Real estate title blockchain Ubitquity recently announced securing a partnership with Chain Solutions, a Chilean real estate management, consulting, and advisory firm. The partnership is meant to secure an avenue to provide value-added services in reselling property and other such processes, according to Cryptoninjas.
This is the second time the blockchain firm is partnering for the sake of providing another avenue for blockchain services. Bits Online reported that on October 17 last year, the blockchain-based title and recordkeeping firm closed a deal with similar blockchain-backed platform Coast to Coast Title. The partnership is meant to create a new abstracting application with the name Appstract.
The app is meant to work in the same way apps as Uber Eats does. Like Uber Eats, users can use the app to create tasks, pass them on to abstractors, and monitor their progress remotely. Upon completion of the task, the abstractor waits for payment, while the user reviews the task and deems how much payment it's worth.
The records in the app will be stored via blockchain, on the Ubitquity SaaS platform and API. Records will remain in a secure environment until such time it can be reviewed. Users can review the data any time; the data will then be stored in a centralized database, secured by StorJ and IPFS.
The partnership between Ubitquity and Coast to Coast was instrumental in bringing the app from idea and to reality. Ubitquity has experience in the blockchain, while Coast to Coast is more than adept in the abstracting process. The firms put their expertise together to create the different processes available in Appstract.
Nathan Wosnack, the CEO and founder of Ubitquity, recognized the difficulty of maintaining cross-border transactions and investments. He said that the partnership between Chain Solutions-and with other companies-will bring about 'trust and confidence' in app-based processes. It is also more easier to complete using blockchain technology and other features, such as smart documents and mobile-intensive processes.
The CEO admitted that blockchain is currently in the beginning stages, but with the way it is progressing, development will be completed in a fairly short while. Chain Solutions, meanwhile, said that their partnership with Ubitquity brings about the 'best option' to complete the technology for the real estate market.
Ubitquity already has a collection Blockchain as a Service (BaaS) tools available on its platform, dubbed the unanimity platform.
