💊2) NFT Issuance and Storage Technology

The SEYT project implements NFT issuance and storage technology with a focus on transparency, security, scalability, and data permanence to create a reliable user service environment. By combining robust blockchain networks, smart contracts, and decentralized data storage solutions, we ensure efficient, safe, and accessible real estate transactions via NFTs.

1] NFT Issuance Technology Implementation

- Blockchain Network Selection

• The blockchain network is chosen for scalability, security, cost-effectiveness, and speed. Given that real estate represents high-value assets, network security and reliability are paramount when digitizing ownership. Ethereum, with its ERC-721 and ERC-1155 standards, is widely recognized for secure NFT issuance. The ERC-721 standard supports unique NFTs, making it ideal for digitizing individual real estate properties. ERC-1155 allows simultaneous issuance of multiple assets, enhancing efficiency.

• Though considering options like Polygon or Solana for their cost efficiency, SEYT has selected a BNB-based blockchain for its balance of speed and transaction affordability, while providing stability akin to Ethereum for high-value transactions. Plans include multi-chain support to offer users flexibility in blockchain network choice.

• The NFT issuance system implements a multi-chain function that supports multiple blockchains, and users select a blockchain network. It can be planned to build a more flexible service environment.

- Automated Issuance via Smart Contracts

• Smart contracts play a crucial role in real estate NFT issuance, automating processes such as ownership transfers, rent payments, and transaction completion when certain conditions are met. The process will be designed to allow property listings to automatically verify ownership and issue NFTs via smart contracts.

• For enhanced security in ownership transfers, multi-signature smart contracts will require approvals from the seller, buyer, and verified intermediaries, reducing fraud risks and bolstering transaction trustworthiness.

• In order to ensure reliable transfer of ownership, we plan to introduce a multi-signature smart contract so that ownership is issued only after the approval of the seller, buyer, authorized intermediary, or legal institution is completed. This is expected to prevent fraud risks and increase the reliability of transactions.

- Real Estate Tokenization and Fractional Ownership Issuance

• Real estate NFTs facilitate fractional ownership, allowing multiple investors to own shares of high-value properties. SEYT tokenizes real estate into multiple NFTs, each representing a percentage of the property’s value, thereby increasing accessibility for small-scale investors and boosting liquidity.

• A liquidity pool for trading tokenized real estate NFTs enables investors to buy and sell shares freely, fostering a dynamic and accessible market.

• We create a liquidity pool to trade real estate tokenized as NFTs, allowing investors to freely buy and sell real estate NFTs. We believe that this service will make real estate assets easier to trade and create a highly liquid market.

2] NFT Storage Technology Implementation

- Decentralized Data Storage

Essential real estate data (e.g., property images, contracts, and registry documents) connected to NFTs require secure, permanent storage, as blockchain stores only transaction records, not the data itself. Therefore, decentralized storage solutions are critical.

The method below is a data storage technique.

• IPFS(InterPlanetary File System):IPFS distributes data across the network, reducing risks of data loss or deletion. SEYT uses IPFS to securely store documents and media files associated with real estate NFTs, with blockchain references ensuring data integrity.

• Arweave:For long-term storage, Arweave guarantees data permanence, making it ideal for securely archiving enduring records, such as real estate documents, that require long-term preservation.

- Hybrid On-Chain and Off-Chain Storage

Due to blockchain storage limitations and costs, SEYT balances on-chain and off-chain storage.

• On-Chain Metadata:Key property ownership details and contract hash values are stored on-chain, ensuring data permanence and immutability.

• Off-Chain Data References:Large files (e.g., property images) are stored off-chain on systems like IPFS or Arweave, with blockchain pointers directing to these resources.

- Data Integrity Assurance

• To prevent off-chain data tampering or deletion, SEYT secures data integrity with hash verification. Blockchain stores the hash values of off-chain data, detecting any tampering instantly.

• A real-time data verification system monitors off-chain data, ensuring that users can trust the referenced property data associated with their NFTs.

3] Security and Regulatory Compliance

- Enhanced Security Solutions

• Wallet Security:For real estate NFT storage and transactions, SEYT enhances wallet security with multi-factor authentication (MFA) and recommends hardware wallets (cold wallets) for optimal security.

• Data Encryption:Sensitive ownership data is encrypted, with transactions and data transfers conducted through secure, encrypted channels to prevent unauthorized access.

- Regulatory Compliance

• KYC/AML Integration:SEYT follows KYC and AML procedures to ensure compliance with regulatory standards, securing user trust and complying with local requirements.

• Localized Regulatory Adherence:With plans for international use, SEYT will incorporate regulatory standards for each country. For instance, property ownership transfer and tax reporting features will adhere to local real estate laws, ensuring full compliance.

Through a robust combination of smart contract-based automation, secure decentralized storage, and flexible blockchain options, the SEYT project’s NFT issuance and storage solutions offer transparency, security, and efficiency. This setup enables users to confidently trade real estate assets, providing a safe and user-friendly environment for digitizing real estate ownership.