VGU RESEARCH REPOSITORY
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https://epub.vgu.edu.vn/handle/dlibvgu/1264
Title: | Transparency of condotel transaction based on blockchain technology for Vietnam real estate industry in tourism areas | Authors: | Nguyen Le An Phuong | Keywords: | Condotel;Blockchain technology;Real estate;Proptech | Issue Date: | 2019 | Publisher: | Vietnamese-German University | Abstract: | Tourism sector is one of the core economic pillars in Vietnam, in which tourism property plays an important role for the growth of this industry. The birth of condotel model has brought tremendous benefits for many stakeholders: a main source of capital for developer, inventory for hotel operator and return on investment for investor. Despite huge benefits, this condotel model has raised many questions regarding to legal concerns to government and information transparency among stakeholders because of its complexity. The main purpose of this research is to increase level of protection to the investor throughout transaction process by using blockchain technology to improve process transparency and document storage. A blockchain-based solution has been proposed in this research, it is a permissioned technicalbased intermediary party between the developer and the investor which responsible for processing information and facilitating documents through smart contract, escrow account, digital signature and timestamp. It digitizes the transaction process and reduces paper-formed documents. All essential activities and documents between two transacting parties have been recorded, timestamped and stored on the blockchain made it always available, immutable and ensure the integrity of content. Therefore, the proposed solution helps increase efficiency in operation for the developer enterprise as well as empower the investor’s confidence participating in the investment. |
URI(1): | http://epub.vgu.edu.vn/handle/dlibvgu/1264 |
Appears in Collections: | Business Information Systems (BIS) |
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Transparency of condotel transaction based on blockchain technology for Vietnam real estate industry in tourism areas.pdf | 6.38 MB | Adobe PDF |
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