Breakthrough In Brazil
Besides being the pioneers in the real estate blockchain technology, Ubitquity cemented its position in the industry when it partnered with Brazil’s Real Estate Registry Office in April 2017, called Cartório de Registro de Imóveis to improve on its land and property ownership recording process.
Brazil faces a high rate of corruption and fraud especially when it comes to land titling system; the lack of property rights and a missing centralized system for land ownership records has made the system easy to be abused.
Ubitquity’s pilot in Brazil added an extra layer of efficiency and confidence to the currently bloated system.
In the region where Ubitquity conducted its pilot, real estate records could be compared to their counterparts on the blockchain – an immutable record – and this check ensures all parties involved that the records are legitimate.
The successful pilot in Brazil was groundbreaking due to the fact it was the first time in history a blockchain and real estate recording ever occurred in all of Latin America.
This pilot lead to several LATAM PropTech Summit speaking events (in Chile and Miami in 2018). Our Founder & CEO Nathan D. Wosnack joined their Advisory Board in 2019.