Blockchain@UBC study analyzes the application of Blockchain technology in Brazil’s land registry
Vancouver, British Columbia — January 24, 2018 — Ubitquity LLC, the first blockchain-secured platform for real estate recordkeeping, is pleased to announce that it has been featured in a groundbreaking study by Blockchain@UBC, the University of British Columbia’s collaborative research cluster focusing on blockchain technology, involving real estate transaction pilot recording in the southern State of Rio Grande do Sul.
The study analyzed the successful registration of a piece of real estate in Brazil on the blockchain, in conjunction with a Real Estate Registry Office in Brazil, by Ubitquity’s platform in April 2017. The study’s goal is to examine how Blockchain can improve the quality of record keeping in Brazil and increase efficiency and operate within local laws.
“Brazil, like many emerging markets, does not have an integrated system of land management,” says Nathan Wosnack, Founder, President and CEO of Ubitquity. “This fragmentation leads to inefficiency and increases the potential for fraud and human error. This is why we were delighted to work with Blockchain@UBC on this project as this test was a perfect example of how Blockchain can provide a solution in this market.”
The study’s findings demonstrate how tokenization can work in the context of blockchain-based land transaction recording, and flag directions for possible further solution development, such as key management, data architecture, identity management to establish authenticity of ledger-based transactions, and long-term preservation.
The international research team, led by Dr. Victoria Lemieux Associate Professor of Archival Science and Founder of the Blockchain@UBC research and education cluster, included graduate researchers from UBC, Professor Daniel Flores of Universidade Federal de Santa Maria, Brazil and a team of his researchers from the graduate program in archival science, Claudia Lacombe from the National Archives of Brazil, the team at Ubitquity and staff at the Registry Office in Pelotas, Brazil.
“I have been delighted to collaborate with Ubitquity to produce high impact basic and applied research to advance global understanding of the potential for transformation of land transaction recording through the application of blockchain technology,” says Dr. Victoria Lemieux. “The project demonstrates how blockchain software developers and architects and archival scientists can collaborate to strengthen the design and implementation of blockchain-based record keeping solutions.”
About Ubitquity LLC
UBITQUITY, a blockchain-secured platform for real estate recordkeeping offers a simple user experience for securely recording, tracking property deeds and land records. The company is partnered with academia, municipalities, and title companies. A private alpha version of the platform is now available.
Research Cluster at the University of British Columbia, supported by the Institute for Computing, Information, and Cognitive Systems.
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