Strata Fee Management in Condominiums via Smart Contracts

【Author】 Scholte, Liam; Wang, Rui; Chung, Kwok Keung; Aibin, Michal

【Source】JOURNAL OF THEORETICAL AND APPLIED ELECTRONIC COMMERCE RESEARCH

【影响因子】5.318

【Abstract】Condominiums and similar properties use a stratum to manage daily operations, and owners fund it through strata fees. While existing strata fee management systems may be able to handle such funds, such systems could be more inherently transparent. It is possible to leverage the digital ledger from blockchain networks and smart contracts to build a fully transparent strata fee management system. This paper proposes designing a strata fee management system based on a smart contract in the Ethereum network. Both strata corporations and homeowners can interact with the smart contract to execute common procedures such as paying strata fees and handling expenses. Using smart contracts for strata fee management, it is believed that the chance of fraud by strata corporations is lowered compared to other systems.

【Keywords】blockchain; ethereum; strata management; smart contract; decentralization

【发表时间】2023 SEP

【收录时间】2023-10-13

【文献类型】实验仿真

【主题类别】

区块链应用-实体经济-物业领域