Studies of Nano Composite Polymer Gel Electroly...vivatechijri
The document summarizes research on a nano composite polymer gel electrolyte containing SiO2 nanoparticles. Key points:
1. Polyvinylidene fluoride-co-hexafluoropropylene polymer was used as the base polymer mixed with propylene carbonate, magnesium perchlorate, and SiO2 nanoparticles to synthesize the nano composite polymer gel electrolyte.
2. The electrolyte was characterized using XRD, SEM, and FTIR which confirmed the homogeneous dispersion of SiO2 nanoparticles and increased amorphous nature of the electrolyte, enhancing its ion conductivity.
3. XRD showed decreased crystallinity and disappearance of polymer peaks upon addition of SiO2. SEM revealed
Theoretical study of two dimensional Nano sheet for gas sensing applicationvivatechijri
This study is focus on various two dimensional material for sensing various gases with theoretical
view for new research in gas sensing application. In this paper we review various two dimensional sheet such as
Graphene, Boron Nitride nanosheet, Mxene and their application in sensing various gases present in the
atmosphere.
METHODS FOR DETECTION OF COMMON ADULTERANTS IN FOODvivatechijri
Food is essential forliving. Food adulteration deceives consumers and can endanger their health. The
purpose of this document is to list common food adulterant methods commonly found in India. An adulterant is
a substance found in other substances such as food, cosmetics, pharmaceuticals, fuels, or other chemicals that
compromise the safety or effectiveness of that substance. The addition of adulterants is called adulteration. The
most common reason for adulteration is the use of undeclared materials by manufacturers that are cheaper than
the correct and declared ones. The adulterants can be harmful or reduce the effectiveness of the product, or
they can be harmless.
The novel ideas of being a entrepreneur is a key for everyone to get in the hustle, but developing a
idea from core requires a systematic plan, time management, time investment and most importantly client
attention. The Time required for developing may vary from idea to idea and strength of the team. Leadership to
build a team and manage the same throughout the peak of development is the main quality. Innovations and
Techniques to qualify the huddles is another aspect of Business Development and client Retention.
Innovation for supporting prosperity has for quite some time been a focus on numerous orders, including PC science, brain research, and human-PC connection. In any case, the meaning of prosperity isn't continuously clear and this has suggestions for how we plan for and evaluate advances that intend to cultivate it. Here, we talk about current meanings of prosperity and how it relates with and now and then is a result of self-amazing quality. We at that point center around how innovations can uphold prosperity through encounters of self-amazing quality, finishing with conceivable future bearings.
An Alternative to Hard Drives in the Coming Future:DNA-BASED DATA STORAGEvivatechijri
Demand for data storage is growing exponentially, but the capacity of existing storage media is not keeping up, there emerges a requirement for a storage medium with high capacity, high storage density, and possibility to face up to extreme environmental conditions. According to a research in 2018, every minute Google conducted 3.88 million searches, other people posted 49,000 photos on Instagram, sent 159,362,760 e-mails, tweeted 473,000 times and watched 4.33 million videos on YouTube. In 2020 it estimated a creation of 1.7 megabytes of knowledge per second per person globally, which translates to about 418 zettabytes during a single year. The magnetic or optical data-storage systems that currently hold this volume of 0s and 1s typically cannot last for quite a century. Running data centres takes vast amounts of energy. In short, we are close to have a substantial data-storage problem which will only become more severe over time. Deoxyribonucleic acid (DNA) are often potentially used for these purposes because it isn't much different from the traditional method utilized in a computer. DNA’s information density is notable, 215 petabytes or 215 million gigabytes of data can be stored in just one gram of DNA. First we can encode all data at a molecular level and then store it in a medium that will last for a while and not become out-dated just like floppy disks. Due to the improved techniques for reading and writing DNA, a rapid increase is observed in the amount of possible data storage in DNA.
The usage of chatbots has increased tremendously since past few years. A conversational interface is an interface that the user can interact with by means of a conversation. The conversation can occur by speech but also by text input. When a chatty interface uses text, it is also described as a chatbot or a conversational medium. During this study, the user experience factors of these so called chatbots were investigated. The prime objective is “to spot the state of the art in chatbot usability and applied human-computer interaction methodologies, to research the way to assess chatbots usability". Two sorts of chatbots are formulated, one with and one without personalisation factors. the planning of this research may be a two-by-two factorial design. The independent variables are the two chatbots (unpersonalised versus personalised) and thus the speci?c task or goal the user are ready to do with the chatbot within the ?nancial ?eld (a simple versus a posh task). The results are that there was no noteworthy interaction effect between personalisation and task on the user experience of chatbots. A signi?cant di?erence was found between the two tasks with regard to the user experience of chatbots, however this variation wasn't because of personalisation.
The Smart glasses Technology of wearable computing aims to identify the computing devices into today’s world.(SGT) are wearable Computer glasses that is used to add the information alongside or what the wearer sees. They are also able to change their optical properties at runtime.(SGT) is used to be one of the modern computing devices that amalgamate the humans and machines with the help of information and communication technology. Smart glasses is mainly made up of an optical head-mounted display or embedded wireless glasses with transparent heads- up display or augmented reality (AR) overlay in it. In recent years, it is been used in the medical and gaming applications, and also in the education sector. This report basically focuses on smart glasses, one of the categories of wearable computing which is very popular presently in the media and expected to be a big market in the next coming years. It Evaluate the differences from smart glasses to other smart devices. It introduces many possible different applications from the different companies for the different types of audience and gives an overview of the different smart glasses which are available presently and will be available after the next few years.
