Ubitquity, an mission-ready blockchain-secured platform for steady estate and title recordkeeping, has announced that it is partnering with Rainier Title, a Title and Escrow firm serving Washington Stutter, to method out a platform for rising tokenized property title as well to parallel recordsdata of conveyances.
“Rainier Title has proven itself to be one in every of essentially the most aggressive and innovative title companies in Washington utter. Blockchain know-how is going to disrupt, now now not substitute, the title business, and it is proper for a firm as innovative as Rainier to approach this with paunchy force,” stated Nathan Wosnack, Ubitquity Founder & CEO.
Rainier Title is in the approach of migrating to Qualia, a Silicon Valley-backed closing room and conveyance suite, and Ubitquity shall be working to manufacture application that seamlessly integrates into Qualia. Rainier Title shall be offering tokens that signify the patron’s property, giving the title proprietor opportunities to save recent designate with their property equivalent to rising fractionalized ownership investment opportunities. Having a token representing the property, and a blockchain file of the conveyance would additionally save spacious efficiencies for the summary job.
Ubitquity is additionally addressing the upward push of cybercrime in the business. Ubitquity’s tidy contract module, a blockchain-based totally totally tidy escrow contracts product named SmartEscrow enables for diminished overhead costs and mitigated dangers. Once recordsdata is positioned on the blockchain it ought to even be easily retrieved and re-extinct with out a need for extra verification.
The ideas turns proper into a single provide of truth all parties to the transaction can trust without the must reconcile. SmartEscrow enables closing brokers to care for a ways from and mitigate fraud – allowing them and their customers to be pleased the peace of mind that verified parties are sending and receiving funds from the simply provide with our staunch wire instruction instruments. Right here is entirely one in every of the rather a pair of advantages of collaborating within a blockchain atmosphere.
“We survey Blockchain know-how as your next step for the business. Ubitquity’s approach is tidy and pragmatic, and we’re taking a dwell up for the partnership,” stated Bill Bergschneider, Rainier Title CEO.
Ubitquity is a member of the Washington Technology Swap Association, and participates in the Cascadia Blockchain Council. The WTIA Cascadia Blockchain Council is a collaborative crew of companies, universities, and authorities companies dedicated to making the Cascadia space a world hub for blockchain construction. Ubitquity intends to tag its imprint on the innovative Pacific Northwest, as well to the global community.