How can Consumer Protection be ensured?


#1

Currently, we all want every industry to be innovated and improved by blockchain technology as much as it can. As I can observe, there are alot of platforms being created, epecially in p2p mechanism, for which the interaction is between sellers and consumers, eliminating middlemen. For the real estate industry, p2p mechanism is quite ambitious and risky for consumers but a lot cost efficient and effective. But how can consumer protection be ensured in case of real property transactions? How can one be prevented from being defrauded by other parties? How is the reputation of both buyers/lessee and sellers/lessors?


#2

For the reputation, I think there would be some rating system. Plus when you’re going to transact with a large amount, I think KYC will be needed. All the transactions will be visible to all, so no one can deny can transaction did not take place. Chances of fraud would be negligible or none.