Blockchain technology, with its potential to transform the way transactions are conducted and completed, in addition to providing a safe, secured as well as fool-proof system, has touched upon different industries and sectors. One of its recent conquests is the real estate industry which has witnessed rapid digitalization and innovation due to virtue of blockchain technology.
The first to make a mark in this industry was Ubitquity, LLC registered in Wilmington Delaware, USA. Ubitquity was founded on September 15, 2015 and provides a simple and user-friendly BaaS (Blockchain-as-a-Service) platform and API (Application Programming Interface) for improving the overall experience of real estate transactions. Ubitquity’s process adds value for various stakeholders in the real estate ecosystem.
With its groundbreaking and pioneering platform, unanimity, has Ubitquity introduced a recording and tracking system, which using blockchain technology, adds transparency to the process, ownership and property information, and reduced search time.
Its decentralized system of record keeping and information, helps increase the confidence in the information being recorded and the overall real estate ecosystem. With its blockchain platform it aims to strengthen and not replace its existing analog counterpart: the physical or paper records in real estate and its client base includes title companies, municipalities/land records offices, aviation, title/title abstracting, and escrow firms worldwide.
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