Future Applications of Smart Iot Devicesvivatechijri
With the Internet of Things (IoT) bit by bit creating as the resulting time of the headway of the Internet, it gets critical to see the diverse expected zones for the utilization of IoT and the research challenges that are connected with these applications going from splendid savvy urban areas, to medical care administrations, shrewd farming, collaborations and retail. IoT is needed to attack into for all expectations and purposes for all pieces of our day-to-day life. Despite the fact that the current IoT enabling advancements have immensely improved in the continuous years, there are so far different issues that require attention. Since the IoT ideas results from heterogeneous advancements, many examination difficulties will arise. In like manner, IoT is planning for new components of exploration to be finished. This paper presents the progressing headway of IoT advancements and inspects future applications.
Cross Platform Development Using Fluttervivatechijri
Today the development of cross-platform mobile application has under the state of compromise. The developers are not willing to choose an alternative of either building the similar app many times for many operating systems or to accept a lowest common denominator and optimal solution that will going to trade the native speed, accuracy for portability. The Flutter is an open-source SDK for creating high-performance, high fidelity mobile apps for the development of iOS and Android. Few significant features of flutter are - Just-in-time compilation (JIT), Ahead- of-time compilation (AOT compilation) into a native (system-dependent) machine code so that the resulting binary file can execute natively. The Flutter’s hot reload functionality helps us to understand quickly and easily experiment, build UIs, add features, and fix bugs. Hot reload works by injecting updated source code files into the running Dart Virtual Machine (VM). With the help of Flutter, we believe that we would be having a solution that gives us the best of both worlds: hardware accelerated graphics and UI, powered by native ARM code, targeting both popular mobile operating systems.
The Internet, today, has become an important part of our lives. The World Wide Web that was once a small and inaccessible data storage service is now large and valuable. Current activities partially or completely integrated into the physical world can be made to a higher standard. All activities related to our daily life are mapped and linked to another business in the digital world. The world has seen great strides in the Internet and in 3D stereoscopic displays. The time has come to unite the two to bring a new level of experience to the users. 3D Internet is a concept that is yet to be used and requires browsers to be equipped with in-depth visualization and artificial intelligence. When this material is included, the Internet concept of material may become a reality discussed in this paper. In this paper we have discussed the features, possible setting methods, applications, and advantages and disadvantages of using the Internet. With this paper we aim to provide a clear view of 3D Internet and the potential benefits associated with this obviously cost the amount of investment needed to be used.
Recommender System (RS) has emerged as a significant research interest that aims to assist users to seek out items online by providing suggestions that closely match their interests. Recommender system, an information filtering technology employed in many items is presented in internet sites as per the interest of users, and is implemented in applications like movies, music, venue, books, research articles, tourism and social media normally. Recommender systems research is usually supported comparisons of predictive accuracy: the higher the evaluation scores, the higher the recommender. One amongst the leading approaches was the utilization of advice systems to proactively recommend scholarly papers to individual researchers. In today's world, time has more value and therefore the researchers haven't any much time to spend on trying to find the proper articles in line with their research domain. Recommender Systems are designed to suggest users the things that best fit the user needs and preferences. Recommender systems typically produce an inventory of recommendations in one among two ways -through collaborative or content-based filtering. Additionally, both the general public and also the non-public used descriptive metadata are used. The scope of the advice is therefore limited to variety of documents which are either publicly available or which are granted copyright permits. Recommendation systems (RS) support users and developers of varied computer and software systems to beat information overload, perform information discovery tasks and approximate computation, among others.
The study LiFi (Light Fidelity) demonstrates about how can we use this technology as a medium of communication similar to Wifi . This is the latest technology proposed by Harold Haas in 2011. It explains about the process of transmitting data with the help of illumination of an Led bulb and about its speed intensity to transmit data. Basically in this paper, author will discuss about the technology and also explain that how we can replace from WiFi to LiFi . WiFi generally used for wireless coverage within the buildings while LiFi is capable for high intensity wireless data coverage in limited areas with no obstacles .This research paper represents introduction of the Lifi technology,performance,modulation and challenges. This research paper can be used as a reference and knowledge to develop some of LiFitechnology.
Social media platform and Our right to privacyvivatechijri
The advancement of Information Technology has hastened the ability to disseminate information across the globe. In particular, the recent trends in ‘Social Networking’ have led to a spark in personally sensitive information being published on the World Wide Web. While such socially active websites are creative tools for expressing one’s personality it also entails serious privacy concerns. Thus, Social Networking websites could be termed a double edged sword. It is important for the law to keep abreast of these developments in technology. The purpose of this paper is to demonstrate the limits of extending existing laws to battle privacy intrusions in the Internet especially in the context of social networking. It is suggested that privacy specific legislation is the most appropriate means of protecting online privacy. In doing so it is important to maintain a balance between the competing right of expression, the failure of which may hinder the reaping of benefits offered by Internet technology
THE USABILITY METRICS FOR USER EXPERIENCEvivatechijri
THE USABILITY METRICS FOR USER EXPERIENCE was innovatively created by Google engineers and it is ready for production in record time. The success of Google is to attributed the efficient search algorithm, and also to the underlying commodity hardware. As Google run number of application then Google’s goal became to build a vast storage network out of inexpensive commodity hardware. So Google create its own file system, named as THE USABILITY METRICS FOR USER EXPERIENCE that is GFS. THE USABILITY METRICS FOR USER EXPERIENCE is one of the largest file system in operation. Generally THE USABILITY METRICS FOR USER EXPERIENCE is a scalable distributed file system of large distributed data intensive apps. In the design phase of THE USABILITY METRICS FOR USER EXPERIENCE, in which the given stress includes component failures , files are huge and files are mutated by appending data. The entire file system is organized hierarchically in directories and identified by pathnames. The architecture comprises of multiple chunk servers, multiple clients and a single master. Files are divided into chunks, and that is the key design parameter. THE USABILITY METRICS FOR USER EXPERIENCE also uses leases and mutation order in their design to achieve atomicity and consistency. As of there fault tolerance, THE USABILITY METRICS FOR USER EXPERIENCE is highly available, replicas of chunk servers and master exists.
