Blockchain at SAPX
clicktopurchase® and the clicktopurchase® Blockchain at SAPX provides an immutable and totally transparent audit trail in relation to the process of buying and selling real estate.
The level of corporate governance and trust provided, for both buyers and sellers, is unavailable elsewhere.
What is Blockchain?
Blockchain is a database. Significantly it is one which is immutable, tamper-proof. This is achieved by data inputs being “hashed” and moved into “Blocks” of data, with a subsequent Block incorporating new data inputs along with the inputs from the previous Block. As a result, each Block is dependant upon a previous Block, hence a “Block-Chain”.
Data is “hashed”, which means it is converted into a representation, a code, of a given length which will appear meaningless. However, the smallest change to any data input will change the output hash completely. Since each Block contains hashed data, changing any input within the chain will change every subsequent output which means tampering is impossible.
Blockchain ledgers are copied onto multiple servers, so the database is "decentalised". Combining the “Chain of Blocks” with this decentalised system creates a method to hold data in a manner which is tamper proof and 100% reliable.
The clicktopurchase® Blockchain
clicktopurchase® uses hash and encryption technology as part of the creation of the transactional audit trail; this is then recorded in the clicktopurchase® Blockchain. Since all events are held in Blockchain, absolute proof of actions are held in a tamper-proof manner.
Ultimate in Trust
Thanks to Blockchain at clicktopurchase® no one can every challenge the audit trail, be it a Bidder’s application for verification, the level and conditions of an offer and the terms of an executed contract. All actions are recorded.
Here is a sale recorded in Blockchain:
And here is the Agreement of Sale with the matching hashed digital signatures.
If somehow the terms of the offer and acceptance had been altered on the Agreement of Sale within the clicktopurchase® system, the hashed signatures (which represent all transactional input data) would be altered and no longer match those already recorded within the immutable Blockchain ledger.
As a result, the clicktopurchase® Blockchain provides absolute proof of the audit trail and transactions. Manipulation is not possible.
Parties participating in clicktopurchase® are provided with Digital Wallets. This enables you to see a full record of your interactions, providing an ability to show proof of your audit trail.
The best in marketing from SAPX, unique digital execution by clicktopurchase® and Blockchain come together to provide unrivalled
Detailed guide to the corporate governance provided by clicktopurchase® blockchain
A more detailed guide to the corporate governance provided by clicktopurchase® blockchain South African Property Exchange.