Specifically, the platform will reportedly enable tokenization of property titles, as well as functioning as a record-keeping place for data of conveyance for the Washington-headquartered Rainier Title – at the moment working on its migration to Qualia, and will finalize the integration with the conveyance suite Qualia.
Tokens generated through the platform will reportedly be the representative of a client’s property so title owners have a higher chance of coming up with new value, nominally a fractionalized ownership investment in the real estate.
Ubitquity reportedy disclosed that with tokens functioning as properties representatives, together with records of conveyance safely kept on the blockchain, will give room to “huge efficiencies for the abstract process.”
Ubitquity’s blockchain-as-a-service platform Unanimity reportedly allows users to carry out additional data input into the blockchain, for a store of all records with enhanced accuracy.
Apart from the collaboration with Rainier Title, Ubiquity reportedly further looks to deal with the increase of cybercrime, via developing a smart contract module for escrow contracts dubbed SmartEscrow – supporting the simplified retrieval or reuse of data without the need for extra verification.