Google File System was innovatively created by Google engineers and it is ready for production in record time. The success of Google is to attributed the efficient search algorithm, and also to the underlying commodity hardware. As Google run number of application then Google’s goal became to build a vast storage network out of inexpensive commodity hardware. So Google create its own file system, named as Google File System that is GFS. Google File system is one of the largest file system in operation. Generally Google File System is a scalable distributed file system of large distributed data intensive apps. In the design phase of Google file system, in which the given stress includes component failures , files are huge and files are mutated by appending data. The entire file system is organized hierarchically in directories and identified by pathnames. The architecture comprises of multiple chunk servers, multiple clients and a single master. Files are divided into chunks, and that is the key design parameter. Google File System also uses leases and mutation order in their design to achieve atomicity and consistency. As of there fault tolerance, Google file system is highly available, replicas of chunk servers and master exists.
A Study of Data Storage Security Issues in Cloud Computingvivatechijri
Cloudcomputingprovidesondemandservicestoitsclients.Datastorageisamongoneoftheprimaryservices providedbycloudcomputing.Cloudserviceproviderhoststhedataofdataownerontheirserverandusercan accesstheirdatafromtheseservers.Asdata,ownersandserversaredifferentidentities,theparadigmofdata storagebringsupmanysecuritychallenges.Anindependentmechanismisrequiredtomakesurethatdatais correctlyhostedintothecloudstorageserver.Inthispaper,wewilldiscussthedifferenttechniquesthatare usedforsecuredatastorageoncloud. Cloud computing is a functional paradigm that is evolving and making IT utilization easier by the day for consumers. Cloud computing offers standardized applications to users online and in a manner that can be accessed regularly. Such applications can be accessed by as many persons as permitted within an organization without bothering about the maintenance of such application. The Cloud also provides a channel to design and deploy user applications including its storage space and database without bothering about the underlying operating system. The application can run without consideration for on premise infrastructure. Also, the Cloud makes massive storage available both for data and databases. Storage of data on the Cloud is one of the core activities in Cloud computing. Storage utilizes infrastructure spread across several geographical locations.
Best Practices of Clothing Businesses in Talavera, Nueva Ecija, A Foundation ...IJAEMSJORNAL
This study primarily aimed to determine the best practices of clothing businesses to use it as a foundation of strategic business advancements. Moreover, the frequency with which the business's best practices are tracked, which best practices are the most targeted of the apparel firms to be retained, and how does best practices can be used as strategic business advancement. The respondents of the study is the owners of clothing businesses in Talavera, Nueva Ecija. Data were collected and analyzed using a quantitative approach and utilizing a descriptive research design. Unveiling best practices of clothing businesses as a foundation for strategic business advancement through statistical analysis: frequency and percentage, and weighted means analyzing the data in terms of identifying the most to the least important performance indicators of the businesses among all of the variables. Based on the survey conducted on clothing businesses in Talavera, Nueva Ecija, several best practices emerge across different areas of business operations. These practices are categorized into three main sections, section one being the Business Profile and Legal Requirements, followed by the tracking of indicators in terms of Product, Place, Promotion, and Price, and Key Performance Indicators (KPIs) covering finance, marketing, production, technical, and distribution aspects. The research study delved into identifying the core best practices of clothing businesses, serving as a strategic guide for their advancement. Through meticulous analysis, several key findings emerged. Firstly, prioritizing product factors, such as maintaining optimal stock levels and maximizing customer satisfaction, was deemed essential for driving sales and fostering loyalty. Additionally, selecting the right store location was crucial for visibility and accessibility, directly impacting footfall and sales. Vigilance towards competitors and demographic shifts was highlighted as essential for maintaining relevance. Understanding the relationship between marketing spend and customer acquisition proved pivotal for optimizing budgets and achieving a higher ROI. Strategic analysis of profit margins across clothing items emerged as crucial for maximizing profitability and revenue. Creating a positive customer experience, investing in employee training, and implementing effective inventory management practices were also identified as critical success factors. In essence, these findings underscored the holistic approach needed for sustainable growth in the clothing business, emphasizing the importance of product management, marketing strategies, customer experience, and operational efficiency.
Social media management system project report.pdfKamal Acharya
The project "Social Media Platform in Object-Oriented Modeling" aims to design
and model a robust and scalable social media platform using object-oriented
modeling principles. In the age of digital communication, social media platforms
have become indispensable for connecting people, sharing content, and fostering
online communities. However, their complex nature requires meticulous planning
and organization.This project addresses the challenge of creating a feature-rich and
user-friendly social media platform by applying key object-oriented modeling
concepts. It entails the identification and definition of essential objects such as
"User," "Post," "Comment," and "Notification," each encapsulating specific
attributes and behaviors. Relationships between these objects, such as friendships,
content interactions, and notifications, are meticulously established.The project
emphasizes encapsulation to maintain data integrity, inheritance for shared behaviors
among objects, and polymorphism for flexible content handling. Use case diagrams
depict user interactions, while sequence diagrams showcase the flow of interactions
during critical scenarios. Class diagrams provide an overarching view of the system's
architecture, including classes, attributes, and methods .By undertaking this project,
we aim to create a modular, maintainable, and user-centric social media platform that
adheres to best practices in object-oriented modeling. Such a platform will offer users
a seamless and secure online social experience while facilitating future enhancements
and adaptability to changing user needs.
In May 2024, globally renowned natural diamond crafting company Shree Ramkrishna Exports Pvt. Ltd. (SRK) became the first company in the world to achieve GNFZ’s final net zero certification for existing buildings, for its two two flagship crafting facilities SRK House and SRK Empire. Initially targeting 2030 to reach net zero, SRK joined forces with the Global Network for Zero (GNFZ) to accelerate its target to 2024 — a trailblazing achievement toward emissions elimination.
An Internet Protocol address (IP address) is a logical numeric address that is assigned to every single computer, printer, switch, router, tablets, smartphones or any other device that is part of a TCP/IP-based network.
