Real manor blockchain platform programmer Ubitquity will build a platform for creating tokenized property titles with Rainier Title, a news report said.

The platform will also log records of conveyance for the Washington-based Rainier Championship. It will integrate with the conveyance suite Qualia. Rainier Championship is currently in the process of migrating to Qualia.

Tokens created through the platform stand for a client's property then title owners take more than opportunities to develop new value similar a fractionalized ownership investment in the existent estate. Ubitquity said in a argument that having tokens represent a holding, along with records of conveyance stored on a blockchain, creates "huge efficiencies for the abstract process."

Ubitquity'south blockchain-every bit-a-service platform Unanimity lets clients add information to the blockchain for an accurate store of all records.

Along with the partnership with Rainier Title, Ubiquity is also addressing the rise of cybercrime. It built a smart contract module for escrow contracts chosen SmartEscrow. Its aim is to allow piece of cake retrieval or reuse of data without the need for further verification. The company said with the engineering science closing agents can better avoid fraud since there is but a single source of truth and reconciliation is no longer needed.

Tokenized real manor was one time one of the most talked-about projects in years past. But delays in getting information technology off the ground have caused some to question its viability. Yet, using blockchain technology for title tokens are still seen as skilful for the real estate industry.