Analysis and Evaluation of a Blockchain-Based Framework for Decentralized Rental Agreements and Dispute Resolution

Blockchain technology, initially introduced with Bitcoin in 2008, has evolved beyond financial transactions to revolutionize trust systems. This paper presents a blockchain-based model for decentralized rental agreements and dispute resolution (DRADR). By leveraging smart contracts and decentralized justice principles, the DRADR model automates rental processes, enhances transparency, and provides impartial mechanisms for dispute resolution. Our study offers a comprehensive analysis of this model through theoretical frameworks, smart contract implementation, and game-theoretic comparisons. We explore the potential of blockchain to address long-standing challenges in traditional rental systems, such as power imbalances, inefficiencies, and legal disputes. Key contributions include the development of two smart contracts, the integration of decentralized societal justice systems, and insights into the future regulatory impact of blockchain on rental agreements and dispute resolution mechanisms. This research paves the way for a more equitable and transparent rental market and contributes to broader acceptance of blockchain-based solutions in everyday transactions.