Application of Blockchain Technology to Reduce Costs

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Dr. Mohammed Oleiwi Al Chlaihawi


The research aims to explain the cognitive foundations of Blockchain technology, clarify its types, characteristics, how it works, its advantages and disadvantages, clarify the applications of this technology in the Real Estate Registration Directorate and the implications of its application, and study and analyze the impact of the technology on reducing transaction costs by presenting a proposed model for application in the research sample unit. This technology is considered one of the technologies that is based on the idea of decentralization by eliminating the role of the intermediary, thus making transactions reliable, secure, and quick in completion, with the accompanying reduction of effort, time, and costs, as through it transactions can be completed in a few seconds or minutes, and do not require many Of the documents and documents that hold the unit responsible for providing a warehouse to store them and providing means of protection for their preservation, the researcher has reached a set of conclusions, the most important of which are: The application of Blockchain technology leads to reducing many procedures, which leads to a significant reduction in the costs of all these steps.

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