A Blockchain-Based Framework for Rural Property Rights Transactions

Abstract

Currently, there are several issues in China’s rural property rights trading, including poor credit reporting, low transaction efficiency, non-standardized transaction contracts, and high costs for rights protection. However, blockchain technology, known for its convenience, security, and traceability, is highly compatible with the requirements of standardization, convenience, and agility in rural property rights trading. Therefore, we propose a system framework for rural property rights trading based on the Hyperledger Fabric consortium blockchain. This framework significantly enhances transaction efficiency, improves the security of rural property rights trading, effectively resolves contract disputes in property rights transactions, and promotes rural revitalization and development. Furthermore, we design the information data structure on the blockchain, present the information flow, and develop smart contracts that utilize automation capabilities to automatically summarize, analyze, and issue alerts based on on-chain data, enabling risk assessment for both buyers and sellers. Additionally, we introduce an improved PBFT consensus algorithm called CA-PBFT, which is based on the PBFT consensus protocol and integrates a scoring model and simplified consensus protocol. CA-PBFT efficiently reduces transaction response latency and improves information throughput. Finally, we develop a prototype system for rural property rights trading and perform a performance comparison and analysis of CA-PBFT against other PBFT-based consensus algorithms in this prototype system. Experimental results demonstrate the feasibility of the prototype system framework for rural property rights trading.