Types of IP address-
Dynamic means "constantly changing “ .dynamic IP addresses aren't more powerful, but they can change.
Static means staying the same. Static. Stand. Stable. Yes, static IP addresses don't change.
Most IP addresses assigned today by Internet Service Providers are dynamic IP addresses. It's more cost effective for the ISP and you.
A vernier caliper is a precision instrument used to measure dimensions with high accuracy. It can measure internal and external dimensions, as well as depths.
Here is a detailed description of its parts and how to use it.
How to Manage Internal Notes in Odoo 17 POSCeline George
In this slide, we'll explore how to leverage internal notes within Odoo 17 POS to enhance communication and streamline operations. Internal notes provide a platform for staff to exchange crucial information regarding orders, customers, or specific tasks, all while remaining invisible to the customer. This fosters improved collaboration and ensures everyone on the team is on the same page.
Encontro anual da comunidade Splunk, onde discutimos todas as novidades apresentadas na conferência anual da Spunk, a .conf24 realizada em junho deste ano em Las Vegas.
Neste vídeo, trago os pontos chave do encontro, como:
- AI Assistant para uso junto com a SPL
- SPL2 para uso em Data Pipelines
- Ingest Processor
- Enterprise Security 8.0 (Maior atualização deste seu release)
- Federated Analytics
- Integração com Cisco XDR e Cisto Talos
- E muito mais.
Deixo ainda, alguns links com relatórios e conteúdo interessantes que podem ajudar no esclarecimento dos produtos e funções.
https://www.splunk.com/en_us/campaigns/the-hidden-costs-of-downtime.html
https://www.splunk.com/en_us/pdfs/gated/ebooks/building-a-leading-observability-practice.pdf
https://www.splunk.com/en_us/pdfs/gated/ebooks/building-a-modern-security-program.pdf
Nosso grupo oficial da Splunk:
https://usergroups.splunk.com/sao-paulo-splunk-user-group/
Software Engineering and Project Management - Introduction to Project ManagementPrakhyath Rai
Introduction to Project Management: Introduction, Project and Importance of Project Management, Contract Management, Activities Covered by Software Project Management, Plans, Methods and Methodologies, some ways of categorizing Software Projects, Stakeholders, Setting Objectives, Business Case, Project Success and Failure, Management and Management Control, Project Management life cycle, Traditional versus Modern Project Management Practices.
Online music portal management system project report.pdfKamal Acharya
The iMMS is a unique application that is synchronizing both user
experience and copyrights while providing services like online music
management, legal downloads, artists’ management. There are several
other applications available in the market that either provides some
specific services or large scale integrated solutions. Our product differs
from the rest in a way that we give more power to the users remaining
within the copyrights circle.
20CDE09- INFORMATION DESIGN
UNIT I INCEPTION OF INFORMATION DESIGN
Introduction and Definition
History of Information Design
Need of Information Design
Types of Information Design
Identifying audience
Defining the audience and their needs
Inclusivity and Visual impairment
Case study.
Response & Safe AI at Summer School of AI at IIITHIIIT Hyderabad
Talk covering Guardrails , Jailbreak, What is an alignment problem? RLHF, EU AI Act, Machine & Graph unlearning, Bias, Inconsistency, Probing, Interpretability, Bias
Profiling of Cafe Business in Talavera, Nueva Ecija: A Basis for Development ...IJAEMSJORNAL
This study aimed to profile the coffee shops in Talavera, Nueva Ecija, to develop a standardized checklist for aspiring entrepreneurs. The researchers surveyed 10 coffee shop owners in the municipality of Talavera. Through surveys, the researchers delved into the Owner's Demographic, Business details, Financial Requirements, and other requirements needed to consider starting up a coffee shop. Furthermore, through accurate analysis, the data obtained from the coffee shop owners are arranged to derive key insights. By analyzing this data, the study identifies best practices associated with start-up coffee shops’ profitability in Talavera. These findings were translated into a standardized checklist outlining essential procedures including the lists of equipment needed, financial requirements, and the Traditional and Social Media Marketing techniques. This standardized checklist served as a valuable tool for aspiring and existing coffee shop owners in Talavera, streamlining operations, ensuring consistency, and contributing to business success.
A Study of Tokenization of Real Estate Using Blockchain Technology
1. VIVA-Tech International Journal for Research and Innovation Volume 1, Issue 4 (2021)
ISSN(Online): 2581-7280
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A Study of Tokenization of Real Estate Using Blockchain
Technology
Vinayak Chavan1,
Prof.Chandani Patel2
1
(Department of MCA, University of Mumbai, India)
2
(Department of MCA, University of Mumbai, India)
Abstract : Real estate is by far one of the most trusted investments that people have preferred, being a
lucrative investment it provides a steady source of income in the form of lease and rents. Although there are
numerous advantages, one of the key downsides of real estate investments is lack of liquidity. Thus, even
though global real estate investments amount to about twice the size of investments in stock markets, the
number of investors in the real estate market is significantly lower. Block chain technology has real
potential in addressing the issues of liquidity and transparency, opening the market to even retail investors.
Owing to the functionality and flexibility of creating Security Tokens, which are backed by real-world
assets, real estate can be made liquid with the help of Special Purpose Vehicles. Tokens of ERC 777
standard, which represent fractional ownership of the real estate can be purchased by an investor and these
tokens can also be listed on secondary exchanges. The robustness of Smart Contracts can enable the
efficient transfer of tokens and seamless distribution of earnings amongst the investors. This work describes
Ethereum blockchainbased solutions to make the existing Real Estate investment system much more
efficient.
Keywords -Blockchain, Ethereum, Real Estate, Security Token, Tokenization, Vehicle.
