Blockchain Property Access via Smart Contract Verification
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Solution Overview
Problem
In property leasing, there is a lack of trust between landlords and tenants due to inefficiencies and unverified tenant information, leading to risks and limitations in the leasing process, such as property damage and restricted access for prospective tenants without landlord presence.
Innovation Solution
Implementing a blockchain network to manage property leasing, enabling automated property access, recording transactions, and generating reputation scores to establish a trust platform between landlords and tenants, using smart contracts and sensors for secure and verified access and data storage.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional leasing processes are used, then landlords can control property access manually, but this creates inefficiencies and lack of trust between landlords and tenants
Solution Approach 1:
The patent introduces a blockchain-based intermediary system that mediates between landlords and tenants. The blockchain network serves as a trusted third party that records all transactions and interactions, enabling both parties to verify information without direct distrust. This intermediary layer resolves the trust issue while automating the leasing process to improve efficiency.
Solution Approach 2:
The patent replaces manual mechanical control systems with an automated blockchain-based system. Instead of manual key exchanges and paper contracts, the system uses smart contracts and cryptographic verification to automatically manage access rights and transactions, eliminating inefficiencies and building trust through transparent, immutable records.
2Reliability
If landlords manually verify tenant information, then trust can be established, but this creates risks of property damage and limits tenant access
Solution Approach 1:
The patent enables tenants to perform self-verification through the blockchain system. Tenants can present their identity and rental history records stored on the blockchain, which are automatically verified by the system without requiring manual intervention from landlords. This self-service approach maintains verification reliability while significantly improving ease of access.
Solution Approach 2:
The system performs preliminary verification of tenant information before property access is granted. Tenant credentials and rental history are pre-verified and stored on the blockchain, allowing for rapid authentication during the actual access process. This preliminary action ensures reliability while enabling smooth, automated access operations.
3Productivity
If automated property access is implemented, then efficiency improves, but security risks may increase without proper verification
Solution Approach 1:
The patent implements a feedback mechanism where the blockchain system continuously monitors and verifies tenant credentials against stored records before granting access. The system provides feedback by validating each access attempt against the immutable ledger, ensuring that only verified tenants gain entry. This feedback loop maintains security while enabling automated access operations.
Solution Approach 2:
The system provides beforehand cushioning by pre-verifying and storing tenant information on the blockchain before any property access occurs. This pre-establishment of verified credentials creates a security buffer that protects the property during automated access operations, preventing unauthorized entry while maintaining efficiency.
Data Source
AI summary
Disclosed herein are methods, systems, and apparatus, including computer programs encoded on computer storage media, for controlling access to a property based on smart contract execution. One of the methods includes receiving credential data for a first entity requesting access to a property; in response to receiving the credential data, requesting execution of a smart contract associated with the property by a blockchain network, wherein the smart contract includes instructions to check a current status of a relationship between the first entity and a second entity associated with the property based on the credential data; receiving an execution result of the smart contract from the blockchain network; determining that the first entity is authorized to access the property based at least in part on the execution result; and in response to determining that the first entity authorized to access the property, enabling the first entity to access to the property.