Working as a highly acclaimed blockchain-powered solution for title recordkeeping and real estate, Ubitquity LLC has announced the full launch of the BlockSTRACT market portal along with an elaborated and intuitive Figma demo. The newly launched marketspace is a one-stop destination for title production sellers and abstractors that will offer them a blockchain-supported revolutionary solution. The team has designed the portal to bring about a significant transformation in the title and recordkeeping industry.
We're pleased to announce that BlockSTRACT is now officially live and taking demo requests/sign ups!
BlockSTRACT: A blockchain-powered marketplace for abstractors and title production vendors, allowing for the easy integration of the abstract process.https://t.co/BfrXWF2KRl pic.twitter.com/esdsKlcOt3
— UBITQUITY LLC (@ubitquity_io) September 9, 2020
BlockSTRACT has been designed in a model familiar to renowned freelancing platforms, Upwork & Freelancer. The platform will allow firms to release openings for various work projects so that abstracters and title production vendors can place their bids to avail them. The solution works seamlessly with several title production software.
The bidding process will work, and the most economical and reasonable abstracter will be given the work. The marketspace will give the offeror the required information about the work progress in real-time after the allocation of work to the abstracter at the agreed value. The wide range of features offered by the BlockSTRACT marketplace includes viewing the status of all the orders, reports, messaging, completion, search, and document uploading.
The honorable Founder & CEO of Ubitquity, Nathan Wosnack, stated that BlockSTRACT would play a major role in automating the traditional mechanisms followed by the title insurance domain. He added that his team is elated to see the active participation from the production vendors who have signed up for the marketspace eagerly.
The portal will help interested users to gain access to land records via a safe, secured, and transparent interface to encourage the use of an integrated and shared channel. It will help to uplift the working standards of other industries as well, including Petroleum, gas, and oil.
The blockchain recordkeeping on BlockSTRACT will be carried upon by unanimity, the BaaS, and the API handle of Ubitquity. It employs blockchain and off-chain data storage that will ensure the reliability of land-related data concerning its ownership and historical transactions. The non-encrypted metadata is stored in a centralized channel clubbed with encrypted decentralized storing capacity through IPFS, StorJ, and Amazon AWS for the users.
Currently, BlockSTRACT is compatible with Qualia, the popular title, and closing firm. The marketspace will help to enhance the real estate operations for the users in the future.