I INTRODUCTION
Real estate is a unique and complex asset class. The commercial real estate market makes up a significant
economic global segment in terms of the asset base and the transactional activity. Although the investment
market for real estate is huge, it has been dominated by a relatively closed network of firms and organizations
able to make large investments which are not liquid. Real estate is different from various other asset classes as it
involves high transaction costs, land use regulations and other barriers to entry. These characteristics of real
estate have implications for the overall efficiency of the market. While there have been improvements in the
information flow and transaction set up and completion – we are only at the initial few steps in terms of
digitization [14]. A significant portion of the digitized information is hosted on disparate systems, which results
in a lack of transparency and efficiency, and a higher incidence of inaccuracies that creates a greater potential
for fraud. There is still a lot of improvement that can be made in real estate when it comes to the use of digital
technology and the representation of physical assets in digital forms.
Blockchain technology could enable the real estate industry to address these inefficiencies and inaccuracies.
Simply said, a blockchain is essentially a shared and distributed database or ledger. Transactions are processed
and bundled in blocks and the blocks encrypted and cryptographically linked in a chain. The processing takes
place within a network of nodes – either public or private – with a consensus design intended to decentralize
authority such that no single source is the sole decider of transactional integrity. Rather authority is
decentralized across the operators of the nodes, with each node validating and maintaining verified copies of the
ledger [18]. By recording and combining transactions into a decentralized, secure ledger, a blockchain network
creates a “chain” of chronological data that no one party has control of or can change and such that each block
and the individual transaction can be verified via cryptography. The transaction records are further protected by
the replication of the data across nodes allowing for multiple and verifiable sources of truth. The main
contributions of this paper are:
Providing an approach for Real Estate Asset tokenization by using Ethereum, thus making it liquid, secure and
efficient.Extend the approach to provide an automated solution for the transfer of tokens and distribution of
earnings to investors.The remainder of this paper is organized as follows: Section 2 describes the existing
system and its flaws. Section 3 discusses the preliminaries for this work. Section 4 describes the proposed
2. VIVA-Tech International Journal for Research and Innovation Volume 1, Issue 4 (2021)
ISSN(Online): 2581-7280
VIVA Institute of Technology
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National Conference onRole of Engineers in Nation Building – 2021 (NCRENB-2021)
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workflow and Section 5 elaborates on the implementation architecture. Finally, Section 6 concludes the paper
and suggests directions for future scope.
II EXISTING SYSTEM AND ITS FLAWS
Real estate is real and tangible property made up of land as well as anything on it including natural resources,
flora and fauna, and buildings. Any real estate falls into one of the three categories - Residential, Commercial,
and Industrial. One of the traditional methods to invest in real estate is to buy land or property directly through a
real estate broker. Some of the advantages of real estate investments are competitive risk-adjusted returns, high
tangible asset value, and attractive and stable income returns in the form of rent and leasing fees. Fig. 1 depicts
the various ways to invest in real estate.
There are numerous drawbacks to traditional real estate investment. First of all, the initial cost required to buy
property is very high. Most of the investors are not able to meet this required amount and hence cannot invest in
real estate. The system also suffers from a lack of liquidity. Real estate investments are highly illiquid. To keep
earning rental income from the underlying property, the owner also has to find suitable tenants. One cannot sell
a fraction of their asset and have to sell the entire underlying asset. Moreover, there are generally numerous
intermediaries such as brokers, lawyers, etc. involved in the system. The transaction costs associated with the
real estate market are high and it takes a lot of time for a real estate deal to get finalized. All these factors make
the system cumbersome and unattractive to a retail investor [2].
Another alternate method to invest in real estate is through Real Estate Investment Trusts (REIT). A REIT is a
trust, corporation or an association that owns, or finances income-producing real estate and can be publicly
listed or privately owned [6]. The income of a REIT is generated through rent earned from its owned-asset
portfolio, interest earned by financing real estate assets or sale proceeds upon sale of assets under management.
Fig.1. Investment through A. REITs B. Traditional System C. Crowdfunding
Although REITs help to mitigate the problem of illiquidity in real estate, they have several
disadvantages. Historically, public REITs have had lower returns than private REITs. They also trade on an
average at a premium to the underlying Net Asset Value. The total value of the commercial real estate assets
value captured by the REITs is significantly smaller than the total Commercial Real Estate market. Hence, a
large number of commercial real estate is out of reach for investors. Moreover, the retail investors are also
dependent upon the REIT managers and do not have the option of customizing their real estate exposure. An
investor might want access to a specific type of asset in a specific geography and currently, REITs do not
provide the benefit of such a granular level of investment. Some REITs also incur high management and
transaction fees, leading to lower payouts for investors [13].
Crowdfunding is defined as a collection of equity and debt to be invested in several kinds of projects
through a web-based platform able to create opportunities by matching lenders and sponsors. The capital raised
in real estate crowdfunding is used in order to purchase, develop or refurbish a Real Estate asset with the aim of
subsequent use or transaction [1].
Real estate crowdfunding has failed to take off for multiple reasons. One of the biggest reasons is the
quality of assets listed on the crowdfunding platform. When assets that were unable to raise capital through
traditional means of the financing end up on crowdfunding platforms. Other issues with crowdfunding are multi-
year lock-in periods required. This locks investor capital and even with some platforms providing a secondary
market for these assets this reduces overall liquidity. Certain platforms allow investors to sell their holdings after
one year but these secondary markets are siloed [13]. All these factors make REITs and crowdfunding
undesirable for retail investors.
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III PRELIMINARIES
3.1 Blockchain:Blockchain technology is a type of distributed ledger technology that uses a Peer-to-Peer (P2P)
network model consisting of immutable and time-stamped records of data. This work employs the use of
Ethereum blockchain. As the name suggests, Blockchain is an append-only chain of blocks that are back-linked.
