Estate Ledger: Bridging the Gap between Real Estate and Blockchain

[GENERAL] Name and surname of main applicant

Vinay Devabhakthuni

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

6

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Estate Ledger is a modular protocol suite on Cardano for decentralized real estate applications, enabling investment democratization and transparent management.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No Dependencies

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

The smart contracts for real estate protocols will be open sourced where as the Dashboard, UI/UX will be proprietary product of Konma Labz.

License Statement for Estate Ledger

• Our project, Estate Ledger for the Cardano blockchain, is dedicated to open-source principles and community collaboration. To align with these values, we have chosen to release all project outputs under the Apache License 2.0. This license is well-recognized within the open-source community and provides both freedom and protection for contributors and users alike.

[SOLUTION] Please describe your proposed solution.

Estate Ledger will be a pioneering blockchain initiative aimed at transforming the real estate sector through the Cardano blockchain. It comprises a comprehensive suite of open-source smart contracts and a bespoke, user-friendly white-label dashboard. This toolkit enables developers to craft decentralized applications (dApps) for a variety of real estate functions such as property tokenization, marketplace transactions, crowdfunding, rental management, and more. 

Features

• Modular Smart Contracts: Customizable contracts for diverse real estate functionalities
• White-Label Dashboard: A no-code, customizable interface for dApp creators, simplifying user interactions with blockchain feature
• Tokenization of Real Estate Assets: Allowing fractional ownership and investment in real estate
• Decentralized Marketplace: Facilitating secure and transparent property transaction
• Crowdfunding and Rental Management Tools: Streamlining investment and management in real estate project
• Governance and Profit Distribution Protocols: Ensuring community-driven management and fair profit sharing

Target Audience

• Real Estate Developers and Agencies: Seeking to tokenize properties and manage them efficiently.
• Blockchain Developers: Looking for robust tools to create real estate-focused dApps.
• Investors and Buyers: Interested in accessible real estate investment opportunities.
• Property Managers and Landlords: Aiming to streamline rental and property management processes.

Real Estate Dapps in the Market

• Blocksquare (Ljubljana, Slovenia): Offers a real estate tokenization protocol and a white-label platform for investment platforms
• RealT (Aventura, Florida): A fractional real estate investment platform that allows global investors to invest in the U.S. real estate market through Ethereum-based tokenization.
• PropertyClub (New York, New York): Conducts real estate transactions digitally using cryptocurrencies including Ethereum, supported by smart contracts on the Ethereum blockchain.
• Propy Inc (San Francisco, California): Utilizes Ethereum smart contracts to facilitate real estate transactions in their marketplace

Estate Ledger's Impact on DApp Development and Cardano Blockchain

Estate Ledger stands out as a catalyst for rapid and effective dApp development within the real estate domain on the Cardano blockchain. By offering a complete set of tools and a no-code dashboard, it lowers the barrier to entry for developers and non-technical users alike. This accessibility will likely lead to a surge in innovative dApps, expanding the use cases and utility of the Cardano blockchain. The introduction of such a comprehensive toolkit is poised to accelerate the adoption of blockchain technology in real estate, paving the way for a more transparent, efficient, and accessible market.

Conclusion

Estate Ledger will be more than just a blockchain solution; it will be a bridge connecting the real estate industry to the future of decentralized technology. By equipping developers and stakeholders with the necessary tools, Estate Ledger will aim to unlock the full potential of real estate tokenization on the Cardano blockchain, fostering a new era of innovation, accessibility, and growth in this sector.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community.

Estate Ledger will enrich the Cardano ecosystem by introducing innovative real estate investment opportunities, enhancing blockchain's practical use cases.

Success will be gauged by the number of tokenized assets, user growth, and transaction volume.

