SmartEscrow: Software Modules by UBITQUITY®
PAIN POINT: REAL ESTATE TRANSACTIONS ARE EXPENSIVE, AND A LOT OF MONEY IS HANGING ON THE VALIDITY OF A DOCUMENT.
Blockchain-based Smart Escrow Contracts (SmartEscrow™) allow for reduced overhead costs and mitigated risks. Once data is placed on the blockchain it can be easily retrieved and re-used without a need for further verification. The data becomes a single source of truth all parties to the transaction can trust without the need to reconcile.
Our software modules integrate into your existing workflow immediately.
TRID INTEGRATION¹ AND REAL TIME COLLABORATION
Smart Escrow Contracts. SmartEscrow™, by Ubitquity®, acts as an autonomous intermediary, automatically executing based on the instructions given it from the parties to the transaction. The UI/UX (User Interface / User Experience) automatically calculates and inserts the data into the TRID form allowing for real time collaboration and sharing of data between permissioned users. The software needs to be robust enough to accommodate for all types of real estate transactions. That’s where we come in. As a pioneering and leading real estate and title blockchain service provider since September 2015, with an experienced team of experts in blockchain, title insurance, and escrow, we have the tools and talent to implement our suite of technologies into your existing software stack.
HELP MITIGATE FRAUD FOR WIRING INSTRUCTIONS
Avoid and mitigate fraud. Have assurance that you are sending and receiving funds from the proper source with our secure wire instruction tools. This is the benefit of collaborating within a blockchain environment.
FEATURE-RICH SOFTWARE (SMART CONTRACTS) THAT IS READY FOR THE TITLE INDUSTRY…
Once the data is on the blockchain: It can be recycled for future closings. The cryptographic hash of the data is the equivalent of an immutable time-stamp.
Open Standards are used: This allows for real time collaboration in a secure environment that’s open to all for a future starter exchange/consortium among industry players if necessary.
Ricardian Contracts are used: These are natural language contracts that store pertinent data as machine readable information for future data ingest.
Read more about what is included, by visiting the unanimity (Baas + API) platform page.
About Ubitquity, LLC
UBITQUITY, the enterprise ready blockchain-secured platform for real estate recordkeeping, offers a simple user experience for securely recording and tracking property deeds and land records. The company is partnered with academia, aviation companies, municipalities, and real estate companies. Version 1.1 release of the platform is now available at www.ubitquity.io.