TrustEstate - Verifiable Credentials on the Venom blockchain for evaluating real estate agents in Dubai, aimed at assisting foreigners in the UAE to buy or rent housing.
The real estate market in Dubai is highly competitive and opaque, making it challenging for foreigners to find housing for rent or purchase. In Dubai, it seems that everyone, from taxi drivers to university professors, is involved in selling and renting real estate. TrustEstate aims to address this issue by utilizing the Venom blockchain, Self-Sovereign Identity (SSI), and verifiable credentials to establish a secure and trusted model for agent-client interactions when renting or buying real estate in Dubai.
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TrustEstate's primary goal is to develop a minimum viable product (MVP) that enables foreigners to verify agents' rights to conduct transactions with properties in Dubai. By leveraging SSI, verifiable credentials, and the Venom blockchain, TrustEstate will offer end-users a simple and secure method to ensure they are dealing with authorized agents and registered properties.
The TrustEstate project scope includes:
The TrustEstate project will be developed by a team of SSI and VC developers from Identix.Space, who will work closely with stakeholders from Dubai government institutions, Emirates ID, and other responsible authorities.
The TrustEstate project will be developed during the Venom hackathon from May 10 to June 10, 2023.
Upon completing the TrustEstate project, the team expects to achieve the following results:
TrustEstate aims to transform the Dubai real estate market by providing immigrants with a secure and transparent platform for verifying the authenticity of real estate agents and properties. By harnessing the capabilities of SSI, verifiable credentials, and the Venom blockchain, TrustEstate will empower end-users to make informed decisions and contribute to building a more reliable and efficient real estate ecosystem in Dubai.