Industry Use CasesThe use cases we describe are for blockchain and real estate we have considered and have already widely implemented.
1. Errors in public records
Humans make mistakes, the blockchain doesn't. Ubitquity utilizes the most secure cryptographic ledger in the world to ensure the security of your documents and assets.
2. Unknown liens
Foggy record keeping can mean liens being placed on your property if prior owners were not the most meticulous bill payers. By tracking the chain of custody Ubitquity can prevent these time consuming mix ups.
3. Illegal deeds
By creating a clear chain of verifiable legitimacy, companies using the Ubitquity platform can be sure the details of documents are accurate and verifiable.
4. Missing heirs
When a person dies, the ownership of his home may fall to his heirs, or those named within his will. However, those heirs are sometimes missing or unknown at the time of death. Other times, family members may contest the will for their own property rights. These scenarios - which can happen long after you have purchased the property - could affect your rights to the property.
Malicious actors can pollute property records with false claims and documents. The Ubitquity platform can provide superior authentication and proof of history which cannot be forged thanks to the cryptographic nature of the blockchain and through the relationships with our partners in the financial and title industry.
6. Repairs and maintenance history, major system upgrades and warranties
A record of upgrades and warranties on vacant homes bought/sold with a 'special warranty deed' such as a Trust/Estate or from a Lien holder via. Foreclosure will help an asset hold its value.
7. Property Ownership Transfers
This was successfully completed as the first property ownership transfer recording in the world in June 2016 by Marina Reznik (REALTOR® at Atlantic Sotheby's International) of Ubitquity LLC.