Blockchain-powered real estate platform Ubitquity is providing pilot recording for Priority Title & Escrow, a full service title company headquartered in Virginia Beach. They lead the settlement services industry across Hampton Roads, with local expertise and national reach.
Founder & CEO of Ubitquity, Nathan Wosnack said: "We are pleased to announce our partnership with Priority Title & Escrow. Having trusted partners to secure verifiable title information to Ubitquity continues the transition of a centuries-old paper title system to a new information age system.
"Ubitquity will simplify the process of tracking and recording to enable a long-term chain of custody of title. By recording this and all future documents/events in that property's future, a publicly accessible, immutable record on the blockchain is created, making future transfer easier and less costly to research. We aim to create an immutable complete record of ownership for our customers. Priority Title & Escrow will help to legitimize this important process."
Ubitquity is providing an original record of recording data on its Software-as-a-Service (SaaS) platform. This provides users and customers the ability to add data to the system so complete history of ownership and search can always be traced using the immutability of the blockchain, said a statement.
Priority Title & Escrow CEO, Joseph LaMontagne, said: "The future of settlements will be determined by our ability to create a trusted and secure way to sign, notarized and record our closing documents. The Blockchain has immense untapped value as it relates to all three aspects. We look forward to working with Ubitquity and the team to pilot this process."