Blockchain Solution for Real Estate Infrastructure Provider

About Customer

The customer is a leading consultant in the real estate infrastructure domain situated in the Netherlands. Along with other service providers, they construct and operate buildings and structures for their customers. They connect group employees with start-ups in order to design and construct innovative projects together, such as, offices and homes of the future, use new construction processes and create sustainable neighborhoods. Their focus was on creating smart cities which emphasized reduced pollution, greater safety and mobility for citizens, and enabled the transition to sustainable energy.

Challenge

The customer needed a coin distribution function that worked based on the area stored in the specified user's account. This would mean a function to store energy, receive energy and transfer energy to specific users. Users should be able to purchase energy by using cryptocoins within a specified building. Smart functionalities for energy management, dynamic charge calculation and tracking the usage history in real time would help the customer design optimal technological roadmaps.

Solution

iFour Technolab Pvt. Ltd. a leading custom Blockchain development company in USA developed a robust and reliable system for the customer.

The system module has the following features:

A robust and reliable “Coin Distribution and Transfer Function” handles the distribution of coins among all users, and the calculation and transfer of coins between users for the purchase of energy.
“Energy Transfer Module” consists of a smart contract function for storing usage and source of energy generated by the user to their wallet address.
“Coin Distribution” is a smart contract function that transfers coins to a given user.
“Bonus Function” - this functionality is to receive saved energy in kWh.
“Validity of Coins” sets the validity of coins in days; once the validity expires, the coin value is discarded.
“Admin User Management Module” - in this functionality, the admin can manage users, wherein new users can be added, edited or deleted.
“Property Manager” can add a user, set invoice for the user, accept/reject coin requests, transfer coins, set reward formula, set coin multiplier, see the energy dashboard and logs for every user.
"Resident/Commercial" property owner allows users to add, edit, delete their property.
“Tenant User” can view the invoice, add balance requests, accept/reject the invoice, transfer balance, view changes made in the profile, view coin balance, access the energy dashboard and view their logs.
“Master Data Management” handles all records of energy transfer to users, all users and the recorded coins transferred for energy purchase.

Conclusion/Results

iFour Technolab Pvt. Ltd. developed a sustainable and reliable solution related to managing real estate infrastructure. The solution addressed the customer’s specific needs, leading to high efficiency in handling information, integrated and real-time availability of information, dynamic and accurate reporting and high customer satisfaction. This led to reduced costs and improved their reputation in the market.

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