It was first introduced by Satoshi Nakamoto in [11]. Some of the main advantages of this technology are
security, immutability, decentralization, and transparency. It uses public-key cryptography as the base for
identifying users and granting them access to their assets on chain stored in these wallets. Cryptographic hash
functions, or simply hash functions, are known to be one way, i.e., the input cannot be deciphered from the hash
value of the input. These are used to create a tamper-proof record of any form of transactions on the ledger.
A blockchain system consists of users or computers which are called nodes [11]. These nodes form the
peers in the network. Any communication or sharing of resources between two peers is called a transaction, like,
in Bitcoin blockchain, the transfer of bitcoins is called a transaction. A block is a collection of transactions that
are verified and added to the blockchain. A block consists of a block header and a block body. The block header
consists of a previous block hash as one of its elements, which serves as a link to the previously added block and
the block bodyconsists of the transactions. The validation of the transaction is done by miners on the blockchain.
These miners contend to solve a cryptographic hash algorithm-based difficult mathematical puzzle. A consensus
protocol enables all the nodes of the network to reach a common agreement and ensures that there is only one
version of the truth that is agreed upon by all the nodes in theBlockchain.
When a transaction occurs, it is broadcasted to the entire network. The nodes in the network validate
the transaction and the user’s status. A set of verified transactions is considered to be added to the block. Miners
solve the mathematical puzzle and the one who solves it first broadcasts it to the entire network and mines the
new block on the blockchain. This new block is permanent and unalterable. The new state of the blockchain is
updated in the ledger present with each node, and it is distributed to each and every node on the network, it
makes it decentralized.
3.1 Ethereum:Ethereum is a global, open-source platform for decentralized applications. It is a specific
blockchain-based software platform that enables the possibility of building and running smart contracts and
Distributed Applications (DApps) [10]. Ether is the cryptocurrency asset employed in the Ethereum blockchain.
In some extent, Ether is the fuel for operating distributed applications over Ethereum. Using this
cryptocurrency, it is possible to make payments to other accounts or to the machines executing some requested
operation. Ether thus enables running DApps, enabling smart contracts, generating tokens during Initial Coin
Offering (ICOs), i.e., a type of funding using cryptocurrencies, and also for making standard P2P payments.
A transaction on Ethereum consists mainly of five elements [17], namely, From (sender), To (Receiver), Gas
(fees to be paid for performing operations), Data/Input (message), and Value (amount transferred in Wei). A
consensus algorithm is a procedure through which all the peers of the Blockchain network reach a common
agreement about the present state of the distributed ledger. Consensus algorithms hence achieve reliability in the
Blockchain network and establish trust between unknown peers in a distributed computing environment. Proof
of Work (PoW) is a consensus algorithm that aims at solving a costly and time-consuming mathematical puzzle
for a new block to be added to the blockchain and at the same time easy for other nodes to verify it. Proof of
Stake (PoS) concept states that a person can mine or validate block transactions according to how many coins
he or she holds. This means that the more cryptocurrency owned by a miner, the more mining power he or she
has. At present, Ethereum is using Proof of Work. But, it is transitioning into using Proof of Stake eventually.
3.3 Smart Contracts:Smart contracts are portions of codes where the logic is implemented. Ethereum provides
a Turing complete programming language e.g. Solidity that allows creating programs and running them on the
blockchain. When users send the transactions, the portion of code is executed [8]. The execution of a smart
contract occurs when a miner includes a transaction in a block and re-run by every recipient of this block upon
arrival. These are open to all other users and once the transactions are completed, they cannot be reversed. In
this way, the merits of the blockchain of immutability and cryptographically provided security are further
strengthened by the efficacy of smart contracts. Smart Contracts on the Ethereum Network are generally written
using the programming language Solidity. This Solidity-based smart contract is compiled using Ethereum
Virtual Machine (EVM) bytecode and subsequently executed and deployed on the Ethereum Blockchain [16].
3.4Tokenization:The tokenization of assets refers to the process of issuing a blockchain token (specifically, a
security token) that digitally represents a real tradable asset [7]. Tokenization is in many ways similar to the
4. VIVA-Tech International Journal for Research and Innovation Volume 1, Issue 4 (2021)
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traditional process of securitization. These security tokens are created through a type of initial coin offering (
ICO ) sometimes referred to as a security token offering (STO) to distinguish it from other types of ICOs, which
can produce different tokens such as equity, utility, or payment tokens. An STO can be used to create a digital
representation—a security token—of an asset, meaning that a security token could represent a share in a
company, ownership of a piece of real estate, or participation in an investment fund. These security tokens can
then be traded on a secondary market. The main benefits of tokenization of assets are:
Liquidity - By tokenizing assets, the tokens can be then traded on a secondary market of the issuer’s choice.
This access to a broader base of traders increases the liquidity [9].
Faster and cheaper transactions - Because the transaction of tokens is completed with smart contracts, certain
parts of the exchange process are automated. This automation can reduce the administrative burden involved in
buying and selling, with fewer intermediaries needed, leading to not only faster deal execution but also lower
transaction fees.
Transparency - A security token is capable of having the token holder’s rights and legal responsibilities
embedded directly onto the token, along with an immutable record of ownership. These characteristics promise
to add transparency to transactions, allowing you to know with whom you are dealing, what your and their
rights are, and who has previously owned this token.
Accessibility - Importantly, tokenization could open up investment in assets to a much wider audience thanks to
reduced minimum investment amounts and periods. Tokens are highly divisible, meaning investors can
purchase tokens that represent incredibly small percentages of the underlying assets.
3.5 Special Purpose Vehicle:A Special Purpose Vehicle is a separate legal entity created by an organization.
The Special Purpose Vehicle is a distinct company with its own assets and liabilities, as well as its own legal
status. Usually, a Special Purpose Vehicle is created for a specific objective [3]. Special Purpose Vehicles can
be viewed as a method of distributing the risks of an underlying pool of exposures held by the Special Purpose
Vehicle and reallocating them to investors who want to take those risks.
