BlockSTRACT: A blockchain-powered module add-on for leading title & closing room platforms, allowing for the easy integration of the abstract process, an ‘Uber’-like process of finding qualified abstractors, as well as recordation of abstract research onto the blockchain.
BlockSTRACT is a platform, similar to upwork and freelancer, whereby a title company can place a request for work and many abstractors and title production vendors can bid for the work. The system plugs into most title production software and gives the title agency real time status of the product and more once an abstractor agrees to undertake the work at the agreed upon price.
“The abstract process is critically important to ensure there is clean title on the property being sold. BlockSTRACT brings all of this into the Blockchain era. We’re pleased to have already licensed this software in the United States and we have signed a letter of intent with a Maryland-based title and closing company.” - Nathan Wosnack (Founder & CEO)