Regular progress reports and data analytics will be shared with the community, fostering engagement and highlighting the project's impact on the Cardano ecosystem.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We are a team comprising blockchain developers with an advisory team that has experts from real estate and business development. Estate ledger was ideated with the precise planning and understanding of the real estate market and the great scope that real estate tokenization has established in the past year. With our robust team of Haskell Developers and Full stack developers and the constant feedback from our advisory team, we believe we have a team that can deliver this project.

As for Fund Management, we will be using Deworks to release funds for devs and all other expenditures will be tracked and updated with every milestone report submitted to the community.

We have a live Project Dashboard where the developments can be tracked real-time by the community making it a transparent building process

[Project Milestones] What are the key milestones you need to achieve in order to complete your project successfully?

Initial Setup and Planning

• Duration: 1 Month
• Description: Establishing project foundations, including setting up development environments, finalizing project plans, and beginning initial development work.
• Outputs: Project plan document, development environment setup for each developer, initial code repository.
• Acceptance Criteria: Project plan approval by the project manager, successful environment setup verification, and initial code commits reviewed by the Haskell developers.

Development of Remaining Protocols

• Duration: 2 Months
• Description: Development of the remaining smart contract protocols: Rental Management, Governance, Profit Distribution, Real Estate Analytics, Asset Management, Compliance.
• Outputs: Completed smart contracts for each protocol, initial testing reports.
• Acceptance Criteria: Code review and testing of each protocol's smart contract, documentation for each protocol, and successful demonstration of initial protocol functionalities.

Dashboard Development

• Duration: 1 Month
• Description: Designing and developing the user interface and backend for the Estate Ledger dashboard.
• Outputs: Prototype of the dashboard interface, backend integration logic.
• Acceptance Criteria: Review and approval of the dashboard design by the project team, successful demonstration of backend integration with mock data.

Integration of Protocols with Dashboard

• Duration: 1 Month
• Description: Integrating the developed smart contract protocols with the dashboard, ensuring seamless functionality.
• Outputs: Fully integrated dashboard with all smart contract modules, integration testing reports.
• Acceptance Criteria: Successful integration of all protocols with the dashboard, passing of integration tests, preliminary user acceptance testing with community members.

Final Testing, Documentation, and Launch Preparation

• Duration: 1 Month
• Description: Conducting extensive testing, preparing documentation, and planning for the launch.
• Outputs: Comprehensive test reports, user and developer documentation, launch plan, marketing materials.
• Acceptance Criteria: Completion of all testing with satisfactory results, completion of documentation reviewed by the project manager, approval of launch and marketing plans by the marketing lead.

Throughout the project, regular updates and progress reports will be provided to the Project Catalyst team and community members. This ensures transparency and allows for feedback and adjustments as needed. Each milestone builds upon the previous one, ensuring a structured and efficient development process.

We will finally be submitting the project report and video for the community to review.

[RESOURCES] Who is in the project team and what are their roles?

• Sangeet Muralidhar - Project Lead with extensive experience in blockchain project management.
• Vinay Devabhakthuni - Business Development
• Akash Malekar , Rahat Sayyed, Faizan Shaikh - Blockchain Developer skilled in smart contract development.
• Nikhil Batra - Real Estate Analyst specializing in market analysis and asset valuation.
• Vedant Jha - Marketing Strategist experienced in digital marketing and community engagement.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources.

Based on the total budget of 175,000 ADA, the budget breakdown in ADA, is as follows:

• Development Personnel: 90,000 ADA
• Software, Tools and Services: 20,000 ADA
• Marketing and Engagement: 20,000 ADA
• Project Management and Documentation: 30,000 ADA
• Contingency Fund: 15,000 ADA

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The budget is meticulously planned, reflecting industry standards and focusing on delivering high value. The investment in Estate Ledger will catalyze a new sector within the Cardano ecosystem, attracting new users and investors, thereby enhancing the overall value of the ecosystem.

[IMPORTANT NOTE] The Applicant agrees to Fund Rules and also that data in the submission form and other data provided by the project team during the course of the project will be publicly available.

I Accept