This allows investors to be able to invest in those opportunities which would not otherwise exist and provides
an additional source of revenue generation for the firm sponsoring the Special Purpose Vehicle. Some of the
most common uses of a Special Purpose Vehicle are:
Securitization - Special Purpose Vehicles are the key characteristic of securitization and are commonly used to
securitize loans and other receivables.
Asset Transfer - Many assets are either non-transferable or difficult to transfer. By having a Special Purpose
Vehicle own a single asset, the Special Purpose Vehicle can be sold as a self-contained package, rather than
attempting to split the asset or assign numerous permits to various parties.
Financing - A Special Purpose Vehicle can be used to finance a new venture without increasing the debt burden
of the firm sponsoring the Special Purpose Vehicle and without diluting existing shareholders. The sponsor may
contribute some of the equity with outside investors providing the remainder
3.6 Legal aspects of Security tokens, Smart Contracts, and Special Purpose Vehicle :The Securities and
Exchange Commission (the ”SEC”) has regulatory authority over the issuance or resale of any ethereum token
or other digital asset that has the characteristics of an ”investment contract”. Under Securities Act § 2(a) (1) and
Securities Exchange Act § 3(a)(10), a security includes “an investment contract.”. An ”investment contract” has
been defined by the U.S. Supreme Court as an investment of money in a common enterprise with a reasonable
expectation of profits to be derived from the entrepreneurial or managerial efforts of others. On September 11,
2018, the U.S. District Court for the Eastern District of New York held that a digital token can be deemed to be
a security under the Howey test [5].
According to the Financial Conduct Authority (FCA) in their Policy Statement 19/22, the security tokens are
within the regulatory parameter [4]. This means that firms carrying on specified activities involving security
tokens need to ensure that they have the correct permissions and are following the relevant rules and
requirements.
To make the smart contract associated with the platform legally binding, we can use the approach as suggested
in [12]. The approach involves digitally signing the legal contract by the different entities involved in the
transaction. Once the legal contracts have been signed, they are added to an immutable distributed database
such as the InterPlanetary File System (IPFS) and the hashes of these legal documents are added to the smart
contract. This ensures that the smart contract was legally agreed upon by every party in the transaction and any
disputes can be upheld in a court of law.
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The Special Purpose Vehicle owning the asset would be tokenized and the shares of the Special Purpose
Vehicle would be distributed to the token holders. The Special Purpose Vehicle is treated as a corporation and
is subject to laws pertaining to the respective jurisdictions. A shareholder certificate can be provided to token
holders. The token holders will have to comply with the respective KYC/AML norms.
IV.PROPOSED WORKFLOW FOR TOKENIZING REAL ESTATE
The process involves background verification of users (asset owners and investors) and registering them on the
platform. Later, a Special Purpose Vehicle is created which holds the title of the asset and is tokenized. The
tokens are issued initially through a security token offering and using smart contracts the monthly distribution of
the income generated by the asset is done to the investors. These processes are described in detail below:
4.1 Registration of entities:
We propose a common platform where the asset owners can be connected with the investors. Every Real estate
owner, as well as the investors, will have to register on the platform. A Know Your Customer (KYC) and Anti
Money Laundering (AML) verification for every user registered on the platform would be conducted through a
third-party provider. Basic details regarding the User’s identity would need to be submitted by the user
electronically to the platform. Once the KYC and AML requirements are satisfied, the user can be able to access
the services of the platform.
Fig.2. Registration of Users on platform
4.2 Creation of special purpose vehicle:
Once an Owner of the property is registered, he/she can now submit the necessary documents and paperwork in
accordance with the local jurisdiction. A Special Purpose Vehicle is created. The Special Purpose Vehicle would
serve as the legal owner of a real estate. Also, the Special Purpose Vehicle would be responsible for the
operation of the real estate or, in general, the underlying assets. These operations can be the functioning of a
hotel or renting the property for commercial purposes. It is the Special Purpose Vehicle that would be
responsible to verify the documents with the concerned authorities. The Special Purpose Vehicle is only created
upon successful verification of the paperwork. In case of any inconsistency with either the information of the
asset or the Special Purpose Vehicle, the entire deal is called off, on grounds of not complying with legal
formalities. The reason for opting for a Special Purpose Vehicle instead of direct tokenization of an asset is that
in most countries, directly tokenizing the underlying asset is not possible due to the lack of legal and technical
frameworks for enabling the tokenization of property rights [15].
4.3 Tokenization and smart contract:
Once everything is verified, the Special Purpose Vehicle is successfully created and the process of tokenization
can be proceeded with. It is the Special Purpose Vehicle and not the underlying asset which would be tokenized.
The tokens generated would represent shares of the Special Purpose Vehicle. It means that every token holder
would have some percentage of ownership in the Special Purpose Vehicle based on the number of tokens they
hold. From the legal perspective, the ownership of these Security Tokens is guaranteed owing to an Special
Purpose Vehicle that we establish for each of our clients. The Security Tokens issued are an economic right to
share the profits of the Special Purpose Vehicle.
It is at this stage that the crypto tokens are actually minted on the Ethereum blockchain of ERC 777 standard.
These security tokens, which are blockchain native, are now a representation of the fractional ownership of the
Special Purpose Vehicle and by extension the asset. Subsequently, these tokens must be embedded with
subjected regulation on a Smart Contract. The underlying Smart Contract would contain the entire business
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logic of transfer of ownership and validating the users and transactions. Moreover, the use of a Smart Contract
can be further extended to incorporate additional features of the token.
