NotaryBlock™ improves security, transparency, and trust in digital notary workflows.
Wilmington, Delaware, USA — August 10th, 2020 — Ubitquity LLC, the enterprise-ready blockchain-secured platform for real estate and title recordkeeping, has announced that it is launching NotaryBlock™, a software module to be integrated the unanimity Blockchain-as-a-Service (BaaS) platform will improve security, transparency, and trust in digital notary workflows for Title, Escrow, eRecording firms, and digital signature companies.
“The problem is that notaries currently have to maintain a paper journal. NotaryBlock™ provides a single source of truth for notary publics to confirm the identity of signatories ultimately eliminating the need for notaries to maintain a paper-based notary journal of entries. Something that is needed in this COVID-19 era.” said Nathan Wosnack, Ubitquity Founder & CEO.
“Thanks to the work done by the Mortgage Bankers Association, the National Association of REALTORSⓇ, and the American Land Title Association in their drafting of a model emergency notarization act calling for the uniformity and legal certainty of remote notarizations to progress eClose adoption and innovation to keep the market afloat. This allows the flood gates to open for future real estate technology adoption of eClose workflow and innovations like NotaryBlock™ to flourish.” stated Ian T. Staley, MSM, Ubitquity VP of Business Development.
With NotaryBlock™, 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. This application works well with the recent spike in demand for Remote Online Notarization (RON), Remote Ink Signed (RIN), and eClosing solutions. The blockchain-based digital notary solution, NotaryBlock™, is a unique and future-proof competitive differentiator that easily integrates into any software stack workflow.
The platform allows companies to create any digital asset and certify its existence at a specific moment of time, as well as the traceability of the changes of states or values of its attributes. The data is stored in an immutable and permanent way, with highly reliable cryptographic mechanisms via our unanimity platform and API that allow to verify the existence and traceability of the registry. The turnaround time for blockchain integration is quick, and in most cases it can only take days to go live.
The Ubitquity BaaS Platform and its API, unanimity, which complements its existing products launched in March 2016, utilizes blockchain and off-blockchain data storage. This enables users to ensure the authenticity of information related to the land or property in question. In particular, current ownership and all historical transactions are provided immutable recordation. In addition, non-encrypted metadata regarding transactions is stored in a centralized database, with encrypted decentralized storage (via StorJ, IPFS) for clients who require it.
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. Learn about NotaryBlock™ and how it can help your firm by visiting www.ubitquity.io/notaryblock.
Sahar Hariri, Sr. Client Account Manager
t: 1+ (724) BITCØIN [248–2046]