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Blockchain Based Regulatory Technology Deployment for Real Estate Transaction

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Network and System Security (NSS 2022)

Part of the book series: Lecture Notes in Computer Science ((LNCS,volume 13787))

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Abstract

This research investigates opportunities for deploying blockchain-based regulatory technology (RegTech) in the real estate industry, particularly the mortgage application process in real estate transactions. The real estate industry entails a broad range of regulatory requirements. Processes to fulfil these requirements are primarily inefficient and costly. Blockchain features many characteristics that can effectively deploy RegTech to make real estate transactions more efficient, accurate, faster and at a lower cost. This paper conducts a literature review and semi-structured interviews with a range of industry stakeholders to reveal four main categories of problems in the sector, examine five use cases of blockchain deployments, study in-depth the mortgage process as the primary target area for blockchain-based RegTech deployment, propose six desired attributes of an ideal mortgage process and offer a solution framework to encompass these attributes. The study also considers the limitations of blockchain-based RegTech solutions and suggests future considerations for such development.

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Author information

Authors and Affiliations

  1. Monash University, Melbourne, Australia

    Ru Ray Raymond Chao, Joseph K. Liu & Kai Su

Authors
  1. Ru Ray Raymond Chao
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  2. Joseph K. Liu
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  3. Kai Su
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Corresponding author

Correspondence to Ru Ray Raymond Chao .

Editor information

Editors and Affiliations

  1. Monash University, Clayton, VIC, Australia

    Xingliang Yuan

  2. The University of Queensland, Queensland, QLD, Australia

    Guangdong Bai

  3. University of Malaga, Málaga, Spain

    Cristina Alcaraz

  4. Concordia University, Montreal, QC, Canada

    Suryadipta Majumdar

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Chao, R.R.R., Liu, J.K., Su, K. (2022). Blockchain Based Regulatory Technology Deployment for Real Estate Transaction. In: Yuan, X., Bai, G., Alcaraz, C., Majumdar, S. (eds) Network and System Security. NSS 2022. Lecture Notes in Computer Science, vol 13787. Springer, Cham. https://doi.org/10.1007/978-3-031-23020-2_32

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  • DOI: https://doi.org/10.1007/978-3-031-23020-2_32

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  • Publisher Name: Springer, Cham

  • Print ISBN: 978-3-031-23019-6

  • Online ISBN: 978-3-031-23020-2

  • eBook Packages: Computer ScienceComputer Science (R0)

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