Idea of this project is to use blockchain technology to simplify real estate business and make it less error prone with the foolproof security of distrubuted ledger. Since the invention of ERC-721 token standard, it became quite easy to verify ownership via blockchain. Leveraging the same idea, a real estate asset can be tokenized and then traded on blockchain. This would be a game changer in real estate industry.
This project uses ERC-1155 instead of ERC-721 for a couple reassons:
- ERC-1155 manages multiple token types such as fungibles, non-fungibles or semi-fungibles.
- It has capability to batch transfer, making it viable and more feasible for transfering multiple assets at once, hence saving in gas fees.