Definitions
Term | Definition |
Blueprint | A set of drawings and designs required to direct the construction of a building to the standards appropriate for the Community as well as the local jurisdiction in which the building will be created. |
Landholder | The owner or lessee of a Real Estate Asset |
Master Plan | A Master Plan is a dynamic long-term planning set of smart contracts that provides a conceptual layout to guide future growth and development of a community. Master planning is about making the connection between buildings, social settings, and their surrounding environments. |
Oracle | Blockchain oracles are entities that connect blockchains to external systems, thereby enabling smart contracts to execute based upon inputs and outputs from the real world. |
Recording Office | An office within a country (or similar jurisdiction) who has the authority for registering and maintaining title information on properties. |
Trustless | When we say blockchains are “trustless,” what we mean is that there are mechanisms in place by which all parties in the system can reach a consensus on what the canonical truth is. Power and trust is distributed (or shared) among the network’s stakeholders (e.g. developers, miners, and consumers), rather than concentrated in a single individual or entity (e.g. banks, governments, and financial institutions). |
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