Enhancing estate governance through blockchain: An analysis of transparency, efficiency and security in estate management

Abstract

This study investigates the impact of blockchain technology on estate governance focusing on enhancing transparency, efficiency and security within the sector. A structured questionnaire using a 5-point Likert scale was distributed to 317 estate management professionals to collect quantitative data which was subsequently analyzed using SmartPLS 4. The results underscore transformative potential of blockchain technology revealing strong correlations between its implementation and improved estate governance outcomes. This study demonstrates how blockchain can significantly enhance estate administration by addressing inefficiencies, bolstering security and fostering greater transparency. The proposed framework for integrating blockchain into estate governance offers a comprehensive strategy to manage frozen estates more effectively, reduce administrative delays and minimize disputes. The study's primary contribution lies in its innovative application of blockchain technology to solve prevalent issues in estate management providing a strategic blueprint for future implementations. This study offers actionable insights and practical recommendations for estate management stakeholders emphasizing the critical role of blockchain in ensuring more efficient, transparent and secured governance practices. This study highlights the profound impact blockchain can have on modernizing estate management practices and establishing robust governance frameworks by thoroughly examining the dimensions of transparency, efficiency, and security. This study concludes by advocating for the adoption of blockchain technology to enhance estate governance effectiveness and improve overall management outcomes.