4.4 Security token offering (sto) / initial coin offering ( ico ) :
Once the Special Purpose Vehicle has been tokenized, the tokenized securities will be issued to the investors
through a Security Token Offering. Unlike the tokens issued through an ICO, Security tokens are backed by an
asset. Hence, the tokens of Special Purpose Vehicle would be issued through an STO. The asset would be listed
on the platform. Target price and the number of tokens would be set based on the value of the asset. The
registered user will be able to
Fig.3.Tokenization of Real Estate
view all the asset features such as the location, cost, expected returns and other details of the asset on the
platform. Once the user decides to purchase the token of the given asset, they will pay the required amount
based on the number of tokens purchased.If the STO is successful, which means if the STO is able to raise the
required target amount of funds, the investors will receive their corresponding tokens and the asset title would
transfer in the name of the Special Purpose Vehicle offline. Whereas, if the STO is not successful and is unable
to raise the required amount necessary to purchase the asset, the amount paid by the existing investors would be
refunded and the title ownership would still lie in the name of the original asset owner.Once the investors have
received their tokens, they would be able to benefit from the monthly returns of the tokens as well as from the
capital appreciation due to the rise in token value. Since the implemented token is based on Ethereum and is of
the ERC 777 standard, the investors can also freely sell these tokens in the secondary market via different
exchanges where the tokens can be traded. This ability of trading the tokens ensures liquidity to the investors.
4.5 Distribution of dividends to the investors:
As discussed earlier, the real estate can be used for various purposes. It could be rented for commercial or
residential purposes or it could be a hotel business. In any case, revenue can be generated from the asset. The
profits can be distributed to the investors in the proportion of the number of tokens they own. This system can
be automated and efficiently implemented using a smart contract. The smart contract can have the functionality
of calculating the percentage of ownership and smoothly transfer the proportion of profits to the investor without
any scope for frauds or discrepancies. Along with functionality for dividends’ distribution, additional features
for voting of investors in case of any decision taking can also be implemented.
Fig.4. Distribution of dividends to Investors
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VIVA Institute of Technology
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V.IMPLEMENTATION ARCHITECTURE OF THE PROPOSED SYSTEM
The platform will be based on the ethereum blockchain which allows us to use smart contracts. The security
tokens which are backed by the shares of the Special Purpose Vehicle will be embedded in the smart contract.
The tokens will follow the ERC 777 standard protocols. ERC 777 standard defines a common list of rules
which all ethereum tokens must adhere to.
ERC 777 defines 13 different functions for the benefit of other tokens within the Ethereum system.
The Thirteen functions defined by the ERC 777 are:
– name() - This function returns the name of the token in string format
– symbol() - This function returns the symbol of the token in string format
– totalSupply() - This function identifies the total number of tokens created
– balanceOf() - The balanceOf function returns the number of tokens that a particular address,
in this case, the contract owner, has in their account.
– granularity() - This function gets the smallest part of the token that’s not divisible.The
granularity is the smallest amount of tokens (in the internal denomination) which may be
minted, sent or burned at any time.
– defaultOperators() - It gets the list of default operators as defined by the token contract
– isOperatorFor() - This function indicates whether the operator address is an operator of the
holder address.
– authorizeOperator() - This function sets a third party operator address as an operator of the
sender to send and burn tokens on its behalf.
– revokeOperator() - This function removes the right of the operator address to be an operator
send and burn tokens on its behalf.
– send() - This function sends the amount of tokens from the address of the sender to the
address of the recipient.
– operatorSend() - This function sends the given amount of tokens on behalf of the address of
sender to the receiver.
Altogether, this set of functions and signals ensures that Ethereum tokens of different types will uniformly
perform in any place within the Ethereum system. As such, nearly all of the digital wallets which support the
ether currency also support ERC 777 compliant tokens. Following the ERC 777 standard for the tokens would
allow the tokens to be listed and traded in numerous secondary market exchanges that are compatible with
ERC 777 tokens.
Input: recipient address tokens
function transfer:
1: if (recipient address 6= stakeholder or
Balance of msg.sender <tokens) then
2: Abort session
3: else
4: Debit tokens from account of msg.sender
5: Credit tokens to account of recipient address
6: Emit tokens is transferred from msg.sender to recipient address
7: end if
On top of these above listed six functions, a function for Asset income distribution is also implemented in
the smart contract. The algorithm takes as input the accumulated wealth which denotes the income accumulated
by the Special Purpose Vehicle over the years and the income which denotes the income of the Special Purpose
Vehicle during the current month. The algorithm is invoked by the Special Purpose Vehicle at the end of each
month. The algorithm first verifies whether the account which invoked the contract is the Special Purpose
Vehicle. Then for every token holder it calculates the proportion of tokens that the token holder owns and
calculates the dividend distributed to them accordingly. The contract then credits the dividend into each token
holders account. A transaction is emitted to the blockchain stating the respective dividend has been credited in
the Tokenholder’s account.
Algorithm 2 Distribution of Dividends
Input: accumulated wealth
Algorithm 1 Transfer Tokens
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income
function distribute:
1: if (msg.sender 6= Special Purpose Vehicle) then
2: Abort session
3: else
4: for every token holder do
5: Calculate Percentage of ownership (percent own)
6: dividend = income * percent own
7: accumulated wealth - dividend
8: Balance of token holder = Balance of token holder + dividend
9: end for
10: Emit dividends distributed to token holders
11: end if
VI. CONCLUSION
In this paper, we present an approach to introduce liquidity in a real estate investment by leveraging the use
of Blockchain technology. We have used a Special Purpose Vehicle for the purpose of holding the
underlying asset. Special Purpose Vehicle is tokenized and is providing the investors the flexibility to
purchase ERC 777 standard security tokens as per their convenience. A Smart Contract is developed for the
transfer of tokens and also an automated solution for distribution of dividends is implemented.
The future directions for this work focus on using a Decentralized Autonomous Organization (DAO) instead
of a Special Purpose Vehicle to further improve decentralization. We can also provide functionality for
additional features like voting and loyalty rewards for token holders. Moreover, each token can also be
structured to represent ownership in the Special Purpose Vehicle which not only owns a single asset but
holds the title for multiple assets belonging to the same class. For example, tokens can be made to represent
shares of a Special Purpose Vehicle which holds two or more assets.
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