Strata Fee Management in Condominiums: via Smart Contracts

• Liam Scholte ^[1]
  1. [1] University, Vancouver, BC V6B 1Z3, Canada
• Localización: Journal of Theoretical and Applied Electronic Commerce Research, ISSN-e 0718-1876, Vol. 18, Nº. 3, 2023, págs. 1157-1176
• Idioma: inglés
• Enlaces
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• Resumen

  • Condominiums and similar properties use a stratum to manage daily operations, and owners fund it through strata fees. While existing strata fee management systems may be able to handle such funds, such systems could be more inherently transparent. It is possible to leverage the digital ledger from blockchain networks and smart contracts to build a fully transparent strata fee management system. This paper proposes designing a strata fee management system based on a smart contract in the Ethereum network. Both strata corporations and homeowners can interact with the smart contract to execute common procedures such as paying strata fees and handling expenses.

    Using smart contracts for strata fee management, it is believed that the chance of fraud by strata corporations is lowered compared to other systems.